A CITISWICH property has settled for close to $4 million, demonstrating an increased interest in the Queensland market.
The purpose built OneSteel Reinforcing property in Bundamba's Citiswich Business Park has been sold to a private investor for $3.784 million.
The sale was highly competitive, with close to 50 enquiries made to JLL Industrial, attracting predominantly private investors and syndicators.
Sam Stewart from JLL Industrial says the successful buyer, a Sydney-based private investor, recognised the opportunity for value in Queensland compared to NSW.
"The sales campaign for this property reflects the significant appetite that currently exists in the Brisbane investment market," says Stewart.
"Right from the start we received strong interest from both local and interstate investors it's a great sign for the market overall."
The 5,586sqm property is positioned in one of Brisbane's fastest growing industrial growth corridors within a thriving retail and manufacturing hub, designed to cater for heavy industrial users.
Although purpose built for OneSteel Reinforcing, the facility hosts a generic floor plate that can be adapted to a wide range of industrial users.
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