Two industrial sites in Brisbane sell above reserve at auction

Industrial sites in Brisbane’s inner north are hot picks, as indicated by the results from two recent sales. 

The first site at 31-37 Bunya Street, Eagle Farm, (above) sold for $850,000 plus GST. At 1,618 sqm, the sale represents a land rate of $525 per sqm.

The site offers nearly 310 sqm of warehouse/storage space and features a demountable office and amenities block. The site was acquired by the owner of the adjacent block, who plans to utilise the General Industry B zoning for future development.

The second sale at 235 Robinson Road, Geebung sold for $1.4 million. A 3,408 sqm vacant corner site, it has the potential to accommodate a number of retail, wholesale and industrial businesses.

CBRE’s Dan Munnich and Nick Witheriff brokered the sale of the two sites.

Munnich said both sites sold well above the reserve, demonstrating the strong demand for industrial sites.

“Both auction campaigns attracted over 20 enquiries, with approximately eight registered bidders present on each auction day," added Witheriff.