A high-quality industrial investment in Brisbane’s southwest is expected to be  highly sought after when it hits the market this month given the rarity of the offering. 

The modern and multi-tenanted industrial facility at 63 Tile Street in Wacol, around 16 kilometres from  the Brisbane CBD, consists of 7,804sq m of office and warehouse space across three buildings situated on a 16,187sq m site. 

The property is 100% leased to producer One Harvest and steel distributor Southern Sheet and Coil. 

Features include B-double and drive-around access, access via multiple on-grade roller or sliding  doors, a large 850sq m awning connecting Buildings A and B and three gantry cranes with 10-tonne  lifting capacity. 

The industrial asset is being taken to the market via an Expressions of Interest campaign run by Mark  Clifford, Elliot Ryan and Ned Jefferies of Knight Frank on behalf of the vendor, Centennial. 

Mr Ryan said the property offered investors an opportunity to acquire scale in the highly sought after and well-established southwestern industrial and logistics hub of Wacol. 

“The strategically-designed industrial facility caters to a range of occupiers in manufacturing and  processing as well as warehouse and distribution, and both its features and location will support long term tenant demand. 

“Wacol is a prime distribution hub with direct access to 1.4 million consumers within a 30-minute drive. 

“It is bounded by three main freight routes, namely the Logan Motorway, Ipswich Motorway and  Centenary Highway.” 

Wacol is home to many of the key industrial occupiers, with Tile Street home to many well-known  groups including Hitachi.  

Mr Clifford said prime industrial assets of the calibre of 63 Tile Street were rarely offered to the  market, and as such, the property was expected to generate strong interest. 

“The property has a high underlying land value across a substantial land holding and its short WALE  of 2.4 years allows for strong positive rental reversion, both of which are drawcards for buyers,” he said.

“Industrial continues to be one of the most sought-after sectors for investors, and high-quality  properties offering strong potential for future growth and upside in the form of rental reversion or  development potential are hotly contested, and 63 Tile Street offers both. 

“The Wacol industrial precinct experienced significant rental growth of up to 40% in the sub-4,000sq m  category over the past two years, and the precinct’s vacancy is sub 3 per cent, supporting the  sentiment for continued growth for this market into the future. 

“Given the scarce supply of land availability the south west corridor, many investors are seeking  strategic acquisitions to unlock future rental reversion within a highly desirable location.” 

The Expressions of Interest campaign for the property will close at 4pm (AEST) on Thursday, May 8.

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