A SYDNEY property development, investment and funds management group has concluded its purchase of a 21.47ha parcel of land in the Citiswitch Business Park at Bundamba.
In one of the largest industrial land sales so far this year Aliro Group paid almost $71m for the land at 88 Hume Drive in a deal brokered by Knight Frank’s Mark Clifford on behalf of the Walker Corporation.
Aliro Group is subdividing the multiblock development with lots ranging upwards in size from 2ha.
The deal was struck almost a year ago and has only recently settled upon completion of civil works.
The property was one of the last remaining sites that ¬Walker Corporation had for sale on the southern side of the highway and has submitted an application with Ipswich Council for the final stage of the Citiswich Business Park, which will include a new land subdivision offering a total of 50ha of serviced and benched lots to be released later this year.
Mr Clifford was reported in the national media latest week saying the Walker Corporation had been in the estate for the long haul.
“They are now seeing some great rewards for an ongoing commitment in delivering this large-scale, master-planned estate that sits at a superb strategic location, at the junction of three of the major highway routes, being the Ipswich Motorway, Warrego and Cunningham Highways,” he said.
“Given the growth in Brisbane’s Western Corridor, the high level of demand from industrial users in this location and the lack of industrial land in the Brisbane area, it’s clear to see that Citiswich is in high demand,” Mr Clifford said.
Walker Corp development manager Todd Martindale said Citiswich continued to evolve as one of South East Queensland’s premium master planned estates that caters for a wide mix of corporate business and industry uses.
“Occupiers see the benefits of establishing at Citiswich, with these next developments to be well placed to provide ¬increased employment opportunities for the ever-increasing population growth in the Ipswich region,” he said.
Citiswich is a premium industrial estate located in the logistics hub of Brisbane’s south-western corridor.
Current clients at Citiswich include Costco, Travel Centre, The Reject Shop, OneSteel, Caltex and Australian Pharmaceutical Industries (API).
The 350ha estate is Queensland’s largest industrial development, providing well-connected industrial land that caters for a wide range of industries including logistics, manufacturing, warehousing, distribution, construction and wholesale retail companies.
Key to the estates appeal is its proximity and access to both existing and recently upgraded transport infrastructure.
Located in the rapidly expanding western corridor between Brisbane and Ipswich, Citiswich is accessed via several points including the Warrego Highway from the north and Brisbane Road from the south, and features B-Double access throughout.
The regions $5 billion transport and service upgrades, including the now completed 4.6km Legacy Way connection, have brought Citiswich to life – slashing travel times to key centres such as the CBD,
Brisbane Airport, the Port of Brisbane, north and south Gateway arterials and the TradeCoast Precinct.
