Why we chose it: Brix took the opportunity to work with joint venture partner, Costa Asset Management, to purchase a well-located industrial site with extensive street frontages and within close proximity of public transport.

‍Our process: Following extensive negotiations with the vendor, a favourable triple net leaseback was agreed on for a period of three years with a well-regarded tenant. This provided holding income while future development was finalised for the site.

‍The outcome: Brix successfully renegotiated a 10-year lease extension with the current tenant, identifying this as the highest and best use for the site. This strategic move enhanced the site's appeal as a prime investment opportunity, and resulted in the sale to an investor in February 2025.