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News release


Niche Industrial title for Tennyson/Yeerongpilly following $2million sale: Jones Lang LaSalle

​BRISBANE, 30 September 2013 – The Tennyson/Yeerongpilly precinct has been flagged a niche industrial hub, attracting tenants and occupiers requiring quality office/warehouse facilities, without the heavy industrial setting and surrounds seen in the more traditional industrial suburbs, according to Jones Lang LaSalle’s Samuel Stewart. 

Mr Stewart and his Jones Lang LaSalle colleague Shaun Canniffe recently negotiated the $2million sale of 124 Tennyson Memorial Avenue to a local private occupier/investor. 

“Originally the buyer was looking for a smaller facility, however after inspecting 124 Tennyson Memorial Avenue, he found the location highly appealing with the building fitting the mould for his future plans,” said Mr Stewart. 

The building comprises two units totalling 1,528sqm of office and warehouse accommodation on a 2,379sqm site. A small portion of the facility had an existing lease in place at the time of sale. 

Positioned on Tennyson Memorial Avenue, the site benefits from strong exposure and provides exceptional access to southern infrastructure. 

“The existing duplex style layout of the building meant the purchaser could occupy half of the facility, while the other half will be converted into a high end automotive servicing and restoration centre for past and present model Porsches.”

“The Tennyson and Yeerongpilly industrial precinct has developed into a niche industrial hub, and is attracting strong interest from buyers and tenants alike for its appeal. The location attracts a broader range of users being one of the closest industrial hubs to the Brisbane CBD and provides a city fringe alternative for tenants and occupiers,” said Mr Stewart.

He said there could be a misconception in the market about the area. “This particular industrial pocket is often mistaken for having been affected during the January 2011 floods, but in reality was high and dry.”

“It’s definitely a unique pocket with good proximity to surrounding affluent suburbs such as Yeronga, Chelmer and Tennyson with other points of interest and business being the Rocklea Markets and the recently developed Brisbane Tennis Centre.”