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News release

Brisbane

QLD: Darra property sells for $1.22million as demand outstrips supply for smaller options: Jones Lang LaSalle

PROPERTY SOLD AND LEASED BY JONES LANG LASALLE


BRISBANE, 18 OCTOBER 2012 - Jones Lang LaSalle’s Chris Cash has announced the sale of a building at 6 Fienta Place in the Darra industrial precinct for $1,220,000 + GST, in a deal that reflects the increasing scarcity of smaller, quality freestanding industrial offerings in the area.

"The buyer, a private Brisbane based investor, moved quickly to secure this property given there are very few of this quality and size in the Richlands-Darra area,” said Mr Cash.

“More specifically, the purchaser was attracted to the property due to its prominent Boundary Road frontage and functional freestanding improvements,” he said.

“Increasingly there are limited opportunities to acquire freestanding buildings in this precinct, which are under 1,000 sqm, so the buyer moved to ensure they did no miss out.”

The property was constructed in 1994 and was sold on behalf of a regional NSW property syndicate.  The property comprised a land area of 2,019sqm and 877sqm of building area.

Mr Cash has also committed a multinational mining services company to lease the property for three years, based on a rental rate of $133,000 + GST.