Brisbane office/warehouse sold with a leaseback
National print business Ultra Labels has sold its Brisbane headquarters with a leaseback.
The group banked $16.5 million for 65 Backhouse Place, Eagle Farm.
The result, to a private investor, reflects a 5.45 per cent net passing yield.
The incoming owner, a private investor, will also be able to claim depreciation benefits for tax, with the warehouse recently extended and power upgraded, to 750kVA.
65 Backhouse Place
On 5914 square metres zoned Industry B, 65 Backhouse Pl contains a 2793 sqm improvement (continues below).
Ultra Labels offered it with an initial 10 year leaseback.
There is a strong rent review mechanism with access to a mid-term market review.
Knight Frank’s Ben Hatch and Elliot Ryan brokered the sale.
Eagle Farm is about nine kilometres north east of Brisbane’s CBD.
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