One owner occupier is paying another $8 million for a recently constructed Meadowbrook industrial facility.
On 1.8 hectares, with c200 metre frontage to Logan Motorway between Kingston and Loganlea roads, the property was offered with a two year leaseback by interests associated with Major Rigging.
The purchaser intends to move in a fabrication business it owns, after that time.
Their deal, negotiated by Cushman & Wakefield’s Clint Bott and Freddie Donne, is being struck on a 7.5 per cent yield.
Meadowbrook is about 26 kilometres south east of Brisbane.
This site – which hit the market a year ago – is also near the Pacific Motorway, connecting it to Southport’s CBD (story continues below).
Multi-purpose, land rich facility: agents
The agents describe 2 Meakin Road as an A-grade, multi-purpose, land rich facility.
Three structures – containing a total 4354 square metres of area – cover 24pc of the land, which has full drive around access and 4300 sqm laid as heavy duty hardstand.
Inside, the buildings are designed out with open plan and partitioned offices and clearspan warehousing.
There’s also about 445 sqm of awnings.