Flagstone industrial site sold for $15m
Norhart Developments has bought an industrial development site in the Flagstone Priority Development Area at North Maclean.
The 20.25 hectare parcel, 820 Greenbank Road, set it back $15 million.
A staged 28-lot subdivision is planned following consultation with Economic Development Queensland.
Lots will range from 2000-8000 square metres. Construction for the estate will start shortly.
Brisbane based Norhart is also behind the Belvedere Business Park at Park Ridge – which we reported recently was sold down, Cansdale Business Park at North Lakes and Waterford Business Park at Waterford West.
820 Greenbank Road
The Greenbank Rd site sits within the broader Flagstone growth corridor in Logan, designated a Priority Development Area by the state government, encouraging industrial and residential product (continues below).
Last week we reported Amazon committed to a $750m, 144,000 sqm distribution centre at the nearby Flagstone Logistics Estate, to be held by Charter Hall and Fife Capital.
Colliers’ Nick Evans and David Brisk were the agents.
The vendor paid $12.375m in late 2022.
North Maclean is 34 kilometres south of Brisbane’s CBD.
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