Investment syndicate buys Crestmead site for a possible $2.2 million then leases it back to an expanding JB Attachments
A private investment syndicate has bought an 1,817m2 office/warehouse on 4,009m2 of land at 59 Magnesium Drive, in the Crestmead Industrial Estate, a State initiated development in Brisbane’s south. While the price is undisclosed, nearby properties are achieving around $1,450/m2, an amount that would translate to approximately $2.2 million.
The new owner is renting this site to JB Attachments P/L, which, it is believed will be paying around $110/m2 to $120/m2 per annum
JB Attachments specialises in providing quality earthmoving attachments and trenchless equipment through importing products from reputable brands and through designing and manufacturing its own product range. The growing firm is amalgamating its other Brisbane sites and chose this property in part because of its potential for future expansion. JB Attachments was formed in 2009 from two pioneering companies with over 100 years of industry experience
This building was constructed approximately 6 years ago of portal frame, color bond construction with metal deck roofing and presents a modern corporate image. The warehouse component provides an internal clearance of 8.0m at the apex and 7.5m at the eaves and is entirely clearspan. There is 184m2 of ground floor office accommodation built to a high standard with ducted air conditioning, data cabling, dual sets of male/female amenities and a small kitchenette
Additional to the warehouse is an open all weather awning of approximately 476m2 which extends from the northern side of the building. Access to the warehouse is via three 5m x 7.2m, and two 3.6m x 3.6m roller doors from the concreted hardstand and awning area
The Crestmead Industrial Estate is situated in a rapidly growing industrial area approximately 25km south of the Brisbane CBD and 45km North West of Southport business centre. It is home to many large companies including Stramit Building Products, John Deere, John Holland, Metcash, Retracom and Penrite Lubricants, all attracted by its proximity to the Gateway and Logan Motorways
