112 Cullen Avenue, Eagle Farm

Property Summary as at Sale Date

Ownership
100%
Acquisition date
February 2011
Sale date
March 2015
Site Area
20,082 m2
Total area (NLA)
11,911 m2
Occupancy
96.5%
WALE (income)
Approximately 4.7 years
Major Tenants
Brisbane City Council, Freedom Fuels
Sale Price
$20.7 Million

Cullen Avenue is located in the established industrial suburb of Eagle Farm and was purchased by CBIC in early 2011 as a long term investment.

At the time of acquisition, the property was tenanted by Queensland Government, Hungry Jacks, Freedom Fuels and Plastral Enterprises.

CBIC subsequently leased over 5,800 sqm to Brisbane City Council to accommodate their file storage and inner-city logistics operations.

In early 2015 the property was sold to one of Australia’s largest property funds.