GPT sells Woolworths-anchored Stapylton distribution centre for $65.52m

On 8.15 hectares, 16-28 Quarry Road contains two buildings.

The GPT Group has sold a multi-tenanted Stapylton industrial investment to APN Industria REIT for $65.52 million, reflecting a 5.67 per cent net yield.

Covering 8.15 hectares, 16-28 Quarry Road contains 40,970 square metres of lettable area in two buildings.

The investment contains 40,970 square metres of lettable area.

Woolworths is the anchor occupier; in April Gliders Transport rented a 5700 sqm space.

The investment has a short (3.2 year) Weighted Average Lease Expiry.

Colliers International’s Simon Beirne and Gavin Bishop with JLL’s Tony Iuliano and Gary Hyland were the sales agents.

At Brisbane’s southern outskirts, Staplyton is about 40 kilometres north of Surfers Paradise, within the Yatala Enterprise Area which is forecast to service 40,000 jobs within decades (story continues below).

Recent Yatala Enterprise Area deals

Two weeks ago Allianz and Charter Hall acquired a distribution centre in the suburb, as part of an Aldi leaseback.

Last month another Frasers Property Industrial secured Pacific Optics to a 9107 sqm warehouse in the neighbouring Yatala.

In October Centuria paid ESR Australia $43m for an Ormeau logistics investment rented to Maxwell Cold Storage.

A year ago, City of Gold Coast outlaid $12.8m for an 85ha Yatala farm it will repurpose for recreation use.

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Marc Pallisco

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

Marc Pallisco