The asset at 570 Rode Road generated strong interest from both owner occupiers and investors, with the eventual purchaser - a local family group - moving decisively to secure the property with a long-term hold strategy and plans to lease the facility.
The property comprises a 1,201sqm freestanding industrial building on a 1,637sqm General Industry A site, located within the tightly held Rode Central estate in Brisbane’s inner-north.
RWC Queensland’s Paul Anderson said the result reflects a growing trend of private capital taking a long-term view on industrial assets.
“Every asset will face vacancy at some stage, so sophisticated buyers are looking beyond the current tenancy and focusing on the strength of the underlying real estate,” Mr Anderson said.
“We are seeing more private groups prepared to accept leasing risk in exchange for asset quality and location.
“In this case, the buyer has prioritised securing a brand new asset in a prime location, with a clear focus on the underlying real estate fundamentals rather than simply acquiring a tenant.”
RWC Queensland’s Andrew Doyle said Chermside continues to strengthen as a key inner-north industrial precinct.
“Chermside is a tightly held metropolitan infill location where opportunities are becoming increasingly limited,” Mr Doyle said.
“With the Rode Central estate now largely built out and very little remaining land supply, combined with proximity to major infrastructure, retail and healthcare amenity, the precinct continues to attract strong demand from both occupiers and investors.
“We’re excited to be working with the new owners to assist with leasing the property and provide a genuine one-stop shop solution.”
The transaction reflects a rate of approximately $4,250 per sqm, placing it toward the upper end of suburban industrial sales.
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