A major Coolum industrial property tenanted by a blue-chip international tenant has sold for $22 million in the largest industrial investment sale on the Sunshine Coast in the past 10 years.

The sale was achieved via an expressions of interest campaign undertaken by Colliers International’s Nick Dowling, Simon Beirne and Sam Riley.

The property, located at 15 and 17 Dacmar Road, is fully occupied by Weir Minerals, a global UK-based mining group with annual turnover of more than $3.7 billion. The company has occupied the site since 2010 and recently expanded its operations.

Weir Minerals currently has a 10-year lease on the property until 2030, plus two five-year options, offering the purchaser a 9.4-year WALE on the asset with an annual net income of $1.28 million.

Mr Beirne, the Colliers Queensland State Chief Executive, said the sale highlighted the trend of major capital investment opportunities currently being sought in regional locations.

“The sales and logistics market is receiving significant attention at the moment, with all capital sources confident in the performance of this asset class over the near term,” he said.

“Covid-related lockdowns and undersupply of product has seen a great deal of attention being directed towards this real estate asset class.”

“The Sunshine Coast industrial market has really matured over the past 2-3 years and the investor market has picked up on this. It is great to see interest from privates and trusts from all over Australia in our region,” said Nick Dowling, Managing Director of Colliers Sunshine Coast.

The property, which features a low site cover of only 32 per cent, is located in a well-established, central Sunshine Coast industrial precinct close to the Sunshine Motorway, Bruce Highway and Sunshine Coast Airport.

The property, comprising a land area of 2.133ha zoned medium impact industry, features 7,351sqm of net lettable area across two buildings.

The structures feature a modern corporate office fit-out with the factory areas offering huge nine-metre internal clearance with multiple roller-door entries and eight overhead gantry cranes.

The vendor and buyer of the Coolum property are both private investors. 

To request a sales analysis please contact the selling agents via the below contact details.