Clarence Property have purchased from Lansky Constructions a logistics facility in the Metroplex estate in Brisbane’s southwest for more than $14 million negotiated by Mark Clifford of Knight Frank.

The 13,773sq m property at 18 Macgregor Place in Richlands, within the Metroplex estate, will soon be home to a 7,683sq m logistics facility, with 7,276sq m of warehouse and 405sq m of office, with construction set to start immediately and completion scheduled for the first quarter of next year.

It was purchased by Clarence Property from Lansky Constructions for $14.44 million in a deal negotiated by Mark Clifford of Knight Frank.

The deal saw a yield of 5.9% struck for the property, with a rent guarantee in place.

Deal at a Glance: 

• A 1.3ha property at 18 Macgregor Place in Richlands has been purchased by Clarence Property from Lansky Constructions for $14.44 million
• The block will soon be home to a 7,683sqm logistics facility, with construction set to start straight away, and completion scheduled for the first quarter of 2022
• The sale of the property was completed on a fund-through structure, with the vendor delivering the finished warehouse and office product
• The sale was negotiated by Mark Clifford of Knight Frank Brisbane, Australia
• Source - Knight Frank 

Mr Clifford and colleague Ned Jefferies are now spearheading a leasing campaign for the property.

Mr Clifford said the sale of the property was completed on a fund-through structure, which suited the vendor, who will also be delivering the finished warehouse and office product.

“The 1.3ha Richlands block is positioned at the entrance to the highly sought-after Metroplex estate, and was one of only a handful of vacant land sites remaining in the entire precinct,” he said.

“The acquisition provides Clarence Property with a strategic industrial foothold in the western corridor of Brisbane, in a high demand area set to see massive future demand and growth from industrial occupiers.”

Mr Clifford said he was confident in securing a tenant prior to the project’s completion.

“There is strong demand from industrial occupiers in Richlands, and we are already fielding interest from a number of parties,” he said.

“This quality office and warehouse facility is in one of Brisbane’s most sought after industrial and logistics locations.

“It provides direct access to major arterial roads including the Ipswich Motorway, Logan Motorway and Centenary Highway, allowing for efficient distribution of goods across South East Queensland.

“The functional design of the facility will ensure an efficient and flexible workspace, which will suit a variety of users.

“The facility can be offered as two separate tenancies of around 3500 square metres, or one whole tenancy.”

Clarence Property Managing Director Peter Fahey added: “This acquisition adds another significant industrial property to our growing portfolio here at Clarence Property, in a huge growth corridor providing not only value to our investors but with enormous potential for future tenants.

“We look forward to working with Mark and the Knight Frank team to secure a long term tenant for this state of the art logistics facility in such a high demand area.”

To request leasing information please contact the leasing agents Mark Clifford or his colleague Ned Jefferies via the below contact details. 

To request a sales analysis please email the selling agent Mark Clifford of Knight Frank via the below contact details.