Steel giant expands in Northgate
Watkins Steel has added another Northgate property to its book.
Following an off-market deal, the steel fabricator picked up 103 Raubers Road – a 6400 square metre warehouse on 1.84 hectares – for $20 million.
It will be added to neighbouring assets – 43 Raubers Rd, acquired in 2019, and 1/95 Raubers Rd, purchased the year later.
Watkins Steel owner Des Watkins also holds an office/warehouse at nearby 106 Depot Road, Banyo – occupied as Watkins Steel’s headquarters.
Watkins backs Northgate again
Watkins paid $7.6m for 43 Raubers Rd and $2.45m for #1/95.
The latest property is leased to Apex Steel and Veolia Water Services.
Watkins intends to move in longer-term; the asset was purchased more for the flexibility to expand than any immediate plan to.
Mr Watkins said it is otherwise difficult finding a five hectare-plus amalgamation in the pocket, 14 kilometres north of Brisbane’s CBD.
CG Property’s Mark Gilbride and Michael Callow were the agents
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