United banks $8m for outgoing servo
Osprey Property Holdings has paid $8 million for an industrial investment in Toowoomba’s Wellcamp.
United Petroleum sold 7/57 Heinemann Road.
On two hectares, the asset contains a 1924 square metre office/warehouse surrounded by hardstand.
There is also a drive- through awning and wash bay.
It was offered with an ancillary lease to Pacific Petroleum expiring 2028 for an unmanned service station.
Annual net income was $184,795.
It will instead be rented to Sunstate Truck Group which is expanding into the region (continues below).
Cushman & Wakefield’s Daniel Cullinane was the agent.
Settlement was a short 30 days.
The deal comes four months since realestatesource.com.au reported Perth-based Ascot Capital paid $43m for three Queensland industrial properties sold by Wagners, including a 4.6ha facility at Harristown.
Last year, Sentinel Property Group sold its only Toowoomba asset, a five-building industrial complex at Wilsonton, for $16.25 million, having paid $11 million for it in 2020.
Wellcamp, about 20 kilometres west of central Toowoomba, contains the Toowoomba Wellcamp Airport and major freight infrastructure.
Subscribe to our newsletter at the bottom of this page.
