Oceana Property Partners

PORTFOLIO

[SOLD] 6-8 Geonic Street, Woodridge, QLD, Australia

Precept Industrial Brisbane

[SOLD] 6-8 Geonic Street, Woodridge QLD

The Property provides a fantastic mix of strong distributions, functional facilities and in an infill location with longer term higher and better use potential due to the site’s mixed-use zoning.

6-8 Geonic Street, Woodridge is a quality industrial asset located in an established and growing retail precinct. Acquired on industrial values but with retail and showroom upside due to its mixed-use zoning, the Property provides fantastic income generating capabilities but with significant upside through repurpose of the improvements to higher and better uses.

PROPERTY FEATURES

ACQUISITION DATE

November 2021

PROPERTY TYPE

INDUSTRIAL

PROPERTY SIZE

3,632 sqm

LAND SIZE

6,793 sqm

KEY CHARACTERISTICS

Functional Configuration: Comprising two separate buildings and a central yard, the property provides the manager the ability to lease to separate tenants if required.
Secure Income Stream: The Property is 100% occupied by Service Body Manufacture a wholly own subsidiary of an ASX listed company.
Replacement Costs: Acquired in line with replacement cost for the land and building.

SALE DATE

August 2023

IRR

12.3%