Investor snaps up prime 18yo Willawong industrial asset for record sale

14 May 2024

An 18-year-old strata unit in the Willawong industrial area was sold for $1,100,000, setting a record for one of the highest rates per square metre in the area. This sale highlights the significant demand for industrial units in Brisbane’s southern corridor.

Transacted by Corey Allerton, the property at 1/87 Gardens Drive, Willawong, has been sold to a private investor who is now offering the warehouse for lease.

The property transacted for a per-square-metre rate of $3,448 setting a new record for this size range in the area.

Colliers Queensland Industrial Executive Corey Allerton indicated that the site had attracted substantial market attention.

“With over 10,000 online views, 200 enquiries and 20 offers, it is safe to say, this unit was in huge demand,” Corey Allerton said.

“The southern Brisbane corridor is currently witnessing a surge in demand for industrial units of this size. Despite the high volume of enquiries, there remains a significant amount of capital awaiting investment. This sale represents a remarkable outcome for all parties involved.”

Situated in Willawong’s industrial estate, 1/87 Gardens Drive is a part of a unique four-unit corner complex. Constructed 18 years ago, the estate boasts premium tilt-panel buildings. The property features a 319sqm warehouse, inclusive of a 30sqm office space.

The complex’s corner site location offers drive-through accessibility, facilitating easy truck access and maneuverability. This, coupled with the limited number of units, sets it apart from newer constructions. As a result, this nearly two-decade-old unit fetched a price comparable to a brand new unit in the vicinity.

This transaction emplies the strong vitality of Brisbane’s industrial and logistics sector, which is evident in the consistent growth in rental rates and property values.

Located just 20 minutes from Brisbane’s CBD, the property’s prime positioning within the estate ensures efficient connectivity to the SEQ market via a network of sub-arterial and arterial roads. This makes it a highly sought-after location.