A modern food processing plant in the fast-growing corridor between Brisbane and the Gold Coast has sold for $12.2 million.
The off-market deal for 18 Motorway Circuit, Ormeau, was sealed by Ray White’s Jaems Balfour on a yield of just under eight per cent.
Occupied by wholesale butcher Top Cut Foods, trading as Top Cut Meats, the asset contains 4598 square metres of building area, a high-quality office, cold storage, meat processing and packing zones.
The 7980 sqm block falls within a 3000 hectare precinct known as the Yatala Enterprise Area (YEA) – marketed as the largest industrial zoned land precinct in the Gold Coast, also six kilometres from Brisbane’s outskirts.
Elsewhere in this pocket, in April, GPT Group secured Gliders Logistics and Transport for a 5700 sqm at Stapylton.
Six months ago City of Gold Coast spent $12.8m on an 85ha farm at 396 Stanmore Road, Yatala – just outside of YEA – with plans to convert it into public space (story continues below).
Agents list 4975ha Norwell site, Pacific City, five kilometres from Ormeau
Last month, Adam Rubie and Brendan Hogan from Colliers International’s Development Site Sales department launched the public marketing campaign for Pacific City – a 4,975 hectare development site in Norwell – five kilometres east of Ormeau.
This landmark property – which the agents say is the largest Australian development site to ever be offered – is an amalgamation of more than 200 blocks.
A “city scale project” is mooted, specifically some 60,000 dwellings, employment precincts, tourist hubs, social infrastructure and public spaces.