Brisbane boatbuilding facility trades off-market
Another waterfront asset in Brisbane’s Australia TradeCoast precinct has sold.
Offered with a leaseback, the Murarrie asset, 39 Rivergate Place, found favour with an interstate private investor for $7.5 million.
Norman R. Wright & Sons is the occupier.
The 1385 square metre holding with unrestricted water access contains a purpose-built boatbuilding facility.
The initial leaseback term is five-years (continues below).
“The property represented a rare investment opportunity given its specialised improvements and unique waterfront capability,” CG Property Group marketing agents Mark Gilbride and Jonathon Burrowes said.
Campbell Gordon of Alvero Property, formerly Evolve Property Solutions, acted for the buyer.
The deal comes 15 months since realestatesource.com.au reported Clarence Property paid Centuria $42m for the neighbouring property – occupied by Yamaha Motors Queensland headquarters and distribution centre.
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