217 Farrelly Rd_ New Acquisition_ OzProp FR Class Units
- Property type: Industrial
- Offer type: Fully subscribed , Industrial
- City: Paget (Mackay)
- Street: 217 Farrellys Rd
- Property size: 7,339 m²
- Year: 2022
- Lot size: 21,483 m²
- Investment Status: Fully Subscribed
- Acquisition Date: December 2025
- Initial Investment : $19.5m
- IRR
- Investment Horizon
- Current Valuation : $19.5m
Details
Welcome to 217 Farrelly Rd, Mackay, a near new secure industrial facility in the heart of the thriving Paget industrial precinct.
OzProp is pleased to announce the successful settlement of the industrial property at 217 Farrellys Road, Paget, Mackay, acquired through the OzProp Investment Trust – OzProp FR Class Units.
The property comprises a modern, purpose-built industrial facility completed in 2022, making the building approximately three and a half years old. The quality and age of the improvements provide investors with access to meaningful depreciation allowances, supporting a tax-effective income stream over the medium term.
The asset totals approximately 7,340 square metres of net lettable area and was acquired at a rate of $2,656 per square metre of NLA. This compares favourably with recent transactions for modern industrial assets across Queensland, where pricing for comparable facilities has generally ranged between $2,800 and $3,700 per square metre, depending on location, tenant profile and lease terms.
The property is 100% leased to Fenner Dunlop Australia Pty Ltd, a leading multinational industrial and mining services provider (a wholly-owned subsidiary of Michelin). The lease delivers a secure long-term income profile with annual rental indexation, providing stable cash flow and income certainty for investors. The weighted average lease expiry is approximately 6.5 years.
