16-28 Quarry Road, Stapylton

Overview

The asset comprises two warehouses located three minutes off the M1 motorway, 37 minutes from the Port of Brisbane and 29 minutes to the Gold Coast CBD. The clear span column free warehouses were constructed in 2007 and have 11.2 – 13.0 metre clearances, and recent leasing and capital expenditure initiatives have further enhanced the asset. The warehouses are leased to Woolworths (Endeavour Drinks), AMES Australasia (key supplier to Bunnings and owner of brands including Cyclone and Hills) and Gliders Transport.

Property Information

  • Building typeIndustrial
  • Year built2007
  • TitleFreehold
  • Metro areaBrisbane, South
  • ZoningMedium Impact Industry
  • Site area (hectares)8.1
  • Site coverage (%)41.5
  • Lettable area ('000sqm)41.4
  • Lettable area adjusted for ownership ('000sqm)41.4
  • Number of buildings2
  • OwnerDXI
  • Ownership (%)100
  • Major tenantWoolworths Group
  • Acquisition dateDecember 2020
  • Book value at ownership ($m)66.0
  • Independent valuation dateDecember 2021
  • Independent valuation at ownership ($m)66
  • Market cap rate (%)5.25
  • Leased by area (%)100
  • Weighted lease term by income (years)2.1
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