THE Moreton Bay Region suburb of Brendale has become a hotbed of owner-occupier activity in recent times as three commercial properties sold for a combined total value of $5,900,000.
The properties were marketed and sold by Ray White Commercial Queensland Managers Aaron Aleckson and Andrew Doyle and Director – Brokerage Services Paul Anderson.
The stand-out sale of the three came at 14 Maxwell Street(pictured above) as the trio sold the 1403sq m* office and warehouse to owner-occupier Tara Forklifts for $2,760,000.
Elsewhere, 1/25 Kingsbury Street sold to an owner-occupier in the wholesale goods field for $1,760,000, and 2/25 Kingsbury Street sold to an owner-occupier Smenco Welding Equipment for $1,380,000.
“These three sales in the New Base Estate shows that Brendale and the north Brisbane market as a whole are still in a great position,” Mr Aleckson said.
“Unit two at 25 Kingsbury and 14 Maxwell Street were sold sight unseen by the directors of the companies – with the local managers making the final decisions due to COVID-19 restrictions set in place. It was a real compliment to the design and construction of the buildings.”
“It’s great to see the owner-occupier market heating up in Brendale. A lot of the previous sales have been to investors, however as interest rates continue to fall, there’s no better time for companies that have been leasing to purchase their own premises,” Mr Doyle said.
“IDG Group, who developed 14 Maxwell Street, currently has two more buildings under construction in the area. Both 16 and 20 Robertson Street, Brendale,” Mr Anderson said.
“Both are freestanding buildings being 2,786sq m* effectively. Judging by the overload of inquiry on 14 Maxwell Street, these two will surely go fast.”
The Brendale industrial market has really matured over the past couple of years,” said Director of IDG Group Garry McNamara.
“This is obviously driven by the lack of supply in areas like Geebung and Eagle Farm, but also due to the tremendous improvements in roads and logistics accessing this newer Brendale industrial area.
“The new estates, like here at New Base and where our next two projects are based in the adjoining CSR estate, have provided affordable and practical-sized opportunities for many local small to medium enterprises.”