Property investor and developer plans to develop purpose built warehouse
Brazil Enterprises Pty Ltd has purchased 1.5850 hectares of vacant industrial land in Larapinta south of Brisbane for $2.4 million plus GST. Regional Queensland property investor and developer has plans to develop a purpose built facility onsite which they will add to their investment portfolio.
Stewart Gamblin, Manager of Industrial at Colliers International who marketed the development site via an auction campaign said it attracted numerous enquiries from investors, developers and owner occupiers and it later sold post auction to Brazil Enterprises.
“This industrial zoned site presented great value at about $250 per square metre on the usable area. Brazil Enterprises took advantage of the current market demand and the prime location and snapped up one of the last remaining general industry lots fronting the Logan Motorway.
“These lots are scarce due to the extensive green areas along the motorway and minimal availability of industrial zoned precincts. This particular land parcel offers great exposure and access to the Western and South East Corridors via the Logan Motorway.”
Mr Gamblin said the property is now available for pre-lease for buildings of up to 7,000sq m subject to council approval. “The site lends itself to a highly functioning logistics facility due to the proposed extensive hardstand areas and ease of truck access.
“Brazil Enterprises are also developing a 31 hectare Greenfield industrial development in the neighbouring Heathwood Industrial Estate with the first stage already underway and currently in construction.”
The site which is located at 67 Logistics Place in the Motorway Business Park was previously owned by Reg Owen. The Larapinta precinct is 19 radial kilometres southwest from the Brisbane CBD and also accommodates tenants such as Woolworths, Toll IPEC, Energex and McPhee Distribution Services.