Industrial units at the new Eagle Farm Business Park have sold out in just six months, totalling $9,300,050 in sales.
Titles for the 20 unit business park were released in April 2021 after the development was completed by Rida Corp in late 2020.
Located at 300 Lavarack Ave, Pinkenba, the properties ranged from 68-203sqm, averaging a rate of $4,130/sqm,
The properties were marketed by Ray White Commercial TradeCoast agents Jack Gwyn and Jared Doyle.
“The units were sold to 12 owner occupiers and eight investors,” Mr Gwyn said.
“All investor purchasers either purchased the properties with a tenant commitment ready to go, or appointed us to find tenants while they were under contract, in each case leading to seamless transitions.
“Buyers were attracted to the affordable price points, great natural light, and low office to warehouse ratio which is what most occupants want at the moment.”
Mr Gwyn said the market for industrial property in the region had been very active.
“We have buyer’s calling us daily and very limited options to offer,” he said.
“There seems to be a shortage of sub-$600,000 industrial properties at the moment.
“Another stage of this development will commence in about two years, joining the rear of this stage to Kingsford Smith Drive.
“This will not only increase traffic to the existing development, but also provide more much needed affordable stock to the market.”