Showing continued demand for industrial land and hardstand, Colliers Queensland has transacted multiple deals in Brisbane’s western corridor, with $42 million in deals equating to 16.5 ha in the past 6 months.

The latest transactions in the west comprise the sale of a 2.2 ha lot at 500 Hume Drive Bundamba for $6.3 million and a 4.06 ha site at 64 River Road Redbank for $2.6 million.

These deals transacted by Colliers Industrial experts Levi Maxwell and Charlie Hopper add to the many deals already finalised by the Colliers Queensland industrial team in the past 6 months including the $17 million sale of 24 industrial Avenue Wacol, $2.75 million sale of 103 Montgomery Street Redbank and another three deals in Bundamba and Acacia Ridge for $13.4 million.

Colliers Queensland Industrial Director Levi Maxwell said the Western Corridor played a vital role in the South East Queensland Regional Plan, with the area experiencing significant growth in recent years.

“Industrial estates and business parks are in high demand in the western corridor as they cater to diverse industries and benefit from close proximity to major infrastructure and connectivity to ports and airports,” Levi Maxwell said.

“Notable locations like Wacol, Bundamba and Redbank have gone from strength to strength to cater to manufacturing, warehousing, and logistics businesses.

“The industrial occupier market in the western corridor is particularly tight, with lack of supply and continued demand driving record breaking sales and leasing transactions, with no signs of slowing down.

“The western corridor continues to attract interest due to competitive rents, offering a cost advantage with an average net face rent of around $140/sqm, which is 20 to 25 per cent lower than areas closer to the port.

“Capital values similarly are around 30 per cent below the areas close to the port, offering a great incentive for businesses to purchase in this area,” Levi Maxwell added.

Colliers Queensland Industrial Executive Charlie Hopper said unprecedented levels of infrastructure development underway in South East Queensland due to significant population growth as well as the upcoming Brisbane 2032 Olympic Games was having a considerable flow on effect to the industrial sector.

“We are seeing large numbers of new interstate investor/developer entrants to the market as South East Queensland land values are much lower than core New South Wales and Victoria industrial locations,” Charlie Hopper said.

“These latest sales in the western corridor of Brisbane in Bundamba were purchased by expanding local owner occupiers securing a foothold for future operations. 103 Montgomery Street, Redbank was picked up by an experienced developer who seeks to take advantage of the prime positioning within Goodmans Redbank Motorway Estate.”

South East Queensland is further going to benefit from the continued momentum and build-up towards the Brisbane 2032 Olympic and Paralympic Games with Federal and State Government investment in new infrastructure such as stadiums and public transport.

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L to R: Levi Maxwell Colliers and Charlie Hopper Colliers