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[SOLD] 6-8 Geonic Street, Woodridge QLD

6-8 Geonic Street, Woodridge provides strong distributions underpinned by a functional industrial facility in a key infill location.

The property’s location in an established and growing retail catchment, coupled with its ‘mixed-use’ zoning, offers long-term potential to reposition the property for retail and showroom users. Given the property was acquired on industrial land value metrics, the greater income producing potential of retail uses represents considerable upside.

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%