An industrial facility in the Brisbane suburb of Banyo has been negotiated and sold in the midst of the Covid-19 lockdown following an expressions of interest campaign.

The property 25 Buchanan Road, Banyo was sold to a private investor for $11,500,000 reflecting a yield of 6.40 per cent. 

At a glance:

• An industrial facility at 25 Buchanan Road, Banyo has been sold to a private investor for $11.5 million at a yield of 6.4 per cent.
• The property has been tenanted by Ergon Energy since 2008.
• The transaction was brokered by CBRE's Dan Munnich and Edward Bull, in conjunction with Cushman & Wakefield.

Comprising a building area of 5,150 square metre, the industrial building includes office space (868 square metres) and a warehouse (4,288 square metres), as well as six gantry cranes.

Ergon Energy has occupied the facility since 2008 and has recently renewed on a further 3-year lease term with options. 

Source: CBRE

The expressions of interest campaign was conducted by CBRE's Edward Bull and Dan Munnich, in conjunction with Cushman & Wakefield. 

Mr Bull told WILLIAMS MEDIA CBRE sourced the buyer shortly after the conclusion of the campaign.

"The strong sale result was attributed to the high quality of the building improvements along with the strong tenant covenant Ergon Energy Corporation Limited," he said.

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