Carmdev buys $21.25m Brisbane industrial site
Carmdev has paid $21.25 million for a development site in the Yatala Enterprise Area.
A 12,600 square metre industrial estate is planned, with an end value expected to exceed $60m.
The 2.2ha Medium Impact Industry-zoned parcel at 51 Empire Drive, Luscombe, was sold by Northvell Property Pty Ltd, which paid $6.17 million for the land in August 2021.
CBRE’s Myles Clentsmith and David Corke were the agents.
Carmdev doubles down
The site has more than 109 metres of frontage to Empire Drive.
It was marketed with development approval for an 11,167 sqm under-roof office/warehouse, with services available.
The estate it sits in has a B-double approved road network.
A roundabout is planned to connect Empire Drive with Peachey or Stanmore Road, connected to the M1 Pacific Motorway (continues below).
The site is about five kilometres from the motorway’s Exit 38 and Exit 41 interchanges.
Yatala Enterprise Area
Carmdev’s latest acquisition follows its purchase of a site within the Vantage Yatala estate for an industrial project known as Yatala Exchange.
That development will contain eight warehouses.
The price paid for Empire Dve values the land at $966 per sqm.
Luscombe is about 40km south of Brisbane’s CBD, within the industrial corridor linking the Queensland capital with the Gold Coast.
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