Growthpoint sells neighbouring Brisbane Airport leaseholds
Growthpoint has sold neighbouring leasehold investments, one which recently became vacant, in the suburb of Brisbane Airport.
The buyer is Brisbane Airport Corporation for a speculated $14 million.
Within the Export Park Estate, the priciest property, 5-7A Viola Place (outlined, image, top) carried a $11m book value in December.
Covering 3.51 hectares it contains 14,726 square metres of warehouse, office and showroom space developed in 2004.
Also with a dangerous goods store and a significant hardstand area with hail netting, it is leased to Eagers Automotive until 2032.
The second property, 3 Viola Pl, spreads 1.25ha with a 3431 sqm modern office/warehouse.
Until February it was occupied by Cargo Transport Systems.
Brisbane Airport Corporation, the privately owned operator and long-term leaseholder of Brisbane Airport, which abuts 3 and 5-7A Viola Pl, is controlled by a consortium of institutional infrastructure investors including Queensland Investment Corporation, Schiphol Group, IFM Investors (which recently took over ISPT) and Igneo Infrastructure Partners (continues below).
BAC buys more of neighbourhood
The deal come a year since BAC acquired 7 Viola Pl from ESR.
On 1.49ha, that property contains a 6619 sqm office/warehouse.
The Growthpoint assets returned a combined $1.4m annual rent when listed for sale mid last year.
CG Property Group’s Michael Callow and Sammy Gouild with Savills’ Shaw Harrison and Callum Stenson were the agents.
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