Eagle Farm Industrial Investment Sold

Eagle Farm Industrial Investment Sold

A partially tenanted warehouse/office unit in the popular PortLink complex at Eagle Farm near Brisbane Airport has been sold through Ray White Commercial TradeCoast.

The approximately 289 sqm property at 5/41 Lavarack Avenue, Eagle Farm, was sold for $855,000 to local investors by Jack Gwyn and Jared Doyle of Ray White Commercial TradeCoast on behalf I.F.P. Holdings.

Jack Gwyn said the property was sold as a going concern with the approximately 129 sqm corporate first floor office currently leased to Colt International Pty Ltd for approximately $38,700 per annum on a 4 + 4 year term.

“The property was sold for a face yield of 4.53 per cent while the potential yield when fully let is between 7.8-8.27 per cent,” he said.

“The approximately 160 sqm groundfloor warehouse is available for lease for $32,000 per annum.”

Jared Doyle said PortLink has been attracting high calibre tenants.

“There are 12 industrial units in this complex which has a signage tower and onsite café with a parking ratio of six parks to every unit,” he said.

“Unit 5 was the last of the 12 units to sell with the complex attracting four investors and eight owner-occupiers. The complex has easy access to the surrounding major arterial road network.”