After almost 10 years in the planning, a large highly sought after industrial parcel of the land on the Logan Motorway has been sold.
In one of the biggest industrial land transactions for the year, one of the final parcels of land on the Logan Motorway has been sold by JLL’s Industrial Director, Gary Hyland.
“The 24.6ha area of land at Heathwood has been sold to the Sydney-based LOGOS Property which is now looking to develop the site for large scale pre-leases in excess of 10,000sqm,” said JLL’s Gary Hyland. LOGOS plan to develop the entire land holding into a premium logistics estate with an end value in excess of the $200 million, which will be the largest single holding on the Logan Motorway."
The two parcels purchased by LOGOS have direct exposure to the Logan Motorway, with direct access to the Motorway provided by the Staplyton Road interchange. The site is strategically located at the centre of the Logan Motorway corridor with Coles and Woolworths both having distribution centres that neighbour the estate.
Mr Hyland said the sale was exciting for the sector, as the estate can accommodate facilities in excess of 50,000m2, with direct Motorway access. “The Logan Motorway corridor is South Estate Queensland’s major warehousing and logistics hub providing occupiers with unrivalled access to all major arterials that service the immediate South East Queensland market as well as interstate markets,” he said.
The estate will be branded Heathwood Logistics Park and with earthworks now completed the estate is available for immediate development.
“Having a buyer who is now firmly committed to a quality large scale development means that demand can be met – already we have strong interest from a number of groups looking to capitalise on the site’s direct Motorway access and exposure,” said Mr Hyland.