Gold Coast’s last large-scale industrial site snapped up

The 22.16ha property at Southport is within an established industrial precinct 5km east of the Pacific Motorway.

LOGOS joined with private markets investment manager Partners Group to buy the site for an undisclosed sum, with development to start next year.

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The completed value of the site is expected to be in the vicinity of $100 million.

“The Southport property is a strategic acquisition for LOGOS in a tightly held market and represents the last scalable infill industrial site in the region,” LOGOS joint managing director Trent Iliffe says.

“The site will allow us to service the strong demand from our customers for well located, quality logistics assets as well as meet the growing demand from local owner-occupiers.”

Joint managing director John Marsh says the site layout provides flexible design and construct solutions from 1000sqm to 40,000sqm.

Any surplus land would be subdivided and sold as individual lots.

Industrial state director for Savills, Callum Stenson, says the deal will deliver much needed modern facilities to the Southport area.

“Over recent years occupiers within the region have moved north or have been forced to stay in small, outdated facilities due to limited supply of modern warehouses in the region,” Stenson says. “The site’s excellent transport access and flexible design options is already driving strong interest from occupiers looking to move to the area.”

This article originally appeared on www.theaustralian.com.au/property.