A tilt panel freestander has sold for $5.42M + GST following a successful off-market campaign at 1-15 Beal Street in Meadowbrook.
The asset, that came with a substantial 3,836sq m* building area, also sat on a 6,743sq m* corner land allotment.
The property was sold by Ray White Industrial Milton Associate Director Sales and Leasing Jaems Balfour.
Mr Balfour said the site was sold as vacant possession and the buyer intended to occupy the space with his successful Brisbane-based manufacturing/engineering business.
“I’d been in contact with the owners regarding an expiring lease and managed to introduce a Sydney business owner who owns multiple businesses across the country,” he said.
“The buyer was attracted to the high ceilings, the corporate presentation and large power supply the property provides.
“They intend to install a crane and retro-fit the site to suit the expansion plans they have for their business.
“Meadowbrook is a highly sought-after corporate estate comprised of predominantly tilt panel facilities, right on the Logan Motorway and only two minutes from the Pacific Motorway, making it ideal for transport.
“We’re seeing a resurgence in requirements for heavy-use manufacturing facilities with good power and crane capabilities, as most of the newer developments are more targeted towards logistical businesses.”