KWB sells Lytton warehouse with a leaseback
KWB Group, majority owned by ASX listed Joyce Corporation, which also controls Bedshed, has sold a Lytton industrial investment with a 10 year leaseback.
The retailer is banking $16 million from 97 Trade Street, Lytton.
It paid $8.8m in 2016 then refurbished.
Savills brokered both sales.
97 Trade Street
On 1.08 hectares, with drive around truck access and two crossovers, the Trade Street property contains a 6000 square metre warehouse with two recessed loading docks, a production line and showroom.
It is also connected to gas (story continues below).
There is a 600 sqm office too, with boardroom and modern kitchen.
The area is zoned for 24 hour operation.
KWB, which operates from c25 outlets across New South Wales, Queensland and South Australia, is paying starting annual rent of $825,000; on that basis, the sale reflects a 5.15 per cent yield.
Shaw Harrison was the agent.
It is the first Queensland asset for the buyer, a private investor.
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