Showing continued demand for industrial land assets in Brisbane’s west, a rare 1ha block in an established logistics and manufacturing precinct has transacted for $4 million to  a local owner occupier. 

Transacted by Colliers Industrial experts Levi Maxwell and Charlie Hopper, the 9,867 sqm site at 367  Progress Road, Wacol was sold on behalf of a valued private client who purchased the site only 18  months ago. 

Colliers Queensland Industrial National Director Levi Maxwell said there was strong interest in the  site with multiple groups presenting offers, ultimatly being secured by a local owner occupier.  

“The industrial occupier market in the western corridor is particularly tight with a lack of supply and  continued demand driving record breaking sales,” Levi Maxwell said. 

“This asset was purchased in November 2022 for $3,200,000 and sold 18 months later for a 25 per cent increase. 

“We are seeing continued interest from interstate investors and expanding local occupiers, with South East Queensland land values souring due to diminishing supply.  

“The unprecedented levels of infrastructure development underway in South East Queensland due to population growth as well as the upcoming Brisbane 2032 Brisbane Olympic and Paralympic  Games is having a considerable flow on effect to the industrial sector,” Levi Maxwell added. 

Colliers Queensland Industrial Senior Executive Charlie Hopper said the Western Corridor area had  experienced significant growth in recent years, driving continued demand for land in core locations. 

“The site was sold with short term passing income however the purchaser plans to occupy the site  themselves,” Charlie Hopper said.

“Located just minutes away from the Ipswich Motorway, this site was the perfect opportunity to  secure a holding yard with long term development upside. 

This deal adds to the many transactions already finalised by the Colliers Queensland industrial team in the past 18 months in the Western Corridor including 500 Hume Drive Bundamba for $6.3 million, the $17 million sale of 24 industrial Avenue Wacol, and another four deals totalling $18.75million. 

Related Readings 

Colliers transact $42 million across 16.5ha of industrial sales in Brisbane’s western corridor

Final lots in Frasers Property Industrial’s Vantage Yatala Estate for sale Knight Frank and Colliers

Brisbane Industrial & Logistics: Strong Market Conditions - Colliers