Mansfield Occupy with Income

13 October 2017

A purpose-built industrial facility has sold for $1,900,000 in Brisbane’s south-east to a local construction business.

Located at 21 Hugo Place in Mansfield, the property was sold by Savills Industrial Shaw Harrison on behalf of the owner-occupier.

Prior to the deal, the property was being openly marketed by a number of agents on an open listing basis however the campaigns were not receiving much traction.

The owner-occupier had worked with Mr Harrison previously and asked him to step in to find a buyer for the 880sq m building.

“We fielded plenty of enquiry and received a number of offers over several months, but the building was quite specialised with 45% office accommodation so finding the right buyer was tricky,” Mr Harrison said.

The building was sold to the buyer fully-leased at a rate of $2,160 per square meter and is further split into two tenancies.

Mr Harrison needed to find a user to occupy the upcoming 600sq m space, with the remaining 280sq m of the property already leased to Kukri Sports for $38,500 net per annum.

“The buyers are local business owners that wanted to stay within the tightly held Mansfield precinct. They needed the additional office accommodation for their business to handle their expected rapid business growth,” Mr Harrison said.

The building is of a high standard with facilities including a large boardroom, director offices, wet bar and high bay warehousing.

“The owners are a construction company, so they were pleased by the high level of finishes throughout which presents well to their visiting customers,” Mr Harrison said.

Mr Harrison said that the Mansfield area has been popular with owner-occupiers and tenants as it is a tightly held precinct with excellent proximity to the CBD and major road networks.

Many of the business owners and operators commute from the surrounding suburbs including Mount Gravatt, Carindale, Sunnybank and Rochedale, with many coming from as far as the Redlands.

 
 

Key Contacts

Shaw Harrison

Shaw Harrison

Director
Industrial & Logistics

Brisbane

+61 (0) 7 3002 8929