Clarence banks $10.2m for hardstand site
Clarence Property Group has offloaded another one of five blocks retained within a Heathwood industrial estate sold down two years ago.
The 1.36 hectare parcel, 43-51 Hub Crescent (pictured, top), part of the 24-lot Hub Heathwood estate, fetched $10.2 million following an off-market campaign.
The result – $750 per sqm – is impressive, coming six months since the fund manage banked $5.65m ($479/sqm) from Gabriel and Vincent Reggi’s Carmdev Group for a 1.18ha amalgamation in the street.
Colliers’ Nick Evans and David Brisk were the agents. The buyer is speculated will develop.
Heathwood is 22 kilometres south of Brisbane’s CBD.
Heathwood sell down
Clarence outlaid $30m for the 17ha block making way for Heathwood Hub in late 2021 (story continues below).
At the time known as 731 Johnson Street, it came permit ready for the estate which ended up being created, with lots between 500-7000 sqm.
Marketed as “the largest small lot subdivision in Brisbane’s south”, about 70pc of the estate sold down in 2023.
Some sites achieved over $600/sqm.
One, a 5136 sqm parcel which traded for $3.1m at #36, is being replaced with an office/warehouse we reported today sold to an occupier $10.47m.
Clarence retained 43-51 Hub Cr as a hardstand investment.
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