Macquarie-backed LogiSPACE buys maiden Queensland asset
Unison Projects has sold adjoining industrial development sites to Macquarie Asset Management-backed LogiSPACE – banking a major profit after three years.
The Brendale holdings traded for a total $34.32 million.
The largest parcel, Lot 916 Stanley Street, spanning 6.46 hectares, collected $18.46m.
Unison paid CSR $13.42m for this asset in 2024.
The second block, Lot 506 Eadie Court, spreads 2.22ha.
Acquired three years ago from Avid Property Group for $7.2m, it sold to LogiSPACE for $15.87m.
Blue Commercial’s Gary O’Shea and Modus Property Group’s Nick Bandiera were the agents.
LogiSPACE secures 8.7ha
The properties mark Sydney-based LogiSPACE’s maiden Queensland assets.
The amalgamation is earmarked for a 35,207 square metre business park (artist’s impression, top); it puts the end value at c$167m.
The Eadie Ct parcel will be complete within 15 months – in the third quarter of 2027 (continues below).
Stanley St is expected to be developed by 2028.
LogiSPACE expands east coast footprint
LogiSPACE was established last year by former ESR Australia executives Troy Bryant and Darren Searle.
The platform has been assembling east coast investments including at Chester Hill, 25 kilometres west of Sydney, and Tottenham, nine kilometres west of Melbourne.
“Brendale has emerged as a critical junction in Queensland’s logistics infrastructure with connectivity to major population centres, mid-ring distribution networks and emerging employment hubs,” Mr Bryant said.
“Against this backdrop, the availability of a site of this scale, location quality and development potential presented an exceptional opportunity,” according to the executive.
Mr Searle added “the Brendale acquisition demonstrates our ability to source premium logistics real estate in supply-constrained markets and execute transformational development strategies at scale,”.
“Brisbane represents a real opportunity to build institutional grade logistics infrastructure, and we intend to be the platform that defines the next chapter of the market, he said.
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