Bunnings Pays Watpac $20.6 Million For Newstead Site, Brisbane

HARDWARE giant Bunnings has paid $20.6 million for two hectares of land in the Brisbane suburb of Newstead.

The Wesfarmers owned subsidiary intends to build a multi-level warehouse on the 9400 square metre site. The proposed 14,000 square metre complex is subject to council approval. It’s proposed to include a 300 bay underground car park and outdoor nursery.

Watpac, the vendor of the site, has notched up $120 million in sales in the past year, according to the AFR.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.