An industrial site in one of Brisbane’s most sought-after industrial precincts has sold for $17.2m off-market, highlighting the high demand for industrial real estate amidst an all-time scarcity of land.
Negotiated by Colliers Industrial Directors, Nick Evans and David Brisk, the sale comprised of 74,400m2 of zoned industrial land in a prominent industrial district benefiting from both north and south motorways.
The sale of 243-279 Jacobs Well Road Stapylton was an amalgamation of two separate owners who had longer term intentions to sell but were approached with unsolicited off-market offers which were acceptable.
“This sale represents the skyrocketing value of Brisbane’s industrial land, with these sites doubling and tripling in value for their respective owners over four years,” said Nick Evans.
Both owners had intended to hold their properties for at least another five years to capitalise on future infrastructure upgrades, but we were able to achieve their strike prices to sell.
“There’s a raft of infrastructure projects in the pipeline, with the future stage of the Coomera
Connector set to activate this region in the near future,” said Mr Brisk.
“Visy have also chosen their landholding across the road from these sites as the home of their
$500m glass recycling/manufacturing plant which is relocating from South Brisbane as part of
the 2032 Brisbane Olympics,” said Mr Evans.
Existing and new occupiers will have sufficient and guaranteed logistics infrastructure with a low- cost base which will mean these businesses can expand their Brisbane distribution warehouse footprints.