Image: 140 Anton Road QLD
As developments of several major land parcels within the TradeCoast commences, hardstand industrial assets are becoming extremely scarce, creating pent up investor demand for hardstand sites across the East Coast.
RF CorVal were quick to snap up a 22,000sqm property strategically located in the established industrial precinct of Hemmant approximately 11 radial kilometres east of Brisbane’s CBD for $14.3 million in an off -market transaction, reflecting an initial yield of 6.15 per cent.
Located at 140 Anton Road, Hemmant, the securely fenced site with security cameras (CCTV) is located in a highly sought-after and rapidly transforming precinct within the southern TradeCoast and its central location and close proximity to major arterials (Lytton Road, Port of Brisbane Motorway, Gateway Motorway and Gateway Bridges) enables efficient transport connectivity across Brisbane and South-East Queensland.
David Gibson and Bevan Galloway of Cushman & Wakefield negotiated the sale on behalf of a private owner and said RF Corval was attracted to the rarity of the offering and is bullish on the local hardstand leasing market, due to lack of competition and strong demand fundamentals.
David Gibson said this is creating pent up demand for hardstand sites and rental rates are increasing accordingly.
“Furthermore, subsequent to unconditional exchange and prior to settlement, two tenants have been introduced to the new owner and both leasing deals have been struck at asking price with almost zero incentive” he said.