Slacks Creek Investment Sold for $2.45 Million
A warehouse investment opportunity in the tightly held Slacks Creek commercial and industrial precinct, south of Brisbane, has been sold by Ray White Commercial Gold Coast for $2.45 million.
The property at 53 Moss Street, Slacks Creek, which has had the same tenant for almost a quarter of a century, was sold prior to auction to a local investor by Ray White Commercial Gold Coast’s Michael Willems.
Michael Willems said the industrial/warehouse was sold on behalf of a local investor for a net yield of approximately 7.5 per cent.
“This investment opportunity was snapped up prior to going to auction,” he said.
“The property is located on a busy intersection and is surrounded by national and international companies including Autobarn and John Deere.
“It is generating net rental income of approximately $184,000 per annum and the long term tenant has recently signed a new is 5 + 5 + 5 year lease.
Michael Willems said the Slacks Creek property offered a building area of approximately 800 sqm on a land area of 1,138 sqm.
“Slacks Creek has consistently been one of the strongest South Brisbane markets over the last 40 years,” he said.
“The precinct continues to be a tightly held commercial location from a supply and investment perspective.”