Industrial land in Brisbane’s north continues to draw strong demand, with a Brendale site changing hands for $23 million in a competitive off-market campaign that underscores ongoing pressure on inner-north land supply.
The 49,380 sqm* raw parcel of industrial zoned land at 181 South Pine Road was sold unconditionally to an owner-occupier looking to expand operations. The site transacted at $466 per sqm which given its raw nature and size is in line with the market. Completed lots that are benched, levelled and ready to develop between 1 & 5ha have been trading from $750/sqm with some recent deals under contract up to $950/sqm + GST in specific locations with high exposure.
The site was sold by Morgan Ruig, Mitch Taulelei, and Myles Fredericksen of Cushman & Wakefield.
Morgan Ruig, Director and Head of Brokerage Logistics & Industrial – Queensland at Cushman & Wakefield, said the property drew significant interest due to its size and strategic location.
“We received 10 genuine offers prior to close, which reflects just how rare opportunities like this have become in Brendale.
“There’s a real shortage of large industrial lots in the northern corridor, and owner-occupiers in particular are moving quickly when quality sites come to market” he said.
The sales come amid constrained supply across Brisbane’s core industrial zones. We are tracking only around 150 hectares of active industrial land in core infill precincts—enough to support less than two years of supply at current absorption rates.
“Most of the remaining supply is clustered in the outer north, around Caboolture and Elimbah,” Mitch Taulelei, Director, Brokerage Logistics & Industrial – QLD at Cushman & Wakefield added.
“But in core areas like Brendale, the opportunities are dwindling. We’re reaching a point where land scarcity will start driving values higher again.”
Brendale is considered one of Brisbane’s most tightly held industrial precincts, with remaining vacant land almost completely accounted for. The site at 181 South Pine Road is strategically positioned with dual access from South Pine Road and Duntroon Street, offering direct connectivity to the Bruce Highway and Gateway Motorway.
The broader market is being buoyed by institutional groups deploying build-to-core strategies and a resilient owner-occupier base, despite wider economic pressures.
Mr Ruig said he expects upward pressure on land values to continue as the yield compression cycle tightens.
“As industrial users compete for operational certainty in shrinking infill markets, transactions like this are expected to become increasingly contested - and increasingly valuable.”
*Approx.
