Isuzu snares wrecking yard from Centennial
Centennial has sold a former wrecking yard at Stapylton to Brisbane Isuzu which plans to occupy.
In the Yatala Enterprise Area – a 3300 hectare zone connecting Gold Coast’s north with Brisbane’s south – the 4.25 hectare property, 183 Burnside Road, is setting the truck dealership back $16.85 million.
The deal reflects a strong capital gain for the seller which paid $9m as an investment in 2018.
Centennial was last year trying to lease it – as a whole or in parts, with spaces available from the fourth quarter of this year.
The pocket is near an Aldi distribution centre Charter Hall picked up in 2020 as part of a $929.4m leaseback portfolio.
Also in the suburb three years ago, GPT sold an 8.5ha industrial investment for $65.25m to APN Industria REIT – a fund later taken over by Dexus.
Stapylton is about 40 kilometres from Surfers Paradise.
183 Burnside Road
With 3993 square metres of improvements, buildings cover 10 per cent of the Burnside Rd block (story continues below).
Centennial offered it permit-ready for another 16,211 sqm of product.
“There was significant interest in the site as it was in a great position with the opportunity for future expansion,” Colliers’ David Brisk, who brokered the deal, said.
“This acquisition further increases Brisbane Isuzu’s service offering across South East Queensland,” he added.
“Sites in this area are always in demand due to the location and Yatala Enterprise Area being home to well known occupiers including Aldi, Caterpillar, Woolworths, Australia Post, Stihl, JELD-WEN, Harvey Norman and Bidford,” according to the agent.
Earlier this week we also reported that National Tiles committed to a 17,500 sqm facility at Frasers Property Industrial’s Vantage Estate in the neighbouring suburb of Yatala.
In Melbourne, Isuzu occupies a 4.6ha Truganina distribution owned by Dexus.
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