Trilogy Funds Management is paying $22.05 million for a Coolum Beach industrial investment.
The price for 15-17 Dacmar Road reflects a 5.8 per cent net passing yield.
The deal is the largest for a Sunshine Coast warehouse in more than 10 years.
Low site coverage
Two buildings with a combined 7351 square metres cover about a third of the 2.13 hectare site.
The property is fully leased to Weir Minerals until 2030; with options, the tenant can stay until 2040 (story continues below).
The warehouse component has a nine metre clearance and eight gantry cranes.
The office area is high-quality.
In May, Trilogy paid $10.025m – a price reflecting a 5.5pc return – for a Carrum Downs factory leased to mattress maker Tempur.
Last year the manager – for its Trilogy Industrial Property Trust – outlaid $12.05m for a Gold Coast industrial investment leased to Downer EDI limited subsidiary Mineral Technologies.
Subscribe to our newsletter at the bottom of this page.