Cache Logistics Trust snaps up sixth warehouse in Australia for $9.6m

It will be fully leased to a trucking company.

Cache Logistics Trust has entered into a sale and purchase agreement to acquire a distribution warehouse facility located at 223 Viking Drive, Wacol, Queensland, Australia for a purchase consideration of $9.6m (A$9.575m). The total acquisition cost is approximately A$10.5 million ($10.5m).

The is a single-storey industrial warehouse facility with ancillary office space and a standalone training building on freehold land located approximately 18 kilometres southwest of the Brisbane Central Business District. 

It is within the established industrial precinct of Wacol with close proximity to major motorways. The property has a land area of approximately 22,760 square metres and the gross lettable area of about 6,276 square metres. 

After the acquisition, the property will be fully leased to Western Star Trucks Australia until August 2023, with an annual rental escalation of 4.0% or the Consumer Price Index, whichever is higher.