Gateway Capital has purchased its second industrial investment in a fortnight.
The 6.55 hectare asset, 227-247 Fleming Road, Hemmant, in Brisbane’s Trade Coast region, is costing $36.1 million from Centennial Industrial and Logistics.
Twenty one buildings with a total lettable area of 15,744 square metres cover just under a quarter of the block.
“This asset emphasises the growing demand for properties with upside within Brisbane, given the forecasted economic growth of the region and significant investment in infrastructure that is planned or currently underway by the government,” Colliers’ Gavin Bishop who introduced Gateway Capital with colleagues Anthony White and Sean Thomson said.
“Infill industrial markets such as Hemmant are becoming extremely popular with occupiers and investors given the access to the Port of Brisbane, Brisbane Airport and major road infrastructure,” according to the agent.
“Value-add opportunities in the short to medium term with a range of repositioning outcomes under consideration,” Mr White added (story continues below).
“The central location has always been well received by tenants in the marketplace”.
Mr Thomson said “demand for industrial & logistics assets has surged globally as investors have looked to reweight or increase their weighting to the asset class on the back of the e-commerce boom, which accelerated during the pandemic”.
Late last month Gateway paid $36m for an industrial investment on three hectares in Sydney’s Thornleigh.
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