16 Industrial Ave, Wacol

Property Summary as at Sale Date

Ownership
100%
Acquisition date
1 November 2011
Sale date
13 November 2019
Site Area
21,750m2
Total area (NLA)
5,039m2
Occupancy
100%
WALE (income)
Approx 2.6 years at sale date
Tenant
Brisbane City Council
Sale Price
$9.5 Million

16 Industrial Avenue is a warehouse and office space leased to Brisbane City Council to accommodate its vehicle fleet maintenance operations. The asset has site improvements consisting of 639m2 office space and a 4,400m2 high bay portal framed warehouse. The site also has 8,782m2 of vacant land at the rear of the facility, accessible via a separate entry. The asset offers excellent connectivity via the Ipswich, Centenary and Logan motorways.

The decision was made to divest of the asset in FY20. Following a competitive EOI campaign, CBIC settled the sale on 13 November 2019 for $9.5 million. The buyer was Desane Group Holdings, an ASX-listed property investment and development company.