- 2.17 hectare site was sold in a week, with three interested buyers
- Queensland sale was handled by CBRE
Helmsman Invest has divested an industrial site covering 2.17 hectares to a self-storage business.
The site in Morayfield, which is 44 kilometres north of Brisbane’s Central Business District, borders Morayfield Woolworths along Market Drive and Church Street is a 2.17-hectare site.
The facility consists of approximately 7,466 square metres of warehouse space over multiple buildings.
The industrial investment totals $8.8 million.
The location of the site – near Morayfield Shopping Centre which consists of the two big supermarket chains along with Target, Kmart, Big W, BBC Cinema and over another 150 speciality stores – made the deal more attractive.
CBRE’s North Brisbane Industrial and Logistics Team, consisting of Hugh Adnam and Dillon Murphy, negotiated the sale on behalf of Helmosman Invest in a unique off-market deal.
The team approached Helmsman Invest – despite the fact they had settled on the facility only a week prior – to see if they would consider an offer.
“This site lends itself perfectly to its future use as a self-storage facility,” said Mr Adnam
The team believed the shortage of appropriate storage facilities in the local area contributed significantly to the success of the sale.
According to CBRE, the warehouse space will offer a secure return and offers development upside.
“Once we highlighted to Helmsman Invest what price we would be able achieve, we had three potential purchasers lined up and had secured a contract within a week for $8,800,000,” Mr Murphy added.