Local investor buys Richlands office/warehouse for $2.05 million and gets tenant to boot

by admin | 23rd February 2012

In a deal negotiated by King & Co’s Ben Donnelly*, a local investor has paid $2.05 million for a 1,440m2 building at 81 Fulcrum Street, Richlands. Concurrent with this transaction, he was also responsible for signing up its tenant, in this case to Statewide Cleaning cloths, which is committing to $164,000 pa in rent on a term of 6+3+3 years. The new  occupant is relocating from a smaller Browns Plains site.

Located on 3,367m2 of GI land, this new tilt panel office/warehouse has two crossovers and an undercover loading/unloading area of 380m2. Its clearspan warehouse is accessed via two container height troller doors, while the office is on the ground level.

Statewide Cloths purchases unwanted textiles from opportunity shops and ships them to 3d world countries, where they’re made into clothing for the underprivileged, a process that reduces domestic landfill by over 400 tons per week. In addition, they  spend millions of dollars yearly supporting charities such as the Salvos, St Vinnies, the Red Cross and those doing MS research.

The 17 year old company is headquartered in Melbourne, with additional operations in Brisbane, Sydney, Adelaide and Perth.

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