Thecaves@salisbury, consisting of 12 industrial units, has sold out in eight months to a total of $8.414.
Sold off the plan by Ray White Commercial TradeCoast agents Jack Gwyn and Jared Doyle, alongside CBRE’s Jack Hardy, buyers consist of four investors and eight owner occupiers including Landmark Seafoods, Noosa Longboards, Electric Scooter Australia, The Thrifty Mumma, a builder, an NBN installer and Building Services Consulting Australia.
Part of the brand new and refurbished development at 233 Evans Road, units ranged in size from 174sqm to 399sqm in size.
“Situated in an established industrial precinct only 8.8km from the Brisbane CBD, thecaves@salisbury presented an exciting opportunity for occupiers and astute investors and owner occupiers to secure a limited number boutique commercial/industrial units,” Mr Gwyn said.
“After selling out thecave@coorparoo for $5.679 million in early 2021, the developers rolled straight into thecaves@salibury.
“After purchasing the site in late 2020 for $2,300,000 + GST, the developers had to absorb increases in construction costs which were overcome by an early amendment to the price list and outstanding sales results to follow.”
Mr Gwyn said the market for industrial properties had been very active.
“We have experienced unprecedented demand for all industrial properties from both investors and owner occupiers leading to a supply shortage,” he said.
“We urgently need more sale stock as we have an abundance of buyers with various requirements.”
Developed by Phil Rhodes and Austin Ward with Austruct managing the build, thecaves@salisbury was just one of many projects planned by the duo, as they expand their upcoming projects into Acacia Ridge, Oxley, and Hemmant.