A private investor has purchased a 2,900sq m industrial facility at 457-459 Tufnell Road, Banyo in Brisbane’s north from a Melbourne Family for $7,000,000 which reflected a yield of 6.80%.
The property is leased to the Queensland University of Technology (QUT) on a new 5 year term.
Located in the strategically significant location of Banyo on Brisbane’s northside, this modern warehouse is home to the Queensland University of Technology’s (QUT) Pilot Plant Research Facility which is part of the Institute for Future Environments.
QUT originally moved into the building on a 10 year lease in 2010 and have invested heavily in the building over the lease term to ensure the asset meets the requirements of the University, and subsequently recently exercised their option for a further 5 year period commencing in May 2020.
The building is a modern, functional, freestanding tilt panel facility incorporating high bay warehouse together with well-appointed office and ample on-site car parking.
The deal was negotiated by Gregory Woods and Callum Stenson, Savills Australia who said the purchaser moved quickly to secure the property given the quality of property and the high caliber tenant covenant.
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