An industrial development in Hemmant has sold out for a total of $11.085 million. 

Located at 1305 Lytton Road, the Caves at Hemmant development is an 11 lot development of industrial strata warehouse units ranging from 180sqm to 380sqm. 

Features include exposure to Lytton Road, three phase power, LED lighting, suspended concrete mezzanines, electric container height roller doors, self contained bathroom and kitchenette amenities, and air-conditioning.

The units were marketed by RWC Gateway agents Jared Doyle and Jack Gwyn on behalf of the developers, Phil Rhodes and Austin Ward who had previously completed similar projects at Coorparoo, Oxley, Salisbury, Acacia Ridge and Sumner.

The units ranged in price from $855,000 to $1.74 million. 

“The majority were sold to owner occupiers with only a couple selling to investors,” Mr Doyle said. 

“The property was developed during a changing market where we saw thirteen interest rate rises, so the end products became more suited to owner occupiers as opposed to investors who were chasing yields. 

“That said, we achieved some terrific rates per square metre on the two units that were purchased by investors.”