JLL negotiates fifth Enoggera sale in Brisbane for 2019

BRISBANE, 2 December 2019 – JLL’s Gibson Leembruggen and Andrew Havig have sold an Enoggera office and warehouse facility located at 158 South Pine Road to Glascott Landscaping for $1,800,000.

Glascott Landscaping had been leasing a premises in Eagle Farm for three years which JLL also leased to them before they introduced Glascott to the 700sqm building located on a 850sqm Low Impact Industry zoned site in Enoggera.

The property is 7km north of the CBD and features dual-electric roller doors, a clear-span warehouse, balcony, quality office space over two floors, multiple amenities and rear hardstand / outdoor storage area.

This sale is one of five completed by JLL in Enoggera during 2019, with approximately $13.3million worth of transactions year-to-date including, 61 Pickering Street, 4/72 Pickering Street, 347 Wardell Street, 190 South Pine Road and the subject property at 158 South Pine Road, Enoggera.

JLL’s Gibson Leembruggen said, “Enoggera is proving to be extremely popular amongst investors, tenants and owner-occupiers due to it being only 15 minutes from the city and as a result it continues to be of one of the most tightly held and highly sought-after industrial / commercial pockets in Brisbane.”

“The precinct is a very strong one, experiencing only approximately 1-2% of industrial vacancy at all times, with a number of occupiers / tenants looking to enter the market, but are unable to source suitable opportunities.”

“I am unaware of any commercial or industrial pocket in the Brisbane City Council area that boasts similar fundamentals,” he added.

JLL’s Andrew Havig added, “The rental returns achievable in Enoggera are attractive, often exceeding more traditional industrial areas such as Eagle Farm. The available returns on a risk-adjusted basis, when accounting for strong tenant demand & affluent surrounding catchment, makes it an appealing investment market,” he said.