Banjo Bond buys Brisbane industrial asset
Banjo Bond’s Cosgrove Group has bought a major industrial investment abutting Brisbane Airport.
The 4.04 hectare amalgamation, 100 and 104 Main Beach Road, Pinkenba, cost $31.8 million – a 5.98 per cent net passing yield.
Manheim is the occupier on a lease expiring 2030.
Improvements include a high bay warehouse but the property is substantially hardstand.
The vendor, GLB Property Group, connected to the Byrne Group, paid $20.6m in two parts: #100 cost $11,5m in 2024 while #104 was $9.1m in 2022.
Both blocks are the same size (2.02ha) zoned Light Industry.
It was represented for the disposal by CG Property Group’s Dan Munnich and Michael Callow – who coincidentally sold both properties to them.
Banjo Bond is the son of Primewest co-founder, John, and grandson of late businessman, Alan.
Also today we are reporting ESR and Centennial sold smaller Brisbane industrial investments for a rise on prices paid three years ago.
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