A copy of FKP’s media release is below:
A big brand trucking company has further secured its position in the Brisbane market after signing a 10 year lease for a dealership and service centre at an industrial complex, which is an FKP managed fund asset.
Iveco Australia has moved into the Rocklea complex at 1805 Ipswich Rd, after acquiring Black Truck Sales, a family owned company that had been operating out of the premises.
Executive General Manager Commercial and Industrial for FKP, Andrew Hall said it was a perfect location for Iveco due to the number of trucking companies in the area.
“The area is home to major businesses including BOC Gases, Haulmark Trailers, Mercedes Benz Trucks, Dulux, Loscam and other trucking related businesses,” Mr Hall said.
“The 10 year lease is a long term commitment to local customers and to business on the 5.3ha site.”
The building is well suited to the Iveco operation and boasts:
* Combination of office and reception areas;
* Adjoining spare parts area and warehouse; and
* Service centre at the rear.
It is also conveniently located near the Ipswich motorway and the South East Queensland major arterial road network. Half of the site has been built on, while there is a Development Application for a second building on the remaining part of the site.
“Iveco certainly has room to grow in this location, which would have helped their decision to stay,” Mr Hall said.
Now leased, the industrial property, which is part of a closed end investment fund, will be placed on the market by FKP.
“With a strong international company on board for at least the next 10 years the asset would be a very attractive investment. There is also the potential to further develop the site and increase returns over the medium term,” he said.
“FKP is a diversified property company with expertise in funds management, residential and
commercial and industrial development, land sales and retirement operations and management.