Lend Lease Pays $27 Million For Queensland Industrial Asset

LEND Lease Real Estate Investments has paid a reported $27 million for a major property on Boundary Road, Richlands.

The 14,500 square metre warehouse was purchased on a yield of 8.2 per cent.

Part leased to Toll Transport, Colliers International Queensland chief executive Simon Beirne and said the sale and low yield demonstrated the appetite for well leased industrial assets (which typically sell on higher yields than other commercial and residential assets).

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Marc Pallisco

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