Multiple private developers have recently snapped up four industrial land parcels in Queensland’s Moreton Bay region.
CBRE’s Hugh Adnam and Dillon Murphy negotiated the sales which total over 27,648sqm on behalf of Van Riet Development and AVID Property Group at Brendale New Base Business Park to a total value of $7,623,200 +GST.
All the properties are zoned general industry, with two of the sites benefitting from a strategic positioning on South Pine Road and Leitchs Road, utilising the huge traffic flow and exposure within the heart of Brendale’s industrial precinct. They are also located in close proximity to well-known brands including Super Retail Group, Aldi and Target.
Address Lot 10/133 South Pine Road, Brendale Price $2,380,000 +GST Size 6,081sqm Buyer Kennards Hire Seller Van Riet
Address Lot 100/205 Leitchs Road, Brendale Price $2,150,000 +GST Size 5,532sqm Buyer Private Developer Seller Van Riet
Address Lot 87 Cutler Court, Brendale Price $2,250,000 +GST Size 13,400sqm Buyer Private Developer Seller AVID Property Group
Address Lot 7 Bailey Court, Brendale Price $843,200 +GST Size 2,635sqm Buyer Private Developer Seller AVID Property Group
Mr Murphy commented on the deal; “The rate achieved for the Van Riet developments are the highest price per square metre in Brendale since the global financial crisis.”
Mr Adnam said the properties offered an outstanding opportunity to acquire a footprint in a prominent regional industrial location.
“These properties offer a plethora of attractive benefits, including prime location, ample parking, outstanding transport amenity, easy access to arterial roads and state of the art fibre optic infrastructure,” Mr Adnam explained.
The purchasers plan to construct a mix of developments being A-spec buildings and multiple showroom storage facilities.
The properties also benefit from B-double access and manoeuvring onsite – all just 25 minutes from the Brisbane CBD.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.