Local investor pays over $2 million for tenanted property in Slacks Creek

by admin | 14th October 2011

A local investor has bought a tenanted property at 3503 Pacific Highway, Slacks Creek. The price was around  $2 million and comes with a lease of 4+5+5+5 at rates thought to be between $130/m2 to $140/m2. King & Co’s Myles Clentsmith handled the transaction, while the vendor was a  private investor

The building was constructed in approximately 1999-2000 and is of modern tilt panel construction with suspended slab for the showroom and traditional slab on ground for the warehouse component

There is metal deck roofing with external guttering and the rear hardstand is fully concreted for ease of truck turning and equipment storage

Comprising 1,416m2 GFA in total, the 708m2 of office/showroom has recently been refurbished and exhibits full height shop front glazing, suspended grid ceilings and ducted air- conditioning. Its 708m2 ground floor warehouse component has approximately 4.5m internal height and is accessed via dual roller doors

This site is accessed via the M1 Pacific Highway Service Road, which is a sealed bitumen carriageway running parallel with the Highway. The block has a total of 3,652m2 of Springwood Sub Area 11 zoned land which is a flexible zoning and allows for a number of commercial and industrial uses

The tenant, National Tiles Co P/L, was established in 1979 by Managing Director Frank Walker and has rapidly become a market leader in the tile, stone and laminate timber flooring industries. It incorporates 14 state of the art showrooms in Queensland and Victoria, each of which are fully equipped to handle all aspects of today’s tiling needs

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