Cold storage warehouse Investment, located between 2 cities.
To be acquired at 7.2% initial yield – settled
The property is situated about half way between Brisbane and the Gold Coast in an industrial park known as the Yatala Enterprise Area (YEA)
The entire precinct is around 3000 HA and has easy access to all of south-east Queensland via the M1 freeway, including the Gold Coast, Brisbane, Ipswich and the Darling Downs, it’s multiple airports and the Port of Brisbane.
The property itself was built in 2009 and would provide easy adaptation to numerous warehouse uses with it multiple ingress, egress and loading bays. Currently and for the foreseeable future, it facilitates cold storage, meat processing & packaging. It has also a nicely appointed 2 level corporate office.
The tenant, Top Cut Foods Pty ltd trading as “Top Cut Meats”, are wholesale butchers. They store, process, and supply meats throughout Australia and export into Korea, Japan and the Emirates. The tenant has recently negotiated an extended lease term of 12 years at a rental of $988,082 pa with indexation each year. Top Cut’s local customers include the military, jails, hospitals and mining sites.
The quick snapshot then is
Net Lettable Area 4598 m2 approx. including mezzanine of 1000 sqm.
Land Area 7980 sqm approx.
Tenant : Top Cut Foods Pty Ltd
Lease term: 12 years
Initial yield 7.2% pa
Current Base Rent $988,082
Purchase Price $13.66 M
Participation for wholesale investors with min investments of $1m.
All areas and figures are approximate only. All reasonable steps have been taken to ensure the accuracy of this information and this does not constitute any representation by us as agent and should be considered a guide only.