Huge Gracemere shed sells for over $15M
A LARGE industrial shed at Gracemere housing long-term tenant Toll NQX has sold for $15.1 million to a Western Australian private investor.
State Chief Executive at Colliers International Simon Beirne said the property received "significant enquiries from investors".
The transport terminal which once housed Toll Holdings is located at 45A Somerset Road in Gracemere and includes land area of 27,506 m2 and floor area of 7000 m2 and was leased on a long-term basis to TOLL.
Simon said the property had received significant interest from graziers and rural land holders.
"They know the Gracemere location due to the sales yards being located there," he said.
"We are seeing more off farm investment as rural land owners have been experiencing better returns through higher commodity prices and hence re-deploying capital outside their current on farm holdings."
Simon said commercial property investors are interested in regional locations that "can provide better returns outside major capital cities."
"Gracemere's Industrial precinct has been positioned to specialise in mining, gas and energy, transport, freight and logistics, agriculture and food processing, manufacturing and construction."
Toll relocated to the location in 2014 as a strategic move to support its extensive remote area road network running services from Rockhampton to Brisbane and all Central Queensland areas including Gladstone, Biloela, Moura, Emerald and Mackay, as well as the Bowen Basin, Clermont, Barcaldine and Longreach.
"We believe our move to Gracemere is a big step towards improved service, for local and regional customers, especially the mining sector."
Toll's NQX General Manager Greg Smith said at the time.
- Modern logistics facility completed in 2014;
- Located in the Gracemere Industrial Area (GIA) with direct access to the Capricorn Highway via the newly constructed overpass;
- Significant two street frontage (348 metres);
- Leased to global logistics giant TOLL Transport, a wholly owned subsidiary of Japan Post which has a market capitalisation of $2.5 trillion;
- Impressive rental growth structure of 3.75%pa-fixed.