Asset manager flips Brisbane warehouse for premium
A Sydney based asset manager has sold a vacant Brisbane industrial asset after nearly two years.
Precept Property Partners will finish in the black following the $10.5 million deal for 1819 Lytton Road, Lytton.
It paid $7.5m settling in July, 2023.
The property was offered for sale or lease last year.
If a tenant was found, Precept would have refurbished.
“Following an extensive eight week marketing campaign, we were able to attract a number of offers from a diverse range of parties including investors, occupiers and tenants, culminating in an outstanding result,” CBRE’s Ben Lyons, who brokered the deal, said.
“Despite the economic challenges faced in 2025, the limited available stock combined with sustained demand from both occupiers and investors has led to robust performances across the industrial market, particularly the Tradecoast/Port of Brisbane region,” he added.
The deal comes 13 months since we reported Precept – in its first retail acquisition – with Stabilprop paid $31.5m for the Bathurst Homemaker Centre.
Argus Property Partners and Kaipara Property Group were the sellers.
CBRE’s James Douglas was the agent.
More to come.
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