Clarence Property intends to develop a business park – Heathwood Hub – on a 17 hectare south Brisbane site it has just purchased for $30 million.
The parcel, 731 Johnson Road, Heathwood, was offered permit-ready for a 24-lot subdivision with sites between 500-7000 square metres.
The fund manager and investor said it intends to develop state-of-the-art industrial, office and logistics facilities (artist’s impression, top), which it will retain.
Knight Frank’s Mark Clifford, who sold 731 Johnson Rd for Multeem, is now managing Clarence’s leasing campaign with Lachlan Hateley.
Clarence spends again in SEQ
Based at Lennox Head, near Byron Bay, Clarence made its maiden Brisbane investment six years ago.
Last August, the the fund manager outlaid $14.4m for a 1.4ha permit-ready industrial building block at Richlands, about six kilometres away.
The group also holds several assets at Murarrie, near Brisbane Airport, including a 2.3ha business park purchased for $18.2m last May and an office/warehouse majority leased to Smith & Nephew, which set the fund manager back $8.8m in 2020.
Late last year Clarence snapped up two low density housing estate sites between Byron Bay and the Gold Coast – at Bilambil Heights and Brunswick Heads, New South Wales.
“With our growing portfolio of industrial properties, development projects and the significant growth and demand in the south west corridor, Hub Heathwood offers us another opportunity to provide value to our investors whilst providing premier facilities for future tenants,” the group’s managing director, Peter Fahey, said of the Heathwood acquisition (story continues below).
“We are already fielding significant interest from…users, showing there is a strong demand in this location with supporting infrastructure and road networks,” he added.
About 19 kilometres from the CBD, Heathwood is one of the city’s fastest growing regions, according to Mr Clifford.
“Significant infrastructure is being tipped into the area including the recently complete Wembley Rd interchange and Ipswich Motorway upgrades,” according to the executive.
The Logan Mtwy is about 300 metres away.
“Hub Heathwood is positioned immediately south of the Heathwood Logistics Estate, which is home to household brands including Woolworth, Coles, Asahi, Hilton Group and Australia Post,” the agent added.
“It is a highly sought after location for industrial, warehouse and office occupiers”.
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