The Spotless Laundry was purchased on behalf of a private entity on a ‘fund through’ basis from a developer who was anxious to proceed with construction but needed the funding underwritten. The laundry was purpose built for Spotless and was secured by a 20-year lease to the ASX 200 company.
The land was subdivided into 2 parcels at the developer’s expense with a modem office warehouse complex constructed on the Ipswich Road frontage leased to Multispares Truck Parts and Doherty Couplers.
Spotless was sold into a buoyant sellers’ market.
D&R Dunworth acted as a commercial buying agent with a continuing advisory role, and as a project manager.
dunworth.com.au
dunworth.com.au
