Centuria offloads Brisbane warehouse

The 1.89 hectare Wacol site contains a 9704 square metre office/warehouse.

Westbridge Funds Management is paying $16.1 million for a Wacol industrial investment.

The deal, with Centuria, which held it in a New Zealand fund, reflects an 8.6 per cent net passing yield.

On 1.89 hectares, the property contains a 9704 square metre office/warehouse, car and truck parking.

Penske Commercial Vehicles, a subsidiary of New York listed Penske Automotive Vehicles, is on a lease expiring in 2025, but with options can stay 10 year more (story continues below).

CG Property’s Mark Gilbride and Michael Callow with CBRE’s Jack Pershouse and Peter Turnbull were the agents.

Wacol is about 17 kilometres south west of Brisbane.

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Marc Pallisco

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