A multi-tenanted logistics facility with significant value-add prospects in Brisbane’s western corridor has come up for sale for the first time since it was constructed.

The property comprises a 12,584sq m industrial facility on a 4.83 hectare corner site at 67 Boundary Road in Carole Park.

It is being taken to the market via an Expressions of Interest campaign run by Knight Frank agents Mark Clifford, Elliot Ryan and Ned Jefferies in conjunction with JLL’s Harry Homan and Sam Stewart.

Mr Clifford said the industrial facility represented one of the best large-scale, low site cover investment opportunities to be offered to market in Queensland in 2023.

“The property occupies a high-profile corner site with dual street access and frontage, and is strategically positioned just 250 metres from the Logan Motorway on and off ramps providing fast connectivity to other major transport infrastructure,” he said.

“The multi-tenanted asset provides a diversified income stream, with a WALE by income of 3.66 years.

“It has strong historical occupancy and is a very well-regarded facility amongst the transport industry.”

The asset is currently occupied by five tenants including Inverell Freighters, Eastern States, Wyton Transport, GKR and Masuta Bros Pty Ltd, with a net rental income of $1,692,237 plus GST.

Mr Homan said the facility provided significant and flexible value-add opportunities with development upside and future rental reversion.

“The significant landholding of 4.8 hectares has strong underlying land value, located at the entrance of an established industrial precinct and centrally located between the Brisbane CBD and Ipswich CBD.”

“Given the significant spending on recent infrastructure projects over the last five years including the upgrades and widening of the Ipswich Motorway, the western corridor has directly benefitted from an increased level of occupier and tenant demand and continuously experienced high levels of leasing activity and rental growth.”

Other nearby major occupiers within the precinct include Visy, Sealy, Volvo, Simon National Carriers, Blackwoods and Vulcan Steel.

The Expressions of Interest campaign for the property closes at 4pm on November 16 (AEST).