A private investor has swooped in to acquire the Queensland headquarters of temporary power generation equipment supplier Aggreko within the Motorplex at Westgate Estate, with the deal representing an initial return in the low 6 per cent range.

The off-market transaction at 18 Bivouac Place was brokered by Savills Industrial & Logistics State Director, Callum Stenson for $9.3 million after having previously negotiated the pre-lease earlier this year.

At a glance: 

• The Queensland headquarters of temporary power generation equipment supplier Aggreko has been sold for $9.3 million, reflecting an initial return in the low six per cent range.
• The off-market deal was brokered by Savills Industrial & Logistics State Director, Callum Stenson. 
• The site is underpinned by an income stream of $585,000 per annum for 10 years.

Publicly listed on the UK stock exchange, Aggreko specialise in commercial power generation supply and, due to demand, had outgrown their existing Darra facility.

“Aggreko went to the market with a controlled brief to lease 1,800 sq m of building on 12,000 sq m of land and found Metroplex at Westgate to be the ideal location,” Mr Stenson said.

The site is underpinned by an income stream of $585,000 per annum for 10 years.

Mr Stenson said construction company Spaceframe developed the build to suit facility in one the best industrial estates in the Brisbane Market. 

“Existing facilities with such a low site cover are incredibly hard to find and are never usually built on a speculative basis," he said.

“Hence why the design and construct option was the best option for the tenant.

"This sale indicates that good quality investment stock is still very well sought after."

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