Off-market transaction highlights strong investor confidence in long-term growth of the industrial precinct
An industrial landholding at 175 Dutton Road, Pinkenba has sold for $20.2 million.
The 28,823sqm site was acquired by a private local investor with existing holdings in the area, drawn by the site’s long-term growth outlook for Pinkenba precinct.
The transaction was brokered by JLL’s Gibson Leembruggen, on behalf of US-based developer, Greystar.
Mr Leembruggen said the deal demonstrated the continued appetite for quality industrial sites in strategic locations near major infrastructure hubs.
“This sale reinforces the strength of investor sentiment in the Pinkenba industrial corridor,” he said.
“The buyer recognised the site’s long-term value given its proximity to the Brisbane Airport, Port of Brisbane and the Brisbane International Cruise Terminal. These key drivers have underpinned the significant demand and capital growth in this precinct over the past two to three years.
“We originally introduced the sitting tenant, to Greystar and later introduced the private buyer who has now secured the site. The recent lease renewal provided income stability while allowing future flexibility to develop the site.”
Mr Leembruggen said the combination of secure holding income and the strategic location made the site particularly attractive to long-term investors.
“Pinkenba continues to see strong hardstand demand, supporting the rationale for longer hold periods with development upside in this corridor,” he said.
“Opportunities of this scale and calibre, so close to major transport infrastructure, remain limited, which is driving continued capital inflow into the area.”
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