Skip Ribbon Commands
Skip to main content

News release


Former Moreton Bay Regional Council sites sell for $8 million via JLL

50 Magnesium St Narangba / 181-191 South Pine Rd, Brendale

Two former Moreton Bay Regional Council sites set for re-development have been sold in two separate deals negotiated by JLL's Nick Bandiera worth more than $8million.

The first site, a 5.71ha property at 181-191 South Pine Road in Brendale sold for $7.2million to a private developer. The industrial land block boasts 114m frontage to South Pine Road, Brendale's busiest arterial road, with dual access at the rear of the site via Garret Street.   

Positioned in the heart of Brendale's industrial precinct, it sits approximately 3.2km from the Bruce Highway and 25km from the Brisbane CBD.

The property was taken to market via Tender which, given the flexibility of the site, attracted high interest and fielded over 30 enquiries from a range of developers and owner-occupiers.

The second property is based at 50 Magnesium Street in Narangba and sold for $1.5million. It sits on 3.5ha of raw, industrial-zoned general industry land and is situated in the heart of the Narangba Industrial Estate within close proximity to the Bruce Highway interchange.

Mr Bandiera said the successful purchaser was a local based precast company (Brisbane Precast) who had been in the market place for over 12months seeking a 1ha land parcel to cater for their future growth plans.

"While the property was initially too large for their operation, it has provided some promising upside for them to occupy part, develop and sell down the residual land component into smaller allotments which they found difficult to identify.