Costa partnership snares Brisbane industrial sites
Brix Property Group and Costa Asset Management have snapped up two south Brisbane industrial development sites.
At Stapylton, the partnership outlaid $9.5 million for a 7.4 hectare block – just over half (3.86ha) of which is developable – at 157 Staplyton Jacobs Wells Road (pictured, top).
Benched, levelled and compacted, the parcel was marketed permit-ready for a 92-unit business park.
The incoming owners will instead make revisions, expecting to receive council approval early next year, which is when properties will be marketed for sale and lease.
Crew Commercial and JLL were the agents.
Closer to town, at Acacia Ridge, Brix and Costa have also amalgamated three lots forming a 2.075ha piece of the Waratah Industry Park.
Warehouses and offices ranging from 140-2635 sqm are planned.
Again, this project is expected to hit the market next year.
“The site presents an opportunity to develop premium assets in an established industrial market which rarely sees new building products being delivered,” Brix managing director, Adam Brick, said (story continues below).
“Our acquisitions in Queensland will enable Brix and Costa to diversify and capitalise on the strong demand from owner occupiers and investors looking for land and industrial facilities in Brisbane’s southern corridor,” he added.
The deals come 10 months since the partnership outlaid $7m for a 1.9ha industrial investment at Melbourne’s east Bayswater.
Not long earlier Brix and Costa paid $19m for a 6.65ha building block at Seaford, also in the Victorian capital, with plans for a major business park.
Also today, we are reporting Brix independently purchased the Kalkallo Hotel, north of Melbourne, for $2.3m, and two neighbouring commercial development sites at a speculated $4.5m – all up covering 1.8ha.
Acacia Ridge is 15 kilometres from Brisbane.
Stapylton is 38km to the CBD and 40km from Surfers Paradise.
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