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News release


BRISBANE: Oxley deal done for $1.725 million - Jones Lang LaSalle

February 4, 2013 – With good quality industrial investment stock becoming increasingly limited in the central southern Brisbane region, it pays to know the right people. Sam Stewart and Shaun Canniffe from Jones Lang LaSalle have finalised the sale of 224 Douglas Street in Oxley for $1.725 million to a private investor, in a very tightly held and competitive market.
“The purchaser was looking for a sub $2million dollar investment property with a strong covenant, decent lease term, and solid review structure,” said Jones Lang LaSalle’s Sam Stewart.
“Not only did 224 Douglas Street satisfy the investor’s financial requirements, the location was also highly appealing due to its corner site positioning, proximity to surrounding future development and direct access to the Ipswich Motorway,” he said.
“The buyer, a local private investor, was also attracted to the low site cover allowing for potential redevelopment in the medium to long term.”
The 3,334sqm site is positioned on the corner of Douglas Street and Blivest Street with improvements comprising approximately 960sqm of warehouse and office accommodation.
The property was recently leased to a national tenant on a 5 + 5 year lease with a commencing annual rental of $150,000 per annum, representing an 8.7% initial yield for the investor.
While the property was being marketed by Wright Property Jones Lang LaSalle brought the buyer to the property and finalised the sale.