Impeccable warehouse conversion brewing plenty of interest

Coffee lovers rejoice! An impressive, architecturally designed warehouse in Brisbane’s thriving Newstead area leased to iconic coffee brand Industry Beans will go under the hammer this month.

Burgess Rawson Melbourne Director Jamie Perlinger said the warehouse conversion is impeccable.

“No expense has been spared on the fit-out,” said Mr Perlinger. “This is not just a café. Industry Beans has incorporated a large, restaurant-style café with mezzanine level; coffee bar; function spaces; and coffee education facilities including a coffee roastery and greenhouse, all under one roof. It’s stunning.”

Industry Beans is an Australian coffee wholesaler and retailer boasting a network of six venues in Melbourne, Sydney and Brisbane with more in the pipeline.

“If you enjoy coffee, then you know Industry Beans,” said Mr Perlinger. “Since starting more than a decade ago, they have developed an international reputation for innovation and an ardent following.”

The investment at 18 Proe Street, Newstead is a 603 sqm landholding with significant development upside (STCA) for the future.

The property returns $210,163 per annum plus GST and early indications suggest it is expected to sell over $3.8 million when it is put on the block at Burgess Rawson’s Investment Portfolio Auction on Wednesday, March 31.

Located just 1.2 kilometres from Brisbane’s CBD, the property is strategically located in the heart of Newstead, between Gasworks and James Street precincts.

“This is an affluent growth location and a rapidly emerging residential and commercial precinct, known for retail, fashion and lifestyle,” said Mr Perlinger. “Not only is Newstead considered to be one of Brisbane’s fasting growth regions, 55% of its working population is under 35 years of age. An ideal ‘cold brew’ demographic!”

The attractive lease terms include a long term 10-year lease to 2028 plus options to 2033 and 3.5% annual rent increases. The tenant pays all usual outgoings excluding land tax.

Burgess Rawson’s next Investment Portfolio Auction will be held at Crown Casino from 10.30am AEDT on Wednesday, March 31.