A new industrial property developed by Bayerstevens located in the thriving Citiswich Industrial Park sold through Ray White Commercial agent Harry Egan for $6.35 million.

Located at 11 Hawkins Drive, Bundamba, the property, developed by Yirgacheffe Pty Ltd, was acquired by KSB Australia, a transaction facilitated by Harry Egan of Ray White Commercial.

Yirgacheffe Pty Ltd, managed by Bayerstevens, secured the 3,828 sqm site in November 2022.

Situated in a zone designated for “medium impact business and industry,” the property’s strategic location is underscored by its proximity to major landmarks such as Costco, KFC & Banjo’s, and The Reject Shop Distribution Centre.

In November 2022, Bayerstevens obtained the necessary development approvals for the project, efficiently navigating the process within three months. James Bayer, the Development Manager at Bayerstevens, oversaw the project's successful delivery, ensuring it met all code-assessable criteria.

In May 2023, Clarkes Design and Construct commenced construction under a lump sum design and construct contract. The project featured two warehouses with a combined gross building area of 2,248 sqm and an additional 199 sqm office space. The warehouses, boasting a truss height of 9.7 metres full articulated truck movement, catered to the modern requirements of industrial tenants.

The construction reached completion in January 2024, with a seamless handover to the owner. The impressive property includes 24 car parking bays, enhancing its appeal to potential tenants and buyers alike.

Mr Egan said the sales campaign generated substantial interest, with 43 individual enquiries reflecting the high demand for quality industrial assets in the area. The campaign was strategically marketed for both sale and lease, ensuring maximum exposure.

KSB Australia, a neighbouring occupier, recognised the property’s value and seized the opportunity to acquire the asset, further consolidating its presence in Bundamba.

Reflecting on the project’s success, James Bayer of Bayerstevens noted, “The timely delivery and strategic location of 11 Hawkins Drive made it an attractive investment. We are pleased with the outcome and look forward to delivering the balance of our development pipeline for the 24/25 Financial Year.

Mr Egan added, “The level of interest in this property highlights the strength of the industrial market in Bundamba. It was a pleasure to work on this transaction, and I’m thrilled with the result for both the vendor and the buyer.”

“11 Hawkins Drive, Bundamba, stands as a prime example of a well-executed industrial development that meets the needs of today’s market. Its successful sale underscores the ongoing demand for quality assets in strategic locations, with Citiswich Industrial Park proving to be a magnet for investors and tenants alike.”