Local investor pays over $1.8 million for two Berrinba units and will be receiving $138,540 pa in rent

by admin | 26th November 2010

Manly based George Davie Investments Pty has paid a total of $1,848,000 for two tenanted and adjoining units at 5 & 6/18 Prospect Place, Berrinba, and will be receiving $138,540 pa in rent. King & Co’s Rod Hewitt handled the transaction, while the vendor is undisclosed.

Both are in a complex of 8 within the Logan Link South Industrial Estate, which has floor areas ranging from 300m2 to 517m2, and offers up to 33% office/showroom as standard. This estate is on 5,015m2 of MIBA zoned land, centrally located with immediate access to the Logan Motorway and the M1, servicing Logan, Brisbane and SE Queensland. It lies at the corner of Wembley Road and Pagewood Street and is designed to attract iconic hi-tech industries requiring profile, appearance plus position. 

Unit 5 is tenanted for 4+3+3 years by Homebush Storage and occupies a space featuring 338m2 of warehouse and 100m2 of mezzanine office. It also enjoys an electric roller door and provision for 28 hardstand carparks. 

Unit 6 is rented to Tile World for 5+ 3 years and comprises 311m2 of warehouse accessed via an electric roller door, 186m2 of mezzanine office, 85m2 of hardstand and car parks for 6.

According to Hewitt the purchaser at first intended to buy only unit 5 but decided that taking both was a much better deal as he was aware that this up and coming precinct will eventually provide a reward in terms of capital appreciation.

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