Centennial, ESR profit from Brisbane warehouses
Two major asset managers have sold Brisbane industrial investments for a rise on what they paid in 2022.
At Stafford, Centennial banked $9.6 million for a 2983 square metre low impact industrial complex with 2341 sqm, in six tenancies.
It paid $4.8m almost exactly three years ago – then set about fully leasing it.
Nowadays known as the Stafford Business Park, 10 Wolverhampton Street and 10 Harvton, could also have been subdivided, over four titles.
Meanwhile, ESR collected $8.775m for 739 Progress Road, Wacol – a recycling plant permitted for noxious, offensive and hazardous waste.
It paid $7.2m in mid-2022.
On 8108 sqm at the corner of Production St, there are 3378 sqm of improvements.
CBRE’s Jack Hardy was the agent.
JLL’s Matthew Sheldon, Nick Lidonnici and Dan Goodrum brokered the Stafford deal.
Also today we are reporting Banjo Bond’s Cosgrove Group is paying nearly $32m for a Pinkenba industrial investment.
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