13/07/2012 - Van yards grabbed
A strategic game of musical caravan yards on Brisbane’s northside has led to the sales of two large industrial sites in deals totalling $3 million. The properties at 38 and 67 Radley St, Virginia, were occupied by Arrow Caravans which relocated after acquiring the nearby former home of Kratzmann Caravans. Kratzmann this year vacated its facility at 1768 Sandgate Rd and merged its operations to create Queensland’s largest caravan retailing megastore at Burpengary.
‘‘The proposition of being only 500m away but on busy Sandgate Rd in a site which was purpose built for caravans was an opportunity too good to refuse for Arrow’s owner, Barry Barker,’’ Raine & Horne Commercial’s Lawrence Temple said. Mr Temple subsequently negotiated the sales of Arrow Caravan’s holdings in Radley St. ‘‘The site at 38 Radley St served Arrow well from 1988 until they needed more room and purchased 67 Radley St in 2002 to accommodate their caravan sales and display,’’ he said.
Both properties were snapped up a week before they were due to go under the hammer. The 4,426sqm site at 38 Radley St was sold to Concrete Pumping Sales and Equipment for $1.85 million plus GST. ‘‘They were leasing a property much smaller just around the corner for a number of years,’’ Mr Temple said. ‘‘It was time for them to move, they’d outgrown their previous premises and in the current climate they decided it made better sense for them to buy something than lease again.
‘‘This property was a perfect fit due to the size, location and large hardstand areas and so they moved quickly to secure it.’’ The holding comprises a 1,245sqm metal-clad clearspan industrial shed with 5-6m of internal height. It features a 180sqm ground floor showroom/office with a high load-bearing mezzanine storage area above. The surrounding site is mostly sealed with high-stress concrete with an area of about 1,400sqm at the rear covered with compacted road base.
‘‘Due to the low site coverage it was a very rare offering in the Virginia/Geebung industrial precinct and therefore received a total of 37 inquiries with a number of offers put forward prior to auction day,’ Mr Temple said. The other property at 67 Radley St was sold for $1.15 million plus GST to an owner-occupier, who plans to develop it into a cold storage facility primarily for dairy products. It is a level security-fenced block of 4,047sq m zoned future industry, and attracted about 25 inquiries.