All but three of the units in a brand-new Tingalpa industrial complex have been snapped up in sales totalling $3,255,000 through Ray White Commercial TradeCoast.
“The first 10 units were sold off the plan with sale prices ranging from $269,000 to $315,000,” Mr Doyle says.
“Of the six that are owner-occupied, two are business premises and four are used for storage.”
Developed by R4 Property Group, the tilt-panel complex comprises 14 units. Each has warehouse space, a kitchenette and bathroom plus an air-conditioned mezzanine.
“The Annex development piqued a lot of interest from buyers who saw potential for the units beyond simply storage,” Mr Doyle says.
“With residential space in Brisbane increasingly at a premium, people are looking for solutions to store caravans, motorhomes, cars and boats or for recreational pursuits.
“Similarly, small construction, painting and medical-research businesses were attracted by premium features of the development.”
Investors have bought the other five of the 11 units sold, one of which has been leased to a painting business. The remaining four investor-owned units are available for lease.
Mr Gwyn says many buyers opted to upgrade their purchase with extra features offered by the developer.
“These include showers, hot-water systems, internal painting, three-phase power and enclosed mezzanines,” he says. “One owner is also looking at installing a solar power system.”
Air-conditioning, concrete floors, electric roller doors and kitchenettes are standard inclusions.
Occupants of The Annex are also able to stream around-the-clock security footage to their devices.
The units range in size from 69sqm to 95sqm. All are individually metered. Access to the 2000sqm site, which is 11km east of the Brisbane CBD and within 3km of the Gateway Motorway, is via a security cable gate.
The three remaining units are available for sale from $269,000* or for lease from $20,175* per annum.