Timeless Property has acquired two premium industrial lots within the Redbank Motorway Estate in Southwest Brisbane.
CBRE’s Jack Hardy and Matthew Frazer-Ryan managed the sale of Lots 36 & 37 Montgomery Street via an Expressions of Interest campaign.
The two lots with a combined area of 33,584sqm were benched and serviced, with titles ready for purchase, making it an ideal opportunity for developers to establish a presence in the area.
Mr Frazer-Ryan, CBRE’s Queensland Industrial & Logistics Director, noted there was significant market interest in the assets.
“The lots generated strong interest during the campaign due to the estate’s historically high occupancy rate, minimal comparable opportunities, and recent notable lease deals to L’Oreal, Lawrence & Hansen & Coles,” he said.
Situated adjacent to the Ipswich Motorway, the estate benefits from significant expenditure on infrastructure upgrades to ensure better connections, decreased travel time and allow for A-double and B-double vehicle access.
Mr Hardy added, “This deal reinforces the strength of the industrial land market, particularly for fully serviced and ready to develop blocks. This acquisition provides Timeless Property a strong development pipeline for the future.”
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