Brisbane manufacturing plant sells for $17.4m
A sprawling Brisbane industrial property has traded between local private investors for $17.4 million.
The result for 44-56 Potassium Street, Narangba, reflects a 4.13 per cent net passing yield.
The tenant is Cubis Systems, operating as Infrastructure Products Australia, a subsidiary of Ireland-based building materials group CRH.
On 2.4 hectares zoned General Industry, also exposed to Neon and Radan streets, the property contains a 9555 square metre improvement used to manufacture underground infrastructure products.
About 530 sqm mix is open-plan and partitioned offices.
Nearly 5000 sqm of the block is hardstand.
The property also has 40-marked car spaces.
Development upside
The property was marketed for its development upside falling within the Narangba East planning investigation area which is examining future land uses, employment opportunities and infrastructure requirements across the growth corridor (continues below).
Colliers’ James Wilkie, Angus Yule, Hugh Fletcher and Beau Newman brokered the deal.
The property failed to sell in 2021, via a different agency.
Then it was leased to two tenants returning $567,147 per annum net ex-GST.
This time around, the passing rent is $718,980.
Also this week realestatesource.com.au reported an industrial investment at Pinkenba traded for $16.833m – a 5.55pc yield.
That 1.08ha asset, 14 kilometres north-east of Brisbane’s CBD, is leased to Nasdaq listed Tetra Tech.
Naranbga is 35km north of town.
Subscribe to our newsletter at the bottom of this page.
