A well-known Tyre and Logistics company has secured a Swanbank facility on a 10 year lease, which industry sources are suggesting is worth approximately $500,000 per annum.

The lease of the property located at 129 Patrick Street to Tytec Logistics Pty Ltd was facilitated by Ben Donnelly and Callum Stenson of Savills Industrial & Business Services.

The older-style 52,000sq m ex-sandblasting facility features approximately 6,000sq m of building improvements including wash bays, spray booths and cranes.

Associate Director of Savills Industrial and Business Services, Ben Donnelly, said Tytec had been in the market for a property for a number of years.

“When the Patrick Street property became available, the tenant jumped at the opportunity and had the lease signed within three days.

“Swanbank is an ideal location for businesses looking to place themselves in this catchment area to take advantage of solid residential construction and development,” Mr Donnelly said.

Swanbank has seen a number of lease and sale transactions over the last 18 months with buyers and tenants looking for value for money.

“As land dries up in the traditional industrial areas of Brisbane, occupiers are finding good value West of Brisbane, where there is a substantial amount of residential construction occurring, particularly throughout the Ripley Valley,” Mr Donnelly said.