A strata estate in Crestmead Business Park has sold out in its entirety following a successful sales campaign by Savills Australia and New Zealand and Knight Frank. The state-of-the-art industrial estate, consisting of 29 high quality concrete tilt panel units, attracted a mix of owner-occupiers and tenants, with all tenanted units swiftly purchased by investors following the finalisation of leases.
Crestmead Business Park, located at 5 Rai Drive, Crestmead, was built by MD Property, reaching practical completion in October 2023. Ideally located within Logan City’s premium business precinct, the estate boasts close proximity to the Logan Motorway, providing direct access to Brisbane via the Gateway Motorway, the M1 Pacific Motorway — north to the Sunshine Coast and south to the Gold Coast — and key interstate freight routes, as well as west to Ipswich.
Throughout the course of the campaign, agents for the sale saw unprecedented demand for the premium industrial units, with over 1,000 enquiries recorded and a majority of transactions taking place from August 2023 onwards.
Tom Hartman, Senior Executive – QLD, Industrial and Logistics at Savills Australia and New Zealand remarked on the overwhelming interest, stating, “Upon viewing the site, occupiers were blown away with the quality and design of the estate.
“The finishes in the units, as well as the scaling back of the GFA to allow for excellent truck access, higher parking ratios, and container drop zones, made these units very appealing. It’s unsurprising the units attracted the level of interest they did and the estate sold as quickly as it has done,” Mr Hartman said.