Investa has paid $21 million for the Swanbank Enterprise Park, an industrial development site in Ipswich, Queensland.
Investa bought SEP through an off market deal.
SEP is a 508 hectare industrial site located 29 kilometres south-west of the Brisbane CBD and approximately 5 kilometres south-east of Ipswich.
SEP is forecast to yield 290 net hectares with existing land use zonings aligned with Investa’s intended development plans.
The purchase takes Investa’s commercial development inventory to $217 million, including the recently announced sale of Lorimer St, Port Melbourne.
“Situated on the corner of Redbank Plains Road and with 3km of frontage to the Cunningham Highway, Swanbank Enterprise Park has excellent access to the major road network. Swanbank is a key industrial site well positioned to accommodate the growing demand for industrial land in the South-East Queensland region,” Investa’s commercial developments group executive Richard Johnston said.
“Investa intends to subdivide the site for land sales and building packages over an 8 year timeframe with construction anticipated to commence in the 1st Quarter of the 2007 calendar year and Stage 1 available for sale 12 months later,” he added.
Meanwhile, the group’s development at Bay Link Business Park, has received development approval from Caboolture Shire Council.
The 21 hectare industrial site is located in Deception Bay 30 kilometres north of the Brisbane CBD.
The Bay Link Business Park will have a net land area of 11.8 hectares and 49 lots ranging in size from 2,015 sqm to 9,375 sqm.
“Bay Link Business Park will be providing much needed light industrial land required to service the growing population in the Caboolture region,” Johnston said.
“There has been strong demand for the land which was released in late April 2006 with 42 Expressions of Interest already lodged. Construction of Stage 1 is anticipated to commence in Q1 FY2007 and is expected to take approximately six months,” he concluded.
By Adam Parsons
