Double Darra industrial investment bought by Fife Capital

Fife Capital has expanded its presence in Queensland’s industrial market, securing two facilities in the Brisbane suburb of Darra for $29.45 million.

CBRE’s Ed Bull and Cushman & Wakefield’s Corey Bott negotiated the sale of 2642–2666 Ipswich Road on behalf of Cambooya Pty Ltd.

Comprising 9,732 square metres over two modern corporate industrial facilities, the property is securely leased to two tenants, including two ASX-listed subsidiaries – Ensign Services and Multispares Limited.

Bull said the formal on marketing campaign yielded over 50 enquiries due to the quality of the investment offering.  

"This opportunity to acquire a secure investment backed by majority ASX-listed subsidiaries drew interest from a vast pool of buyers, including local, domestic and foreign purchasers," Bull said.

"In addition to its attractive tenancy profile, the property also benefits from an enviable location in close proximity to the Ipswich Motorway – one of south east Queensland’s major arterial roads."

Covering a total site area of 23,463 square metres, the property is located in the heart of one of the industrial precinct, with the Ipswich Motorway upgrade and ConnectWest Business Park project attracting more tenants to the area.

"The western corridor is already one of Brisbane’s most sought after industrial precincts, with major tenants including Toll, Cascade, Australia Post and Coca Cola Amatil," Bott said.

"Ongoing projects in the area will continue to drive growth in this thriving precinct and subsequently fuel investment activity.”

Each tenancy comprises a mix of corporate accommodation over two levels and adjoining clear span warehouse, with roller door access and concrete hardstand areas.