Property fund manager Clarence Property has acquired a leased warehouse in Northgate, Brisbane for $8.475 million.
The property at 48 Bell-Are Avenue, was purchased with a four-year lease with options to veterinary distributor Provet and will become a new asset for Clarence's $400 million unlisted Westlawn Property Trust.
The latest acquisition ties in with Clarence's strategy to focus on properties priced between $10 million and $30 million in south-east Queensland and northern NSW.
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