Caboolture Complex Sold at Auction for $1.3 Million

13 August, 2017 / Dan Costello

Caboolture Complex Sold at Auction for $1.3 Million

A cold store depot in an established industrial estate with highway exposure at Caboolture, north of Brisbane, has been sold at auction for $1.3 million by Ray White Commercial.

The property at 79-81 Lear Jet Drive, Caboolture, was sold under the hammer to a local business operator by Dan Costello of Ray White Commercial (Qld) and Chris Massie of Ray White Commercial North Coast Central on behalf of a multinational dairy company.

Dan Costello said there was a strong response to the marketing campaign for the property and the auction at Ray White’s corporate rooms in the Brisbane CBD attracted four registered bidders.

“There was keen bidding for this asset and the property sold under the hammer for $300,000 over reserve,” he said.

“The buyer intends to further develop the property to suit their own needs given their business operations were within the immediate area.”

Chris Massie said the location of the approximately 3,359 sqm site with an approximately 220 sqm building area was a major attraction.

“With land becoming increasingly difficult to purchase, the opportunity to secure a substantial regular shaped allotment with flexible use and the ability to add value was an opportunity that strongly appealed to potential purchasers,” he said.

“The property, which included a cold storage facility with offices and amenities, is located on the eastern side of the Bruce Highway in an established industrial estate on the turn-off to Bribie Island.

“There is front and rear access through seven loading bays, significant concrete apron on three sides and full perimeter fencing.”