Logan site snapped up at auction

A PRIME parcel of State Government owned industrial land south of Brisbane attracted strong interest before selling under the hammer.

The 1.569ha of land in Economic Development Queensland’s Crestmead Industrial Estate in the Logan Council area was bought by an owner-occupier last week for $2.385 million after a competitive auction, marketed by JLL’s Gary Hyland and Sam Stewart.

The property at 45 Magnesium Drive is strategically located with outstanding access to major arterials including Logan Motorway and Gateway Motorway.

Mr Hyland said EDQ’s first industrial land auction of the year attracted six registered bidders and a competitive bidding process.

“What attracted them was the low site cover and large hardstand area,” he said.

The property has 894sq m of office, amenities, workshop and washbay area.

It has dual crossovers to Magnesium Drive with approved B-Double access.

Mr Stewart said there was strong interest in the site.

“Inquiry was received from groups looking to immediately occupy the site as well as developers and occupiers looking to further develop the site,” he said.