Developer swoops on nursery
An industrial developer has picked up the Andreasens Green nursery on the Gold Coast’s outskirts, for $35.2 million.
The 12.6 hectare parcel, 54 Pearson Road, Yatala, came with a scheme for a 19-lot subdivision.
It was also marketed for its potential to yield a high impact improvement.
Colliers’ Gavin Bishop, Sean Thomson, David Brisk ad Nick Evans were the agents.
The buyer is speculated to be a major Brisbane developer (continues below).
The deal comes 10 months since we reported KM Property Funds and PGIM Real Estate, in a joint venture, paid Stockland c$102m for a 9.6ha Yatala investment, with two buildings containing 43,572 square metres, and a then 4.7 year weighted average lease expiry.
Yatala is about 40 kilometres north west of Surfers Paradise and a similar distance south east of Brisbane’s CBD.
More to come.
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