Lack of new industrial facilities in the Logan industrial precinct is driving local businesses to the Steele Park Industrial Estate in Logan Village, with nine lots sold spanning 18,229sqm selling for over $3m collectively. Average parcel size sold is about 1,500sqm.
“At $180/sqm, this could be cheapest serviced industrial land in South East Queensland,” said Daniel Coburn of Colliers International who is marketing the estate with his colleague Pat Cavanagh.
“All nine businesses that have purchased land here over the last six months are from the local area and cater for services and industries such as self-storage, engineering, trailer manufacturer and contractor holding yards.
“They were attracted to this estate in particular as it is affordable land in a rapidly growing market. Logan Village is surrounded by major residential developments including Yarrabilba, so this location is handy for contractors and businesses who either work or live within these developments,” Mr Coburn said.
Owned by F & K Pty Ltd, a local civil and construction company, the estate is located at the end of Centenary Place on Industrial Avenue, and is an extension of the existing Logan Village industrial precinct.
Mr Cavanagh said the estate is subdivided into 26 rectangular shaped lots with an average size of 1,500sqm. Larger configurations can be catered for in the estate. . “There are only 17 lots remaining, with prices starting from just $270,000.
“Small business activity in the Brisbane-Gold Coast corridor has risen over the last year which has been driven by an increase in residential construction activity, strong population growth rates and infrastructure projects across the region.
“Given recent strong sale results and demand coupled with a lack of new projects, there is currently opportunity for small freehold industrial land developments across the greater Brisbane-Gold Coast corridor, so it is great to see F & K meeting this demand” said Mr Cavanagh.