An overseas investor pays $1,578,000 for Hemmant property and will be making $130,000 pa in rent from its publicly listed tenant, an international lens maker

by admin | 24th February 2011

An offshore investor has paid $1,578,000  for a 799m2 office/warehouse at 1/23 Luke Street, Hemmant, and will be receiving $130,000pa in rent from its  tenant Shamir Australia P/, on terms of 5+5+5  years.  King & Co’s David Knapp handled the seller’s side of the transaction, while James Kenny of King & Co represented the buyer.

This space is part of a three year old tilt slab duplex and features a container height roller door. It is strategically situated in the heart of the Australia Trade Coast precinct and provides excellent access to Brisbane’s sea and airports, the Port of Brisbane Motorway and Lytton Road.

The publicly listed tenant is a leading provider of products to the ophthalmic lens market in the Asia Pacific and is a subsidiary of Israel headquartered Shamir Optical Industry Ltd. Founded in 1972, it is one of the world’s leading manufacturers of high-quality progressive lenses and molds. This facility has been fitted out to meet its laboratory, manufacturing as well as warehouse and office requirements.

 According to Knapp,“this is one of the few investment sales to be transacted in the Hemmant/Lytton area during the last six months.”

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