QUEENSLAND – Ascot Capital has acquired a three-asset industrial portfolio from Wagners Holding Company Ltd for $43 million, highlighting renewed demand for long-leased assets offering secure income and exposure to South East Queensland’s growth corridor.
The portfolio, transacted on a 6.4 per cent yield, comprises:
- 580 Alderley Street, Harristown with a land size of 45,810 sqm*
- 115 Potassium Street, Narangba with a land sizer of 6,344 sqm*
- 97–101 Quanda Road, Coolum Beach with a land size of 6,846 sqm*
With a total land area of 59,000 sqm* the portfolio has a weighted average lease expiry of around 15 years.
Fully leased to ASX-listed Wagners, the assets provide exposure to the construction materials sector, with all three properties purpose-built for industrial operations and underpinned by triple net lease structures, ensuring outgoings are fully recoverable and income remains resilient.
Sold through Morgan Ruig and Jonathan O’Brien of Cushman & Wakefield and Anthony White of Burcott Road Property Advisory, the transaction highlights a continued shift among private capital towards scale and income certainty, particularly as investors look to deploy capital into assets with long-dated leases and strong tenant covenants.
Morgan Ruig of Cushman & Wakefield said the result reflects the depth of demand for portfolios offering both defensive income and sector-specific exposure.
“Investors are actively seeking opportunities that combine long WALE, strong covenants and exposure to sectors benefiting from structural tailwinds.
“In this case, the construction materials sector is directly leveraged to population growth, infrastructure investment and the ongoing housing pipeline across South East Queensland, which continues to drive strong competition for assets of this nature” he said.
The portfolio’s geographic spread across Harristown, Coolum Beach and Narangba provides exposure to three distinct yet complementary industrial markets, enhancing operational flexibility and broadening demand drivers.
Anthony White of Burcott Road Property Advisory said the diversity of locations and the specialised nature of the improvements were key to the campaign’s success.
“This portfolio offers a rare combination of scale, income security and strategic positioning across some of Queensland’s most tightly held industrial corridors.
“Each asset plays a critical role within its respective market, from Toowoomba’s established industrial base through to the Sunshine Coast and Brisbane’s northern growth corridor, providing both geographic diversification and long-term relevance” he said.
The assets themselves are characterised by high-spec industrial improvements, including concrete batching infrastructure, warehousing, workshops and expansive hardstand areas, with significant capital investment required to replicate such facilities.
Jonathan O’Brien of Cushman & Wakefield said with limited availability of suitably zoned land and increasing barriers to entry for specialised industrial uses, assets of this nature are becoming increasingly difficult to source, further supporting investor demand.
“This sale reinforces the strength of Queensland’s industrial market, particularly across South East Queensland, where population growth, infrastructure investment and housing demand continue to underpin long-term fundamentals and drive capital into the sector”.
