French Car Care pays $1,320,000 for investment property with future relocation potential

by admin | 9th September 2011

French Car Care has paid $1,320,000 for a 465m2 dual  tenancy on 1,429m2  of LI  land at 65 Caswell Street, East Brisbane. The 26 year old firm, which services and repairs the likes of Citroen and Peugeot, is presently located on nearby Manilla Street and intends to move into a custom office/warehouse it will build within the next 3-5 years on the portion of land that’s unimproved. This decision is thought to be a reflection of increased truck traffic and parking shortages along Manilla Street since, particularly since the IGA market opened….a situation the new owners believe should just get worse. Meanwhile, the tenants, a car detailer and metal polisher, have rented space here for 18 years and are expected to continue doing so.

Caswell Street is well situated in the midst of this suburb’s  ever popular industrial heart. It is accessed from both Stanley and Vulture Streets or via a shortcut through the back of Woolloongabba that links to Deshon Street. The building is older style and of  metal clad construction with a brick facade. Features include a  6m high warehouse accessed via two container height roller doors, low site cover (at least until the new building comes on line) and excellent parking.

King & Co’s Jane Turnbull handled the transaction, while the vendor, a local investor, is undisclosed.

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