28/06/2013 - Buyer reaps business bonus - New HQ a blast for Quarry

Chris Herde

A QUARRY and mining support company searching for larger headquarters has snapped up an industrial property as well as the business operating there.  Quarry Plant Solutions paid $1.8 million for a 4,077sqm property at 47 Sodium St, Narangba.  Leisa Cull, whose partner Andy Hill owns Quarry Plant Solutions, said the company outgrew its 300sqm warehouse unit at Arana Hill.

‘‘We were initially looking for somewhere to house Quarry Plant Solutions,’’ she said.  ‘‘We looked around a bit and couldn’t find a property that was suitable but we found this one and it came with another business (Queensland Sandblasting) so we ended up with both of them.’’

The property has two olderstyle secondary grade warehouses with an office component over a total area of 1,450sqm.  The property last changed hands in 2006 for $1.22 million when it was bought by Nugate Holdings.  Ms Cull, who is now a director of Queensland Sandblasting, said the businesses will operate out of the same property.  She said Quarry Plant Solutions looked at many sites.

‘‘We had no office area at Arana Hills. I had to do the office from home. Now we have it all in the same location which is excellent,’’ she said.  ‘‘Also, it’s an excellent location, close to the highway and businesses around who support each other.’’

Raine & Horne Commercial’s Nick Bandiera, who struck the deal, said Quarry Plant Solutions had looked at properties in Brendale, Clontarf and Deception Bay before settling on 47 Sodium St.

‘‘The property had been available for about eight months,’’ he said.  ‘‘It was taken off the market two months before the sale transaction because we weren’t getting the expected sales price.  ‘‘But we were lucky to negotiate an off-market sale to Leisa and Andy for $1.8 million.

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Mr Bandiera said “the sale was good news for potential vendors in the area.’’  ‘‘There has been a few transactions in that area over the last six to eight months which has really dropped capital values in that area,’’ he said.  ‘‘There’s been a lot of receivership sales that have impacted and put a negative aspect on the area. It was a good result for the area for the type of building.

‘‘There is a growing demand level for low site coverage industrial freestanders in the Narangba area and existing options for buyers are currently very thin on the ground. ‘‘The sale represented a fight

back in capital values for the area.’’

 

Source:  The Courier Mail, Primesite, 28 June 2013