Lot 15 62 Crockford Street, Northgate
2019 Investment Development Project
Leased and Held
For further information contact
Director – David Fielding
0414 891 462
66.58% Return on Investment
- 1,447m2 Freestanding Office/Warehouse
- Brisbane Airport location….
- LEASED BEFORE COMPLETION
The VISION – Castle Property Group formed a partnership with some sophisticated investors to undertake this superb freestanding speculative development project:
This project consisted of purchasing a vacant industrial land site, constructing a new speculative building and lease or selling it. The building comprised:
– Brand new 1,447m2 office/warehouse
– 2,001m2 secure site
– Modern architectural design
– Approximately 1,266 pallet storage capacity
– 307m2 air conditioned offices over 2 levels
– 1,129m2 column free warehouse
– Minimum 8 metre warehouse clearance
– Massive 8 metre wide roller shutter
– Second roller shutter (3.5 metres wide)
– Awning over roller shutters for all weather loading
– 17 carparks, with 4 undercover
– Landscaped and fenced grounds
THE COMMITMENT – The project was leased before completion to Orbitz Elevators, a national company that won the top honour at the 2019 Telstra Queensland Business of the Year. Their commitment was:
– 5+5 Year Lease
– 6 month Bank Guarantee
– Paying $217,050 plus GST and all Outgoings
THE RESULTS – The project was held by the investment group as a long term play.
– Project development length – 18 months
– Total development costs – Available upon request
– Upon Completion Valuation – $3,575,000
– Return on Investment – 66.58%. Annualised 43.24%
This was a superb outcome and is a great indication of the ability of Castle Property Group to identify development project opportunities within the market, undertake and manage all facets of the project including the land purchase, financing, design, project management and the sales and leasing, to reach a very successful/profitable conclusion in a timely manner.
If you are a sophisticated investor and would like to participate in one of our successful projects, please don’t hesitate to contact us at any time.
All Project figures and results are available upon request.