Leased office-warehouse sale in Bowen Hills fetches $3.25 million

Leased office-warehouse sale in Bowen Hills fetches $3.25 million
Leased office-warehouse sale in Bowen Hills fetches $3.25 million

A fully leased office warehouse in Brisbane’s BOWEN HILLS has changed hands for $3.25 million on a yield of 3.7%. 

The 47 Brookes Street property is in one of Brisbane’s up-and-coming mixed-use urban renewal precincts, which includes more than 100 hectare of under-utilised land, underpinned the sale.

The deal was brokered by JLL’s Sam Byrne and Christian Sandstrom from Metro Sales & Investments.

The asset, which was passed in at auction late last year, was sold to a private investor.

The 1,011 square metre site has a freestanding building with two levels of older-style office and warehouse accommodation totalling 804 square metres.

It is fully leased to three tenants – with one of them in the building for 13 years.  

Byrne said the sale attracted strong buyer interest.

“The property’s location in the BOWEN HILLS’ Urban Renewal Precinct was a key drawcard in attracting interest, with Brookes Street situated in the high exposure position in the heart of BOWEN HILLS,” Byrne said.

“This transaction follows on with the trend of investors acquiring land rich assets in core locations to land bank for future development cycles.” 

Leased office-warehouse sale in Bowen Hills fetches .25 million

Tags: 
Brisbane Office Sales

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