28/02/2014 - Virginia Package Covers All Bases
Virginia Package Covers All Bases
A future-proofing acquisition has secured a foothold for expansion on Brisbane’s northside for a manufacturer of communications and control-room systems.
Base2 – a company boasting installations in the White House, Microsoft World Headquarters in Seattle, the Sydney Opera House and Cape Canaveral space launch facility – snapped up the Virginia holding in a $2.05 million deal.
The property at 29 Yarraman Place comprises a 1038sq m office/warehouse on a 3135sq m site.
It adjoins an almost identical but older facility at 33Yarraman Place that Base2purchased for $1.9 million about 12 months ago.
Both deals were negotiated by Lawrence Temple from Raine & Horne Commercial. Mr Temple said more than20 inquiries were fielded during the marketing campaign for 29 Yarraman Place.
“There was a lot of interest in the high $1 millions ... but the vendor held out for the final price,” he said.
Mr Temple said althoughBase2 had bought the property as an owner-occupier, it did not need the additional space immediately.
“They love Virginia and they’re basically future-proofing themselves,” he said.
“It safeguards them from having to get up and move to expand their operation.
“And although they won’t be utilising it straight away, over the next six to 12 months the plan is to progressively move into it.
”The property features138sq m of office space over two levels, a 900sq m warehouse with 6m-plus internal height, three-phase power supply and four container height roller doors.
Source: The Courier Mail, 14 February 2014