Clarence picks up another Murarrie asset

Clarence Property has paid $18.2m for Paringa Industrial Park.

Clarence Property has paid $18.2 million for its latest Murarrie investment.

On 2.3 hectares, the Paringa Industrial Park at 31 Paringa Road contains two modern office/warehouses with a total 8500 square metres.

Security group Wormald recently moved into part of one of them.

Pentair also occupies a building.

Clarence said the asset is fully leased with a Weighted Average Lease Expiry of four years.

Centennial Industrial and Logistics previously held it.

Murarrie is about six kilometres south of Brisbane Airport (story continues below).

Another Murarrie investment for Clarence

The Paringa Industrial Park acquisition comes five years since Clarence outlaid $10.3m for a multi-unit complex at 45 Alexandra Place – its first Australian industrial property.

Seven months ago the group outlaid $8.8m for a modern office/warehouse in the suburb – 185 Queensport Rd North, which is 85 per cent occupied by medical equipment maker Smith & Nephew.

Last week we reported the Ballina based fund manager spent $8.4m on an office-converted-childcare centre in Brisbane’s inner west Milton.

Outside of Queensland, Clarence recently gave Hampton Property Group $14.5m for a three level Tamworth medical centre – with a nine year WALE.

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Marc Pallisco

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

Marc Pallisco