A FORMER pub built in the early 80s which later became home to Australian label Drizabone has been sold to a church group for $2.8 million.
The property, at 104 River Hills Road at Eagleby (pictured), went under the hammer in June, but was passed in at $2.5 million.
Jones Lang LaSalle industrial team senior negotiator Ben Hatch says three active bidders have since been interested in the property with Twin Rivers Christian Family purchasing the site.
The church-based group provides community services such as employment, low-cost food and skills’ training.
The 40,500sqm property (4.05ha) features a 3000sqm ground level office, warehouse and showroom area, plus a 370sqm basement.
“Some 34km southeast of Brisbane’s CBD, 104 River Hills Road is ideally positioned within the rapidly expanding M1 corridor midway between Brisbane and the Gold Coast,” says Hatch.
“The property is easily accessed north and south to the Gateway Motorway and is in one of southeast Queensland’s fastest growing business and residential precincts.
“This emerging Eagleby precinct is ideally located to capitalise on the success of surrounding business hotspots, which include Beenleigh, Yatala, Loganholme and Logan City. Major business nodes within the immediate area include the Yatala Enterprise Area, Beenleigh Town Centre and Loganholme. In addition, the site represents an outstanding opportunity to capitalise on the limited availability of land available for mixed-use development in both the Brisbane and Gold Coast fringe markets.
“Developments of this size and location are becoming more and more scare.”
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