RF Corval has purchased two neighbouring Wacol investments for its Industrial Infill trust.
On similar sized plots, creating an amalgamated 1.83 hectares, the properties were acquired from separate landlords.
The total outlay was $15.8 million.
CBRE’s Jack Hardy and Sean Skeffington brokered the off-market deals.
Sites to be developed over time
The assets are near the Ipswich Motorway offering access to south east Queensland’s wider arterial road network, according to Mr Hardy (story continues below).
“This transaction represents the growing desire for private entities to sell their properties 0ff-market, capitalising on significant demand within the industrial and logistics sector, which has continued to escalate due to the sector’s resilience following the pandemic,” he added.
All up with 7690 square metres, 52 Formation St is leased to ASX-listed Pact Group, while #60 is tenanted to Rocky’s Own Transport.
“The properties represent large infill land holdings within one of Brisbane’s most established industrial precincts,” according to Mr Skeffington.
“The sites offer significant holding income for the purchaser who has a vision to add value…over time and capitalise on the lack of industrial land in the area, which has benefited from record low vacancy rates,” he said.
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