Centennial locks tyre group to Oxley

Centennial purchased 141A Boundary Road from Pipeclay Lawson Limited.

Centennial has found a tenant for a chunk of a major Oxley industrial investment bought in two parts, from different vendors, about three years ago.

O’Green Tyres has signed up for 4925 square metres – a tenancy known as 141B Boundary Road (pictured, top) – paying a starting annual rent speculated to circle $120 per sqm.

The space forms part of a 7818 sqm warehouse – some 7261 sqm of which was recently listed for rent – which Centennial bought from Sentinel Property Group in late 2020 for $12.05m.

Shortly after, Centennial outlaid $15.54m for an industrial investment next door – 141A Boundary Rd – with a 3153 sqm building leased to Chep until 2026 – from Pipeclay Lawson Limited.

All up its amalgamation covers 3.65ha also with access from Blunder Rd.

Buildings cover a low site area – offering longer term development upside.                             

Another Queensland deal

Oxley is 13 kilometres south west of Brisbane’s CBD (story continues below).

The 141B Boundary Rd property – which was also listed for sale late last year – is about 750 metres from the Ipswich Motorway.

CBRE’s Jack Hardy, Jack Sherrie and Sam Parker secured O’Green.

Elsewhere in Queensland, last year, Sydney based Centennial sold a former Stapylton wrecking yard to Isuzu, to occupy.

In 2022, meanwhile, the fund manager teamed with MaxCap to speculatively develop a $90m business park: The Link Industrial Park, with nine buildings at Willawong.

Also that year Centennial outlaid $23.7m for Brisbane industrial investments at Darra and Pinkemba.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.