North Lakes

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A building in the suburban Brisbane masterplanned Lakes Vista Office Park, located in North Lakes,  has sold for $6.75 million.
Building 12 incorporates 1,382 square metres of office and retail space, as well as 46 car park bays.
The property was purchased by Stronghold Investment Management, headed by Steve De Nys and Tony Boyd.
The sale realised an initial yield of 8.29%.
Once fully developed the office park, located just over 25 kilometres north of the Brisbane CBD, is planned to have approximately 13,228 square metres of commercial accommodation.
JLL’s Christian Sandstrom said the sale was indicative of the strength of the suburban office market in the city, with over $100 million worth of office buildings being transacted in 2016.
“Designated office parks in Brisbane have matured, with more experienced investment groups having accepted them as a designated office/employment precincts and we believe they will become increasingly popular by investors,” said Sandstrom.
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Surburban Brisbane office building sells for $6.75 million

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A new office/warehouse warehouse located within the North Lakes Business Park, near Brisbane, has sold for $3.1 million just weeks after completion.
The 7 Flinders Parade property sold to Austraw, an Australian manufacturer and importer of barware accessories, in a deal negotiated by JLL’s Nick Bandiera.
The North Lakes Business Park is positioned alongside the Bruce Highway, one kilometre from the North Lakes Town Centre.
The property provides a total building area of 1,900 square metres situated on a 3,970 square metres allotment. The building offers a combination of showroom (100 square metres), office (186 square metres) and warehouse (1,614 square metres), split over two levels at the front of the building.
The warehouse is accessed via three container height roller doors, providing 8.4 metre internal height at the eaves, plus 36 on-site car parks.
Bandiera said the sale demonstrated strong acquisition demand for modern, freestanding facilities on the Northside.
“At over 55 hectares, and located within 30 minutes of the Brisbane CBD, the North Lakes Business Park is the premier business park catering to Brisbane’s northern growth corridor, catering for industrial, wholesale, retail and the high-tech industry,” he said.
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