CG Property Group has recently transacted the sale of a major industrial holding located at 46-50 Unwin Street, Pinkenba. The 20,023 sqm property is improved with 9,555 sqm of gross floor area across several buildings, encompassing manufacturing, warehouse, dangerous goods storage, and office space. 

The sale was brokered by CG Property’s Michael Callow, Dan Munnich and Samantha Gould who declined to comment on the price however industry sources have indicated Westbridge acquired the property for circa $30,000,000. 

After an on-market sale campaign which generated significant interest and offers from institutional property funds, syndicators, and private buyers West Bridge Funds Management emerged as the successful purchaser, adding to its extensive Queensland industrial portfolio.

Michael Callow stated that the property was sold on behalf of a long-term private client with HMG a division of Sime Derby Industrial as the long-term tenant. 

He added that opportunities of this scale, underpinned by a global tenant covenant, rarely become available in the TradeCoast.

Dan Munnich highlighted that the property and its infrastructure are critical to the tenant’s production line which supported their long-term commitment to the site. He emphasized that the Westbridge has the opportunity to value add to the asset while enhancing the efficiency of the tenant’s day-to-day operations.