Brisbane industrial market soars with a record-breaking three $100m-plus sales this year
BRISBANE, September 2019 – Queensland’s industrial investment market is beginning to boom with an 18% rise in national investment sales since last year and an industry first record of three sales over $100 million.
“In 2018 there was $3.2 billion in national investment sales above $10 million in Australia across 109 sales, and Queensland accounted for 15% of these sales. Since the start of this year Queensland’s figure has risen to account for 33% of national investment sales, more than doubling our presence in the market,” said Gary Hyland, JLL Senior Director of Industrial in Queensland.
“2019 is looking to be a record-breaking year for the Brisbane industrial investment market with an industry-first of three sales above $100 million already.”
The three sales were:
- 40 Schneider Road, Eagle Farm which sold for $102,500,000 and is leased to the Brisbane City Council with a 19.5-year WALE; - 99 Sandstone Place, Parkinson with a 50% interest selling for $134,200,000. This major refrigerated distribution is leased to Coles with 13.4-year WALE and, - 105-137 Magnesium Drive Crestmead which sold for $183,600,000 and is leased to Metcash with a 10-year WALE.
Tony Iuliano, JLL’s Australian Head of Capital Markets & Logistics said there had been approximately $1.9 billion in national sales above $10 million since the start of 2019 and Queensland has accounted for 33% of these sales showing significant growth since last year.
Read more: https://www.jll.com.au/en/newsroom/brisbane-industrial-market-soars-with-a-record-breaking-three-100m-plus-sales-this-year
