Kingston Industrial Estate
- Client Watpac Property
- Market Industrial
- Division Property
- Value N/A
- Status Complete
The Kingston Industrial Estate is located in the heart of Logan City, south of Brisbane and a 25 minute drive to the Port of Brisbane, Brisbane Airport and the Brisbane CBD. The estate is central to a number of population centres, including the Sunshine Coast, Toowoomba, Ipswich, Gold Coast, and northern New South Wales.
In early 2010 Watpac Property announced it had secured a deal with Coates Hire for a 47,000sqm site at the Kingston Industrial estate. The 15-year lease is believed to be the largest industrial land lease deal completed in the past two years in south-east Queensland.
In July 2012 Watpac Property announce Coates Hire would expand their existing facilities at the Kingston Industrial Park by taking a further 10,600m2 portion of the estate under a new, 20-year lease agreement.
The deal will return $1.62 million net annually in rental returns, and was subsequently on sold to Charter Hall for $20.5 million, representing a yield of 7.92%.