Triple Eight Race Engineering hits top gear with Banyo lease

BANYO continues to be in the driving seat north of Brisbane when it comes to commercial and industrial assets as Triple Eight Race Engineering/Red Bull Ampol Racing hit top gear by taking out a five-year lease deal with a five-year option at 73 Depot Street.

The 2,390sq m* General Industry B zoned sited featured a 1,300sq m* tilt panel warehouse and 200sq m* corporate office space over two levels with access via two container height roller doors and open-plan, private offices with excellent natural lighting.

The property was marketed and leased for $180,000 per annum plus outgoings plus GST by Ray White Commercial QLD Brokerage Services Division trio Andrew Doyle, Aaron Aleckson, and Paul Anderson.

“The lease to a quality tenant such as Triple Eight Race Engineering represents just-reward for our valued client after following advice to purchase the vacant site, renovate, and reintroduce to the leasing market as a fresh opportunity,” Mr Doyle said.

“This lease further illustrates the strength of the leasing market in prime grade stock after a string of recent transactions conducted by our team on Brisbane’s north side” Mr Aleckson said.

“Although the market is flooded with enquiry to purchase sites, the lack of sale opportunities continues to drive the industrial leasing market through the northern corridor,” Mr Anderson said.

“Triple Eight Race Engineering are entering 2021 with the largest motorsport program in the company’s 17-year history, which is an exciting prospect,” said a Triple Eight Race Engineering spokesperson.

“An expanded racing program ultimately means expanded operations, and we were bursting at the seams at our current facility in Banyo.

“The need to lease an additional warehouse within close proximity to our primary base was growing louder, and through Ray White, we were able to acquire a facility which will now house our manufacturing and fabrication departments.”

*Approximately.