A property leased to Australian self-storage company National Storage was sold by APN Fund Management Ltd. to a Gold Coast investor for $3.85 million. APN acquired the Tweed Heads South industrial property in 2006 for $3.3 million.
National still has 12 years remaining on its 15-year lease at a rate of approximately $349,000 a year. The property has 308 storage units, a manager's residence, an administration and office area, full perimeter fencing, and three entry points.
Colliers International Gold Coast industrial director Pat Cavanagh brokered the sale of the property.
Source:Goldcoast.com, Tweed Storage Depot Tops Sales for Year