Benlee Property Trust No 6
The Benlee Property Trust No 6 was established in 2013 to acquire four commercial / industrial properties in the Brisbane Technology Park (BTP). All properties were successfully sold in 2019 – 2020.
BTP is bordered by the South East Freeway, Gateway Motorway, Logan Road and Miles Platting Road, all of which, excluding the latter, are major arterial roads providing easy access to the Brisbane CBD, the Gold and Sunshine Coasts, Brisbane Airport and the Australia TradeCoast precinct.
The buildings were acquired in 2013 and sold in 2019 and 2020 and showed a modest average annual return of 12.9%, which was very acceptable in the circumstances of a very tough and competitive office leasing market with very high incentives required to find new tenants. The exit of this trust and sale of these properies was well timed just before COVID and before the market got even more challenging.
The four buildings were:
10 Brandl Street, Eight Mile Plains: modern commercial / industrial facility providing GLA of 2,990 square metres plus 80 unsecured car parking bays developed on a 6,787 square metre site. The property includes a surplus land component which has the potential to provide a further 1,000sqm GFA. The property is situated at the intersection between Brandl Street and Logan Road in the Brisbane Technology Park. 10 Brandl St was sold in October 2019.
36 Brandl Street, Eight Mile Plains: modern commercial / industrial facility providing GLA of 2,179 square metres plus 53 car parking bays developed on a 3,937 square metre site. 36 Brandl Street was sold in October 2020.
69 Brandl Street, Eight Mile Plains: modern commercial / industrial facility providing GLA of 1,758 square metres plus 17 unsecured car parking bays developed on a 2,612 square metre site. 69 Brandl St was sold in September 2019
7 Hi-Tech Court, Eight Mile Plains: modern commercial / warehousing facility providing GLA of 1,549 square metres plus 60 unsecured car parking bays developed on a 4,212 square metre site. 7 Hi-Tech Court was sold in April 2020.
10 Brandl St 1
10 Brandl St 2
10 Brandl St 3
36 Brandl St 1
36 Brandl St 2
36 Brandl St 3
7 Hi Tech Crt 1
7 Hi Tech Crt 2
69 Brandl St
