Properties at 134-160 Ingram Road and 220-240 Bradman Street in Acacia Ridge totalling 37,958 square metres of building area have been sold for $42.08 million. 

The buildings, which are occupied by Austube Mills Pty Ltd and Onesteel Reinforcing Pty Ltd with long term lease commitments to both assets, were sold via an Expression of Interest campaign marketed by Simon Beirne and Matthew Frazer-Ryan from Colliers International and Tony Iuliano and Gary Hyland from JLL, on behalf of KordaMentha. 

Mr Beirne said the site was one of the Brisbane’s best industrial investment opportunities to be offered to the market last year.

"Throughout the sale process, we received substantial interest from major institutions and large syndicates who appreciated the calibre of this large-scale portfolio due to its solid and stable income and the recapitalised tenants covenant following the GFG Alliance acquisition," he said.

At a glance:

• Properties at 134-160 Ingram Road and 220-240 Bradman Street in Acacia Ridge totalling 37,958 square metres of building area have been sold for $42.08 million.
• The buildings are occupied by Austube Mills Pty Ltd and Onesteel Reinforcing Pty Ltd with long term lease commitments to both assets.
• The deal was negotiated by Simon Beirne and Matthew Frazer-Ryan from Colliers International and Tony Iuliano and Gary Hyland from JLL, on behalf of KordaMentha. 

“Terms of the sale were agreed in Q4 2018 with the settlement delayed until now to process the title change from leasehold to freehold.

“The secure 9+ year WALEs is currently returning a total of $3.3 million per annum.”

Mr Frazer-Ryan said one of the major selling points was that both properties directly benefit from an 800m long rail siding which links directly to the Acacia Ridge Rail Terminal, the largest road and rail intermodal terminal in South East Queensland. 

“These properties are two of only eight Acacia Ridge sites between 3ha and 25ha with either existing or potential direct rail access to/from the Acacia Ridge Rail terminal,” he said. 

“Acacia Ridge is well placed for access to major road and rail routes.

"The state’s infrastructure construction cycle is due to peak next year, once multiple major projects are in full swing, and industrial sector activity is following the upward trajectory.”

The property at 220-240 Bradman Street comprises multiple freestanding structures over three titles and 58,600sqm site area which are leased to Onesteel Reinforcing Pty Ltd.

The site comprises a 9,239 square metre building, carpark, small office building, 23,791 square metres of unimproved vacant land with development potential (STCA), and an office warehouse facility.

The 44,547sqm site at134-160 Ingram Road comprises several buildings located across two titles with a total GFA of 25,471sqm.

At the rear of the site is an active rail siding that provides direct access to the Acacia Ridge Rail Yards.  

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