INDUSTRIAL properties are being increasingly targeted in off-market transactions as competition among buyers targeting the sector heats up.
Among the latest deals is the $11.862 million sale of a modern industrial facility at Yatala on the Gold Coast's northern fringe.
The property was secured by a private investor seeking a secure income and depreciation benefits, says Stewart Gamblin, who negotiated the sale along with Colliers International colleague Adam Wills.
"Currently we are seeing a trend where industrial investments such as these are selling off-market to active investor groups who don't want to compete with other buyers in the market," Gamblin says.
"So if the financials stack up, they quickly proceed to contract to secure the property."
The Yatala property, located on a 1.71 hectare site at 30 Union Circuit, is tenanted by Vulcan Steel which has four years remaining on its lease. The tilt-slab building has a floor area of 8664sqm.
"The large facility is designed to suit various users in engineering, manufacturing or logistics industries," says Gamblin.
"It features seven 10-tonne cranes which fully service the facility. The clearspan warehouse was also designed with a truck drive-through and drive-around capability for all weather loading and unloading."
The Yalata industrial precinct has been a strong performer over the past year with a number of sales recorded. Wills says there are other transactions nearing finalisation in the industrial hub, and he is forecasting continued growth into 2016.
"Many of the businesses in the precinct are well established now and as they grow they have a strong preference to remain in Yalata," he says.
"This is coupled with increased levels of interest out of the Gold Coast and Brisbane from large-scale tenants looking for new cost effective warehousing."
Colliers International also has secured the management of the property which has been sold on a short settlement period.
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