Toowoomba Civilmart industrial site for sale with $3m price tag through Colliers International

A top industrial site, whose tenant has leasing options until 2062, has hit the market in Toowoomba after it was passed at auction. See details here:

FOR SALE: Colliers International has listed the Civilmart depot and site on Cumners Road in Torrington for $3m, after it was passed in at auction.

A major industrial site on the outskirts of Toowoomba could sell for millions, after it hit the market with a seven-figure price tag.

The Civilmart Toowoomba depot and yard on Cumners Rd in Torrington passed at auction several weeks ago, but Colliers International is confident of finding a buyer for the two-hectare tenanted property located within the expanding Toowoomba Trade Gateway.

National tenant Civilmart, which combines 10 Australian precast concrete brands into the one place, has a 10-year lease over the site with options until 2062.

The current rent is estimated at $142,000 a year.

Colliers managing director Dan Dwan said he was still expecting investors to be attracted to the offering, despite the recent spike in interest rates for the first time in more than a decade.

“There’s still uncertainty around the share market, so there’s an extremely large amount of capital in the market looking for a return,” he said.

“There is an expectation we’ll see some softening of yields, but there seems to be interest from investors.”

Mr Dwan said he wasn’t seeing the usual sluggishness in the property market during and after an election campaign.

“We haven’t seen much of a slowdown that you would see during an election,” he said.

“There are metrics outside the political landscape that is driving the market — there seems to have been little to no impact.”