A FREESTANDING industrial warehouse that is home to nationally-known Reece Plumbing has sold for $1,175,000 at 24 Chetwynd Street in Loganholme.
The asset, that came with 612sq m* GFA including high-end showroom and amenities, was purchased as an investment after a successful expressions of interest campaign.
The property was marketed and sold by Ray White Industrial Milton Sales and Leasing Executive Lachie Hale and Associate Director Sales and Leasing Jaems Balfour.
“We had strong interest from investors all over the country due to the good lease covenant and sound underlying fundamentals of the property,” Mr Hale said.
“The asset was sold to a Victorian-based investor on a yield of 6.8 per cent, demonstrating the on-going appetite for quality leased investments in the Logan Corridor.”
“Just minutes from the toll-free M1, Loganholme is strategically positioned to allow logistical and customer access to Brisbane and the Gold Coast in 30* minutes,” Mr Balfour said.
“The rental return from Reece Plumbing provides the investor with $80,117* p.a. and the asset features a five-year lease, with further option to 2032.”