- Coolum property sold to private buyer for $22M, negotiated by Collier International
- 10-year lease with Weir Minerals, expected to return $1.28M annual income
- Rising interest in industrial sector particularly in regional areas, says Simon Beirne
An industrial property on the Sunshine Coast recently sold for an impressive $22 million, the area’s most valuable sale in the past decade.
The property, located at 15 and 17 Dacmar Road in Coolum, was campaigned for expressions of interest by Colliers International agents Nick Dowling, Simon Beirne and Sam Riley.
The 2.13 hectare property was owned by a private vendor and is currently tenanted by Weir Minerals, who has operated from the property since 2010.
Weir Minerals is an international company specialising in the manufacture of mining equipment, and currently occupies the Coolum property on a ten-year lease until 2030 with two further five-year options.
The buyer, a private investor, will receive a 9.4 year weighted average lease expiry and an annual net income of $1.28 million.
Industrial sector booming
Simon Beirne, the Colliers Queensland State Chief Executive, said major investment opportunities particularly in regional areas are currently highly sought-after.
“The sales and logistics market is receiving significant attention at the moment, with all capital sources confident in the performance of this asset class over the near term.”
Simon Beirne, Colliers Queensland State Chief Executive
The booming logistics market comes as no surprise, given CBRE‘s predictions the industrial and logistics sector would smash the record for the most space leased this year, at over 3 million sqm.
Nick Dowling, Managing Director of Colliers Sunshine Coast, said he was enthused to see rising interest in the Sunshine Coast from privates and trusts across the nation.
“The Sunshine Coast industrial market has really matured over the past 2-3 years and the investor market has picked up on this,” he said.
Mr Beirne added the increased attention towards industrial real estate is being driven by Covid lockdowns and the ongoing lack of product supply.
Prime location
The Coolum property sale reflected the booming nature of the industrial sector, spanning 2.133 hectares of medium impact industry zoned land.
The property has a low site coverage of 32% and is in a prime location of the Sunshine Coast industrial precinct, in proximity to the Sunshine Motorway, Bruce Highway and Sunshine Coast Airport.
The 7,351 sqm net lettable area features a modern office layout, nine meters high of factory space, multiple roller-door entryways and eight overhead gantry cranes.
