Case Study - 23 Lear Jet Drive, Caboolture

J U S T S O L D - C A S E S T U DY

TYPE INDUSTRIAL

NLA 3,348M2

SOLD 23/07/2021

YIELD 6.4%

ENQUIRY 12

OFFERS 3

SALE PRICE $7,170,000

MARKETING $3,000

CABOOLTURE INDUSTRIAL ATTRACTING SOUTHERN INTEREST 23 LEAR JET DRIVE, CABOOLTURE QLD

There may be no better barometer for the increasing pressure on northern corridor industrial assets than the recent sale of 23 Lear Jet Drive in Caboolture’s tightly held Corporate Park Estate. The multi tenanted freestanding asset has just changed hands for $7.17 million, reflecting a 6.4% yield at $2,141m2. The sale was negotiated by Ray White Northern Corridor Group’s Aaron Canavan and Director Chris Massie, who has sold the same property on two previous occasions.

CHRIS MASSIE 0412 490 840

DIRECTOR - COMMERCIAL PRINCIPAL chris.massie@raywhite.com

“While the fundamentals for this deal are sound for both buyer and seller, you don’t have to roll the clock back too much to see how far this market has come” said Chris Massie. Selling for the first time in 2014 for $3.57 million, the property was sold again a year later for $4.86 million. This latest sale equates to more than a 100% increase since Mr Massie first sold the property in 2014. “The building is the same, the tenants are largely the same. I think the sum total of cap-ex has been three light bulbs and a hedge trim. Truly the only thing different is investors’ belief in this region and this asset class.”

AARON CANAVAN 0447 744 948

SALES & LEASING EXECUTIVE aaron.canavan@raywhite.com

“Southern investors are looking at this area with fresh eyes and seeing that it’s an inevitable hub to service one of the largest concentrations of residential growth Australia will see in the next fifteen years.” Observed Northern Corridor Group Director and Senior Analyst Ashley Rees. “We’re sitting with a 96% industrial occupancy rate and local investors are still carrying their old opinions that this Northern Corridor is just the poor cousin of the more expensive southern precincts. If they’re not looking at the Northern Corridor of today and the trajectory of the region then they’re getting beaten out by those that are.” raywhitecommercialnortherncorridorgroup.com.au

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Case Study - 23 Lear Jet Drive, Caboolture

Published on Aug 3, 2021

Ray White Commercial Northern Corridor Group

There may be no better barometer for the increasing pressure on northern corridor industrial assets than the recent sale of 23 Lear Jet Drive in Caboolture’s tightly held Corporate Park Estate. The multi tenanted freestanding asset has just changed hands for $7.17 million, reflecting a 6.4% yield at $2,141m2. The sale was negotiated by Ray White Northern Corridor Group’s Aaron Canavan and Director Chris Massie, who has sold the same property on two previous occasions. “While the fundamentals for this deal are sound for both buyer and seller, you don’t have to roll the clock back too much to see how far this market has come” said Chris Massie. Selling for the first time in 2014 for $3.57 million, the property was sold again a year later for $4.86 million. This latest sale equates to more than a 100% increase since Mr Massie first sold the property in 2014. “The building is the same, the tenants are largely the same. I think the sum total of cap-ex has been three light bulbs and a hedge trim.