22 April 2022 – A private investor has sold a long held, multi tenanted industrial property in the tightly held Molendinar industrial precinct in QLD for $1.5 million to a prolific investment buyer with a large portfolio of similar quality assets, after the competitive sales campaign received over 100 enquiries.
Four fully leased strata titled tenancies occupy the 537sqm* GFA tilt panel building which sits on the 1,000sqm* industrial site at 6 Precision Drive. The site also boasts a prime position right on the entry / exit ramps to the Smith Street Motorway.
Jazmin Britton and Scott Dalton of Cushman & Wakefield negotiated the sale and said the high level of enquiries proved that demand is only getting hotter for industrial assets such as this.
“This was a record price per square metre for the Molendinar area and we expect to see demand continue to remain strong given the extremely tight supply of quality assets such as this” said Jazmin Britton. Scott Dalton said “The irreplaceable site on the on/off ramp to the Smith Street Motorway was a big drawcard for many investors, along with the substantial income upside over the short-medium term”.