An industrial development by BRIX comprising 12 office warehouses in Brisbane’s south has sold out, prior to the titles of the strata units being issued.

The boutique business precinct at 28-32 Loam Street in Acacia Ridge, called Botanica Park, was developed by Brix Property Group.

The units, which each have exclusive-use parking spaces, are situated in a fully fenced, secure complex with 24-hour CCTV operation, situated 12 radial kilometres south of the Brisbane CBD.

All 12 warehouses, ranging in size from 133sq m to 436sq m, have sold for a total of $12.8 million in deals negotiated by Knight Frank agents Lachlan Hateley and David Knox in conjunction with Sam Stewart and Jacob Stower of JLL.

Individual sales ranged from $530,000 up to $1.665 million, with 50% of buyers being owner occupiers and 50% investors. 

Since the sales took place there has been strong leasing take up from tenants for the investment units in Botanica Park, with new 3 and 5-year leases secured within 4 to 6 weeks of settlement. Record rents for industrial property on Brisbane’s southside have also been achieved of between $242 and $292/sq m net. The leasing deals were negotiated by Knight Frank and JLL.

Occupiers in Botanica Park now include oil and natural gas company Jasper Methods – servicing the oilfield sector, gift shop Fox & Fallow, cleaning company Infinity Integrated Services, engineering company Paradigm and automated lubrication provider Brolube.

Explaining what attracted BroLube Australia to Botanica Park for its expansion to Brisbane to set up a Queensland branch, BroLube Technician Adriaan Swanepoel said: "As a full-service automated lubrication solution provider, we needed premises that suited our specific business needs and that put us in the heart of the industry. Botanica Park provides a great location with well-designed access, warehouse and office space that will allow us room to grow."

Mr Hateley said occupier demand for the industrial units in Botanica Park had been very strong, with plenty of ongoing interest from both buyers and tenants.

“We have continued to experience strong purchaser demand since the complex reached 100% sold,” he said. “A-grade unit stock is in high demand amongst buyers in Brisbane but there is no current availability of product.

“We are also seeing occupier demand from tenants seeking quality space in this core precinct.

“The coveted Acacia Ridge industrial region is one of Brisbane’s blue-chip industrial precincts, offering access to major transport routes leading to all parts of Brisbane including the Port of Brisbane and the Brisbane Airport, as well as being close to the Acacia Ridge Rail Marshalling yards.”

Knight Frank’s David Knox said quality industrial property continued to be sought after in Brisbane’s industrial market.

“We continue to see solid tenant demand and take up, with prime stock seeing the highest demand,” he said.

“Botanica Park has the dual attractions of being a quality development in a great location in Brisbane’s southern industrial corridor.”

Each unit has a 7.5 metre minimum internal warehouse height allowing for four vertical racks, 5 metre high roller door access and modern kitchenette and bathroom facilities with premium specifications and inclusions.

The complex has three driveways, which makes for excellent vehicle or truck flow and manoeuvrability onsite.

Botanica Park is the first of four active projects BRIX now has in South-East Queensland. ‘Gateway 38’ Industrial Business Park in Stapylton, comprising 14 industrial lots, is almost sold out and due for completion in 2025. A further two further industrial projects are in early planning phases in Burpengary and Bundamba.   

BRIX’s Victorian projects are in for a big 2024 with ‘Compass Business Park’ in Seaford and ‘Cheltenham Quarter’ in Cheltenham well into construction and due to complete in the next 12 months. A new acquisition in Melbourne’s Premium Bayside suburb of Mordialloc will kick off construction later this year comprising 25 premium industrial units. 

BRIX has a big focus for acquisition in South-East QLD and is actively pursuing more acquisition and development opportunities to bolster the existing pipeline in the region.

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