This article is from the Australian Property Journal archive
A NATIONAL group will move into the Bunnings Warehouse facility in Brisbane’s inner suburb of Albion, after paying $14 million for the soon-to-be vacant property.
Colliers International’s Hunter Higgins and Anthony White negotiated the sale of 16 Hudson Road, which has a building of 4,547 sqm over two levels on a 4,608 sqm site.
Bunnings will vacate in June.
The site was offered with zoning that allows for a high-density residential project of up to 10 storeys, and attracted more than 130 enquiries and four offers during the expressions of interest campaign.
“We successfully shortlisted a national group who were looking to acquire a building with future development upside,” Higgins said.
“They could also see the potential this property presented – the prime location in a rapidly evolving precinct.
“Albion is experiencing a major transformation and has a lot of potential for growth in terms of property value,” he added.
Key projects in the area include a $750 million development by Geon Property, the Albion train station precinct redevelopment, the $100 million Albion Park Raceway, Crosby Park Apartments development, the Hudson and the proposed Tatts Development.
Australian Property Journal
