This article is from the Australian Property Journal archive
DEVELOPER Clarence Property’s Hub Heathwood in Brisbane is now 70% sold prior to completion, amidst strong demand for industrial land across the city.
The $300-million-plus Hub Heathwood is the biggest industrial development in the southwest of Brisbane, spanning more than 17-hectares at the 731 Johnson Road site in Heathwood, around 19km out from the CBD.
Just eight blocks are now remaining of the 24 blocks being delivered at the project, with several offering leasing options for industrial occupiers, as well as for sites ranging in size from 6,800sqm to 13,600sqm for hardstand users.
More than 110,000sqm of land now sold or undergoing due diligence at Hub Heathwood, reflecting almost $54 million in sales with land rates of $500-plus per sqm achieved in the estate.
Mark Clifford from Knight Frank’s project marketing team and John Slater from Blue Commercial, have fielded more than 50 enquiries for space at the estate.
“HUB Heathwood represents a remarkable opportunity for investors and businesses seeking prime industrial land. Given the success of the estate prior to completion, with practical completion only weeks away, we are expecting very solid interest in the remaining blocks,” said Slater.
“HUB Heathwood was Brisbane’s biggest small-to-medium lot industrial land subdivision. The Brisbane industrial market has critically low levels of industrial land amid ongoing strong demand, which has led to a high level of enquiry for land lots in this development. With strong enquiry from a wide range of buyers we expect to be totally sold out soon,” said Clifford.
New traffic lights on Johnson Road are set to be switched on in the coming weeks, granting direct access to the estate, with titles also on track to be issued prior to the Christmas break.
“Our team’s dedication and collaboration have created this first-class industrial estate, and it has been a pleasure to watch our vision come to life,” said Ben Somerville, head of capital transactions at Clarence Property.
“The ongoing owner occupier enquiry further solidifies the lack of viable options in the market with access to critical infrastructure.”
