Local investor buys Wacol property for $2 million and will be receiving over $156,000 pa in rent

by admin | 11th November 2010

A local investor has paid $2 million for a  property at 16 Tile Street, Wacol, and will be receiving over $156,000 pa in rent from its tenant, XO Interior Systems P/L, on terms of  3+5+5 years. King & Co’s James Kenny and Paul Ekeberg were responsible for the sales transaction, while the latter handled the lease and marketing.

This site, which is one block back of the busy Tile Street/Boundary Road intersection,  includes 1,643m2 of modern tilt slab office/warehouse on 2,453m2 of GI zoned land. The warehouse component is 1,500m2 of clearspan factory, with 6m height, dust proof concrete floors, an insulated roof with alsynite panels, an electric 5m wide x 4.5m high roller shutter and 3 phase power. Its 143m2 carpeted and ceramic tiled office contains amenities. Also included, is  good truck access, plenty of turning room and  car parking for 18, four of them undercover

The tenant, which recently moved from smaller quarters on nearby McRoyle Street, is a manufacturer of luxury aluminium and glass doors, that, according to a company spokesman, prides itself in having the largest range of aluminium profile in the industry…the largest range of glass…the shortest lead time…and is the only supplier that offers online quoting, ordering, configuration and direct access to real time production status

Before moving in, XO spent $1/2 million refitting it to an even higher standard, which included new offices and a fully automated spray line

Ekeberg adds that the site was rented only a few weeks of  coming onto the market, suggesting the high demand for space in this area, while Kenny says the purchase was predicated on it coming with a long term tenant with a solid business

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