The Sherwood Property Trust Investment was established to acquire and refurbish an industrial property located at Sherwood Road, Sherwood, which was held under option by the Project Manager (River Drive Group). After due diligence investigations were completed, the River Drive Group nominated the Trust which exercised the option and settled the site for $5m on 31 December 2007.

The Property is considered to be well located for its current and intended use being situated at 450 Sherwood Road in Sherwood, approximately 8 kilometres from the Brisbane CBD and within 1km of the  Brisbane markets.  The site is contained within one of Brisbane’s traditional industrial areas (Sherwood/Rocklea) and is currently zoned “General Industry”. In accordance with the strategic planning outcomes of the Brisbane City Plan 2000, this area is to be retained to consolidate a range of industrial activities important to South East Queensland.

The Property has extensive frontage to Sherwood Road, with surrounding developments comprising mainly other industrial developments (such as Komatsu Industrial located directly opposite), as well as older style detached housing. The property is one individual allotment approximately 2.37 ha in area and is an irregular shaped corner block bordered by Sherwood Road to the north, which falls away from road level to the southern boundary bordered by Oxley Creek.   The Property has been improved with 3 individual buildings comprising warehouse and office components, and has approximately 10,700m² of net lettable area (excluding hardstand). A modern hardstand carparking area runs down the western side of the Property and accommodates approximately 300 vehicles.  The Property was originally utilised by Assa Abbloy for warehousing, tool rooms, assembly floors, product development and general administration.

The current investment strategy of the Trust is to break the site up into multiple tenancies (each with their own warehouse, office, hardstand and entry), and value add by re-positioning the properties and securing new tenants. The Trust will complete any minor refurbishment works associated with securing the new tenancies. New industrial tenants secured to date range from professional  civil contractors and project managers to the energy and resources sector, to a precision machining services company specialising in products to the telecommunications, avionics, tool making, automotive, food processing and medical instrumentation industries.