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Courier Mail - Position Attracts Tenants

Written by Michelle Hele

An industrial park at Yeerongpilly has proved a magnet for tenants with deals worth more than $1.15 million in annual rental secured to date this year.

In the past month, $207,000 worth of leases have been signed in the Yeerongpilly Corporate Park. The development, on Station Rd, Yeerongpilly is being developed by Inco Property Group.

Corporate Property Manager, Nigel Brock, said the group settled on its acquisition of the site in December.

Property records show it paid $15.95 million for the 5.3ha holding that was previously owned by Brims & Sons.

Mr Brock said they had contracted to buy the site some time before settlement so they had plenty of time to start marketing space for lease.

The group already owned a business park on the other side of the road, which had previously been called Yeerongpilly Corporate Park its name was changed slightly with North added to the end when this site was acquired. The new holding is now known as Yeerongpilly Corporate Park.

It has about 15,000 m2 of building on the site and about 60% of the space has been leased.

Mr Brock believes there are a few reason the Corporate Park has appealed to tenants to date. He said it was only 7km to the CBD and there were not many opportunities to find industrial space so close to the city.

It is close to the railway station and not far from traditional industrial suburbs such as Rocklea.

“Strategically it is a good location for a lot of businesses” he said. Brad Ashley of Colliers International said among the 20 tenants to put their hand up for space are Rycon Packaging, which has secured a a 674 m2 warehouse/office for $70,729 for two years. DV & HC Vrinceanu, which trades as Toll Manufacturing has taken a lease out on 291 m2 external hardstand for five years.

Al Scrap metal has leased a 371 m2 warehouse and 1000sqm hardstand for two years and Sun Water has taken a six month lease on a 173 m2 warehouse and 67sqmn awning.

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