A Commercial Office asset for sale in the Brisbane suburb of Darra is expected to be highly sought after when it is taken to the market next month. 2 Westlink Court Graystone Business Technology Precinct Westlink Green for sale by Blake Goddard and Matt Barker of Knight Frank. 

The 3,274sq m property at 2 Westlink Court, situated within the Graystone Business Technology Precinct Westlink Green, has 2,698sq m of net lettable area over two levels, with 108 car parks.

It is 85% occupied with 54% of the asset leased to the major medical tenant, Montrose.

The property, which has a price guide of around $16 million, will be taken to the market via an Expressions of Interest campaign run by Blake Goddard and Matt Barker of Knight Frank on behalf of the property owner, One Funds Management Limited as trustee for the Benlee Stronghold Property Trust No.12.

Mr Goddard said the suburban office market had been strong since COVID-19, with tenants increasingly seeking space outside of the CBD and closer to employees’ homes.

“Graystone managed assets have successfully leased almost 10,000sqm of office space across the Graystone Technology Precincts since July 2021, taking their portfolio’s vacancy rates to a very low 5.85 per cent.

“This activity underpins the message that suburban office is in high demand, which in turn has increased investor appetite for this type of product since the COVID-19 pandemic.”

Mr Barker said investors would be attracted to the asset not only because of the asset type, but because it was a high-quality modern property, completed in 2014, offering secure income with upside, and in a convenient south western location.

“In addition to this, medical-anchored assets have become extremely sought after in the recovery from COVID, and we expect interest in this asset to be no different,” he said.

“It offers an excellent A-grade investment opportunity with substantial holding income for a modern workspace and an expansive land holding.

“The cash flow is anchored by national and international tenants, including Montrose, Mulgowie Farming Company and Austbrokers, providing income security through recent economic uncertainty.

“There is also an immediate opportunity to improve the running yield via pro-active leasing campaign for impending vacancies.”

Mr Goddard added that the property occupied a strategic position within the recently developed BTP Westlink Green, located in Brisbane’s western growth corridor and just 20 minutes from the Brisbane CBD.

“The precinct is adjacent to the Darra Railway Station and provides direct access to the Centenary and Ipswich Motorways creating an easily accessible corporate location for a range of occupiers.”

Westlink Green is one of Brisbane’s latest business parks developed by Graystone, the developers of other noteworthy office parks including Brisbane Technology Park at Eight Mile Plains and Northshore Hamilton.

Upon completion, Westlink Green will become a hub for business, comprised of six office assets and a multi-storey car park centred around the historic powerhouse.

The expressions of interest campaign for the Darra property will close at 4pm, Thursday September 2. 

To request a copy of the Information Memorandum please contact one of the marketing agents via the contact details below. 

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