News release

JLL sells rare Albion landholding for first time in over 50 years

A local private investor has paid $4.175m for 87 Sandgate Road in Albion

November 02, 2021

Samuel Stewart

Director, Industrial -QLD
+61439 716 458

Harry Borger

07 32311311

BRISBANE, 2 November 2021 – A land-rich investment opportunity along the high-exposure Sandgate Road in Brisbane’s inner northern suburb of Albion has been sold by JLL’s Harry Borger and Sam Stewart following a highly competitive EOI campaign which attracted over 220 enquiries.

A local private investor has paid $4.175m for 87 Sandgate Road in Albion, representing an initial passing yield of 3.09% and a land rate of $2,359/sqm.

Occupying a prominent 1,770sqm site with dual street frontage, the property is home to one of Australia’s largest wholesalers of electrical and data products, Metal Manufactures Ltd (MMEM).

JLL’s Capital Markets - (QLD) Executive, Harry Borger said the campaign attracted immense market interest, given the rare investment fundamentals on offer.

“Despite the relatively short lease tenure, the offering was highly sought-after by the market, largely due to its prominent location in the heart of the Albion Urban Enterprise Area, as well as the genuine repositioning and redevelopment outcomes on offer,” he said.

JLL’s Capital Markets - (QLD) Director, Sam Stewart said the on-market sale process attracted over 220 enquiries and 10 offers at campaign close.

“This level of interest highlights the strong demand from buyers for land-rich, inner-city investments with future development upside,” said Mr Stewart.

“The sale result was very strong, representing a sharp initial yield of just over 3%.”

“The successful purchaser was unable to overlook the opportunity to own a quality investment in the heart of Albion in Brisbane’s inner north, with the added benefit of future development potential,” he said.


About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.