Banyo Sites Sold for $1.9 Million
Two development sites at Banyo on Brisbane’s northside have been sold for $1.9 million by Ray White Industrial Milton.
The sites at 11 Guardhouse Road, Banyo, were sold to interstate investors by Ray White Industrial Milton’s Paul Anderson on behalf of a private seller. The two lots have a land area of 4,150 sqm, equating to a land rate of $457 per sqm.
“I was aware of a syndicate of interstate investors who had been looking to acquire an investment in the $3 million-$5 million range for a number of years,” Paul Anderson said.
“I saw this opportunity come up and pitched to them to build 2 x 1,200 sqm industrial freestanding buildings and then lease them. They were compelled by the opportunity – brand new sites with full depreciation and low maintenance combined with the estimated yield to be in the order of nine per cent.
“When you contrast that with considering the purchase of plus 10 year old buildings with leases selling freely in the 6.75 per cent to 7.5 per cent range, the savings and benefits are certainly attractive.”
Banyo is approximately 9km from the Brisbane CBD and close to Brisbane Airport, the Port of Brisbane and the rail network.