King & Co dominates sales and leasing activity in popular Arana Hills industrial estate

by admin | 1st November 2010

Over the last six months King & Co has been responsible for the sale of eight strata titled units totalling $2,485,250 (ex GST) in Goya Property Pty Ltd popular 25 unit industrial complex at 1147 South Pine Road, Arana Hills. All but two was to an owner/occupier. Rates achieved have been between $2,200/m2 to $2,850/m2 (ex GST) with one of the investments achieving a sales yield of 7.5%, well outperforming the broader market

During this period King & Co also secured tenants for four units, two of the recent purchasers noted above and two to the developer, which are now on the market as investments.

These units range in size from 58m2 to 249m2, with each comprising a 6m to 7m high clearspan warehouse, accessed via a container height roller door, and includes a mezzanine office, a corporate finish as well as 75 onsite car parks

Niche areas like this are often neglected by most industrial developers, however with very little industrial land available throughout the north western side of Brisbane, combined with the huge residential demographics ensures a constant under supply of industrial properties for the smaller to medium size business that wish to be located closer to home than in the traditional industrial areas

Though we have been experiencing one of the most difficult periods for industrial property in recent times, it proves that well designed, located and researched developments will always do well. Goya Group settled on the site in May 2007, which they purchased through King & Co for $2 million

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