A small lot industrial subdivision in Brisbane’s south is completely sold out following the sale of the final block for $5.8 million.
The development, HUB Heathwood at 731 Johnson Road in Heathwood, consisted of 24 lots totalling more than 17 hectares.
The lots were sold for a combined total of just under $92 million in deals negotiated by Mark Clifford and Lachlan Hateley of Knight Frank on behalf of the developer, Clarence Property.
The latest – and final – sale was an 8,820sq m block at 12 Hub Crescent, which sits at the entrance to the HUB Heathwood Estate. The block was purchased by a local owner occupier who is currently located close by.
The buyer will be lodging plans soon with the intent on occupying the site as a transport depot.
Located 19 kilometres south of the Brisbane CBD, HUB Heathwood is located just off the Logan Motorway, and situated perfectly to service Brisbane’s ongoing demand for industrial facilities.
The estate is positioned immediately to the south of the Heathwood Logistics Estate, home to household brands including Coles, Asahi and CUB, amongst many others.
Clarence Property Head of Capital Transactions Ben Somerville said: “Our team’s dedication and collaboration have created this first-class industrial estate, it has been a pleasure to watch our vision come to life. With over 100,000 square metres of high-quality office and warehouse space now under construction, HUB Heathwood has contributed to the growth and development of the industrial sector in this region.
“Congratulations to our Clarence Property team and project marketing team, Knight Frank’s Mark Clifford and Blue Commercial’s John Slater for their support of this project and look forward to seeing this exciting industrial precinct come to life.”
Mr Clifford said HUB Heathwood had attracted a range of owner occupiers and investors over the past 18 months, with multiple projects now under construction including strata units and freestanding facilities.
“When we took it to the market it was the largest small lot industrial subdivision in Brisbane’s southern industrial precinct,” he said.
“We saw prices increase dramatically given the demand and lack of small block options, with rates growing from the mid-$500 per square metre range at launch to now mid-$700 per square metre for some of the most recent sales at HUB Heathwood.
“The latest lot to sell had a range of development options, which appealed to buyers, along with its high-exposure location.”
Mr Hateley said HUB Heathwood was now one of the most sought-after locations, with more than $100 million in construction projects underway in the sold-out development.
“The estate is a hub of activity now as projects take shape,” he said.
“Situated just off the Logan Motorway, HUB Heathwood offers great connectivity for logistics businesses, with easy access to the major arterial road networks including the Gateway, Logan, M1, Ipswich Motorway, and Mt Lindesay Highway.”
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