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East Coast competition fierce for assets in Brisbane business precinct

Jessica Freeman • 10/08/2022

A Melbourne based investor has snapped up a 1,479sqm* corporate office/warehouse ideally located in Metroplex on Gateway, one of Brisbane’s most desired business locations for $4.15 million which reflects a 4.85% yield.

Located at 4/62 Borthwick Avenue, Murarrie, in a complex of four units with 17 on-site car spaces, the property comprises a 535sqm* office and 943sqm* warehouse and benefits from immediate access to Lytton Road and the Gateway Motorway and is situated 7 radial km’s east of the Brisbane CBD.

The property is securely leased to quality medical supplies company Midmed Pty Ltd who have been in operation for 28 years and in occupancy since 2016.

Owen Byles and Cameron Heim of Cushman & Wakefield sold the property on behalf of a Melbourne Based Private Family and said the property sold prior to the EOI closing on a cash unconditional contract

“The property was sold to an interstate investor with similar assets nearby, after a competitive campaign yielded 35 enquiries in the first 3 weeks and 5 offers were presented, highlighting the demand for quality assets with a proven under market rental with future uplift, such as this,” said Cameron Heim.

-ENDS-

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