In a strictly off-market transaction, Nathan Moore, Director of Ray White Commercial Bayside, in conjunction with Ben Hatch of Knight Frank, negotiated the sale of an industrial site in Brisbane’s prime Trade Coast precinct.
The 3 hectare property located at 72 Aquarium Avenue, Hemmant consisted of a 2 hectare development site and a 1,200m²* warehouse facility which was occupied by a long-term tenant who will be retained as part of the buyer’s investment strategy.
A second tenant who had been utilising part of the dormant portion of the site vacated their lease by mutual agreement, which will allow the buyer to redevelop the 2 hectare parcel into a 10,000m²* high quality industrial and warehousing project, with completion scheduled for late 2022.
Nathan Moore, Director of Ray White Commercial Bayside, negotiated the complex transaction on behalf of the seller, with the buyer introduced by Ben Hatch of Knight Frank. The landmark deal resulted in a sale price of $16,225,000.
If you’re looking for a strategic partner for your commercial project in Brisbane’s Bayside or South East Queensland region, contact Nathan Moore at Ray White Commercial Bayside today.