Savills News

Private investor powers up to acquire Aggreko investment

A private investor has swooped in to acquire the QLD Aggreko headquarters within the Motorplex at Westgate Estate, with the deal representing an initial return in the low 6% range.

A private investor has swooped in to acquire the QLD Aggreko headquarters within the Motorplex at Westgate Estate, with the deal representing an initial return in the low 6% range.

The off market transaction at 18 Bivouac Place was brokered by Savills Industrial & Logistics State Director, Callum Stenson for $9.3 million after having previously negotiated the pre lease earlier this year.

Publicly listed on the UK stock exchange, Aggreko specialises in commercial power generation supply and due to demand had outgrown their existing Darra facility.

“Aggreko went to the market with a controlled brief to lease 1,800sq m of building on 12,000sq m of land and found Metroplex at Westgate to be the ideal location,” Mr Stenson said.

Spaceframe developed the build to suit facility in one the best industrial estates in the Brisbane Market.

The site is underpinned by a strong income stream of $585,000 per annum for 10 years.

“Existing facilities with such a low site cover are incredibly hard to find and are never usually built on a speculative basis,

“Hence why the design and construct option was the best option for the tenant,” Mr Stenson said.

Mr Stenson said that this sale indicates that good quality investment stock is still very well sought after.

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