13/03/09 - Tapping Into A Golden Chance
Courier Mail Prime Site - 13/03/2009
Bathroom supplier Reece won out in a move to lease a warehouse on a large parcel of land at Enoggera.
The bathroom supply company, which was previously based in the same street, has now totally refurbished the site and moved in.
According to Trent Bruce or Raine & Horne Commercial, the property proved so popular when it was offered for lease that a number of bids were made to buy it.
But he said the owner was keen to hold on to the asset and now had a secure tenant in place for 10 years with a 10 year option.
The lease is worth $325,000 a year for a 2,250sqm warehouse on 8,342sqm of land at 90 Pickering Street.
Mr Bruce said initially they had been appointed to find smaller tenants for the site which was to be redeveloped, but Reece saw the opportunity and signed up.
Mr Bruce said potential buyers who thought it was a great redevelopment opportunity, because there was so much vacant land attached, were also keen to get hold of the property.
Raine & Horne Commercial has been appointed to find new tenant for Reece's old premises at 32 Pickering Street.
A Reece spokesman said they had been based in the previous premises at Enogerra for about 15 years.
"Enogerra is I suppose the hub of what is happening on the west side of Brisbane, it is a great location," he said.
"We have gone from just having a plumbing branch in the smaller location to extending our services."
He said the new premises meant it now had a showroom and could run its civil business out of the property handling refridgeration, heating, airconditioning and even irrigation.
For further information, contact Marketing Agent Trent Bruce on 0423 591 528.