Morningside

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A Morningside freehold warehouse located in the southern TradeCoast has been picked up by an owner occupier for $3,500,000. 
Savills agent Shaw Harrison was initially appointed to lease the property located at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-qld-morningside-502520610" target="_blank">345 Thynne Road</a> as the previous owner occupiers had decided it was surplus to their needs. 
“Market activity at the moment is particularly thick with buyer interest and whilst we were initially promoting the property for lease, we received multiple offers to purchase the property at the same time,” Harrison said.
The property last sold for $2,530,000 in 2014 representing a 40 percent growth on the recent sale
Harrison said that the buyer who was in the warehousing &amp; logistics industry was spilling over in their existing warehouse around the corner.
“We actually had five other registered buyers that were disappointed when they missed out, as it wasn’t on the market long,” he said.
“I think users were attracted to the low site cover and usually properties with cranes or heavy rated power are popular because they are hard to find."
The 4,991 sqm site includes a corporate freestanding building of 1,810sqm which includes a renovated office over two levels and a warehouse fitted with a 5 tonne gantry crane and 12 metre wide sliding doors. 
“Engineering &amp; Logistics companies generally search hard for premises such as this as they are looking for buildings that can do the heavy lifting and high power supply as retrofitting is often expensive.
In a flurry of industrial deals settling from the start of the year, this is the fifth sale concluded to owner occupiers and with all properties having received multiple offers. 
The area is set to transform with proposed future mixed use developments of the old Forgacs Facility and Bulimba Army Barracks.
“We are still witnessing an enormous amount of cash in the market and conditions for owner occupiers are at an all-time high, but with the limited stock at present, exceptional capital growth for sellers is becoming more easily achievable
 
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Savills sell Morningside warehouse for $3.5 million

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A private investor has snapped up Morningside Plaza Shopping Centre, in Brisbane’s inner east at a record yield of 5.1 percent.
The figure matches the lowest ever recorded yield for a neighbourhood centre sale in Queensland. 
The off market transaction was brokered by Peter Tyson &amp; Jon Tyson of Savills for $23.8 million on behalf of Melbourne based veteran shopping centre developer and investor Lascorp Development Group. 
The Coles anchored property is located in Morningside, around five kilometres east of the Brisbane CBD with frontage to Junction Road. 
The 4,431 sqm enclosed mall is anchored by a 3,000 sqm Coles Supermarket with nine specialty shops and car parking for 233 vehicles. 
Savills, Peter Tyson said that whilst Morningside Plaza was not for sale, we received an aggressively priced offer from a private investor to purchase the asset.
“The buyer was seeking a suitable metro asset and was attracted to the long lease security from Coles the inner Brisbane location” Peter Tyson said. 
Savills also negotiated the sale of the centre to Lascorp in 2013. 
Lascorp then undertook an extensive refurbishment and repositioning of the centre, significantly improving parking, traffic and shopper foot flow through improved vertical transport, mall upgrade works and tenant remixing. 
“Metropolitan centres anchored by Coles or Woolworths in the sub $30 million price point are typically tightly held and have become an increasingly rare commodity in the marketplace”, Peter Tyson said. 
“We expect yields for quality neighbourhood assets to remain firm throughout 2018, reflective of this strong ongoing demand and tight supply.” 
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