CSR banks $80m for ex-brickworks
Two major assets in Brisbane’s south west Darra have sold.
In the biggest deal, Charter Hall is paying $80.55 million-ex GST for a 17.5 hectare site abutting its recently completed Connectwest Industrial Estate.

At 99 Harcourt Road, also known as 2637 Ipswich Road, Boral CSR Bricks was the vendor, ending an association starting in the 1890s.
The land was recently cleared, remediated, and rezoned for industrial use.
Charter Hall, on behalf of the $13 billion Prime Industrial Fund, is planning a c100,000 square metre business park carrying an end value of $350m.
Immediate construction
Connectwest, which also replaced Boral land, was marketed from 2016.
With an end value circling $250m, it is home to Australia Post, Cascade, CEA and Goodman Fielder.
Construction of buildings on the new site will start immediately, with the bulk of earthworks completed.
Warehouse configurations will be from 10,000 sqm in up to 11 buildings.
“As one of the last remaining large-scale development sites of scale in the inner south west, it is highly attractive to third party logistics occupiers, direct-to-customer businesses and high-end manufacturers,” Charter Hall managing director and chief executive officer, David Harrison, said (story continues below).
“This strategic acquisition strengthens our capacity to service the full breadth of the Brisbane industrial and logistics market and underscores our continued conviction for greenfield development sites,” according to the executive.
CPIF Fund Manager Jack Walters, added, “the acquisition…is in line with CPIF’s strategy to invest and develop well-located, serviced and zoned land, enabling the fund to continue to provide investment grade accommodation for tenant customers demanding brand-new, high-quality, sustainable logistics.”
Cushman & Wakefield’s Tony Iuliano and Gary Hyland were the agents.
Office/warehouse collects $10.18m
Meanwhile a land rich, vacant office/warehouse at 68 Bellwood Street has sold off-market.
The 1.28 hectare property was for lease allowing the agents, CG Property Group’s Ben Hyne and Dylan Williams, to target owner occupiers.
With 1000 sqm of improvements and a 325 sqm awning/wash bay, it collected $10.18m.
Darra is 12 kilometres from the CBD.
Subscribe to our newsletter at the bottom of this page.