Helmsman Invest has divested a 2.17ha industrial site to a self-storage business. Hugh Adnam and Dillon Murphy of CBRE North Brisbane Industrial & Logistics team negotiated the sale on behalf of Helmsman Invest.

Next to the busy Morayfield Woolworths, the leased facility features approximately 7,466sqm of warehouse space over multiple buildings, returning a secure income and offering development upside.

Hugh Adnam and Dillon Murphy of CBRE’s North Brisbane Industrial & Logistics team negotiated the sale on behalf of Helmsman Invest, commenting on how the storage shortage in the area contributed to the success of the sale.

“This site lends itself perfectly to its future use as a self-storage facility,” Mr Adnam said.

The team approached Helmsman Invest off-market to see if they would consider an offer, even though they had settled on the facility seven days prior.

“Once we highlighted to Helmsman Invest what price we would be able achieve, we had three potential purchasers lined up and had secured a contract within a week for $8,800,000,” Mr Murphy added.