QLD Ballet doubles its money in sale of a Yatala land parcel and GLT moves into Carole Park
Queensland Ballet makes a motza, trailer manufacturer secures a big new HQ, and a fund buys up – these are some of Qld’s hottest commercial property deals of the week.
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The Queensland Ballet Company has offloaded a large parcel of land between Brisbane and the Gold Coast for almost double what they paid for it in 2021.
They recently sold the cleared 2.58ha site at 11 Transport St, Yatala, for $12.65m to national document storage and digital solutions provider Grace Information Management, the sister company to Grace Removals.
According to CoreLogic Queensland Ballet Company settled on the purchase of the site in August 2021 for $6.82m.
JLL’s Jordan Page, who handled the sale with colleagues Koen Dovey and Sophie Nasser, refused to comment on the vendor.
However, he said Grace Information Management’s move into Yatala created a strategic link between its Gold Coast and Brisbane operations, among its wider South East Queensland network. Grace will develop the parcel for storage as an owner-occupier.
“The Brisbane-Gold Coast corridor continues to experience accelerated growth, which is manifesting itself in sharpening demand and tightening supply in industrial precincts,” he said.
“In securing such a substantial footprint, Grace has primed itself for future expansion and evolution to meet the needs of public and private sector clients.
“The investment speaks to its confidence in the region’s potential and its dedication to fostering economic prosperity.”
Ms Nasser, who held a strong relationship with the vendor, said she was very pleased to achieve such a great result for the client.
Mr Dovey said Yatala was a pivotal industrial hub.
“Yatala has experienced significant growth during the past 24 months as one of the few precincts with development-ready industrial land stock, although this has now been exhausted,” he said.
“Renowned for its connectivity, infrastructure and business-friendly environment, it has become recognised as an ideal base for major businesses with access along the M1 and the centre-point between Queensland’s two major regions; Brisbane and the Gold Coast.”
A spokesman for Grace Information Management said: “This acquisition is yet another milestone for our rich 113-year history and ongoing commitment to growth and property investment.
“We are excited for the future opportunities this new facility will bring as we continue to diversify our Australian Group of iconic brands and businesses.”
Room to expand
One of Australia’s leading trailer manufacturers has secured a new headquarters in Brisbane outer south west with plans to double its output over the next few years
GLT has an 11-year lease with an option on a 15,000sqm state-of-the-art office/warehouse Carole Park. The moves comes after the consolidation of two warehouses in Crestmead which will enable the business – formerly known as Graham Lusty Trailers – to expand its in-house operations.
GLT chief executive Shay Chalmers said the strategic move means the company will have greater control over the manufacturing life cycle.
“The entire fabrication and manufacture of our trailers, from start to finish, will now take place inside the four walls of our Carole Park facility,” she said.
“From fabrication, to sandblasting, washing and painting, to repairs, we’ll now be able to conduct it all to our high standards onsite and the facility additionally boasts a wastewater treatment.”
The property is at 2/39 Silica St and is owned by Stockland. It was previously occupied by trailer manufacturer MaxiTRANS which opened the facility in February 2021.
Last year it announced it would close its doors in March 2024 due to increasing costs and labour issues and return to Ballarat.
Industry sources say GLT would be paying between $130/sqm and $140/sqm for the property
“We planned to move in 2025-26 but this facility came up that was perfect and built for trailer manufacturing so we expedited our growth plans. We actually executed out three-year growth strategy in 12 months,” Ms Chalmers said.
It will mean GLT’s production capacity will increase considerably with the new facility enabling the company to super-size its repairs capacity, and its staff which currently stands at about 130.
“To be able to triple our staff and manufacturing capabilities to deliver even better quality and innovation than ever before to our customers is arguably one of the greatest milestones clocked in GLT’s history,” she said.
“In the next three years we plan to double our output.”
Ms Chalmers – who became GLT CEO last year – said it was a historic first for the company and it was the first facility of its kind to emerge in the national trailer industry in years.
She said the increased product innovation and production capacity at lower costs would bring a raft of benefits to customers.
“It allows the fast-growing team to control the quality of their products in a way that’s simply not possible when key aspects are being outsourced,” Ms Chalmers said
“We can now control every single aspect of our trailer manufacturing and ensure it’s being conducted exactly as it was designed and intended.
“Having full control over the process and the quality of all the components also means increased throughput time and that results in increased production capacity.
“Then there’s the cost – because the facility is purpose built for trailer manufacturing there are significant efficiency gains so that means we’ll have greater control of cost which will naturally flow on to our customers.”
In addition, GLT has created a dedicated research and development area which Ms Chalmers said will “drive the industry forward”.
“The greatly enhanced research and development component of GLT will be a major coup for the business and ensure the company stays at the forefront of trailer innovation,” she said.
“To be able to propel the industry to new heights is a milestone that transcends our company.
Deal adds up
The funds management arm of accountants KordaMentha, KM Property Funds, has secured a large site in Brisbane’s north, anchored by a car yard.
In partnership with Partners Private, KM Property paid $23.8m for the two adjoining sites at 23-25 South Pine Rd, Brendale, which will go into a new fund, KMPF Industrial 02.
The 4.8ha site is improved with hardstand and two warehouses providing 4097sqm of area under roof.
It is predominantly leased as a car yard to Austral, a subsidiary of the ASX-listed Eagers Automotive, with a weighted average lease expiry of 4.2 years.
KM Property Funds director of acquisitions Tom Korda said they were attracted to the property because it is next door to a major train station and zoned for higher and better use in an emerging Brisbane suburb and economy.
“What makes it even more attractive is the potential to grow the yield and investment value through rent reversion and active asset management. This all combined provided an attractive risk adjusted value-add forecast return for investors,” he said.
Knight Frank’s Elliot Ryan brokered the deal on behalf of Charter Hall which paid $19.7m for the property in October 2021.
The property is a significant land holding in Brendale’s industrial precinct, currently experiencing the lowest vacancy rate on record.
KM Property’s Tom Davis said it was the second venture with Partners Private after the success of its Dandenong South industrial investment.
“We will continue to target mid-market, high-growth industrial assets using local capital as that is what investors are seeking,” he said.
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