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News release

Brisbane

Hemmant industrial site sells for $14.9million: QLD


BRISBANE, 30 August 2013 – Aaron Bates and Brendan Delahunty of Jones Lang LaSalle have negotiated the sale of 45 Gosport Street, Hemmant for $14.9 million.  The property is located in the heart of the Australia TradeCoast precinct, a strategic industrial location within South East Queensland. 
 
“The sale of the property at 45 Gosport Street in Hemmant represents a yield of 9.49%,” said Mr Delahunty, who added offers for sale in the tightly held TradeCoast were still rare and always attracted strong buyer interest.
 
“The tenant, who is the original owner and developer of the site, have a lease in place until March 2016, with a five year option,” Mr Delahunty said.
The property features five freestanding warehouse buildings, plus a small office building that make up a total of 15,241sqm of lettable area (approx.) on 3.56ha of General Industrial land. 
 
“The campaign yielded interest from both private and institutional groups nationally,” said Mr Delahunty. “A number of offers were received at the close of the campaign with the successful offer coming from a private group based in Sydney.”
 
“The level of buyer interest was expected given this property provides a strategic holding within the Australia TradeCoast precinct, a region that continually sees high demand, due to the connectivity of the area to the Port of Brisbane, Port of Brisbane Motorway and the Gateway Motorway.”
 
“There is a limited supply of larger quality investment opportunities within the precinct and across the greater Brisbane area, and while this remains so, properties like 45 Gosport Street will be highly sought over and competitive bids will result.”
 
“We continue to experience strong demand from tenants looking within proximity of the Port of Brisbane, with particular strength in the 1,500sqm to 6,000sqm size range.  It is this tenant demand that underpins 45 Gosport Street as a quality investment moving forward,” Mr Delahunty said.   
 
Throughout the Australia TradeCoast and more precisely within the port precinct there is distinct lack of developable land.  This limited supply combined with tenant demand for the area will continue to provide the rental growth potential for assets within the region.