The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Urban Leader Awards Logos RGB White
NOMINATIONS CLOSE SEPTEMBER 12 RECOGNISING THE INDIVIDUALS BEHIND THE PROJECTS
NOMINATIONS CLOSING SEPTEMBER 12 URBAN LEADER AWARDS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
ResidentialStaff WriterWed 23 Mar 16

Pellicano Picks Up Prime Brisbane Industrial Site

D

Pellicano has acquired its first industrial property in Brisbane since 2007, securing a 46,698sqm site at 24 -48 Archerfield Road Darra in Brisbane's southwest.

The privately owned construction and building company secured the asset for $10.5 million on the back of seven residential development site purchases across Brisbane and the Gold Coast between 2010 and 2014 totalling more than $82 million. These acquisitions have resulted in a residential pipeline of over 3,550 apartments.

The Darra site has 220sqm of frontage to Archerfield Road and currently sits on three titles, with one lot of approximately 7,000sqm cleared and ready for immediate development.

Formerly home to ABB Australia, the industrial property also includes a 12,000sqm B-grade building which is suitable for lease.

Pellicano managing director Nando Pellicano says the company has a long standing relationship with ABB Australia which facilitated a smooth sale, which was negotiated by Colliers International and Cushman Wakefield.

"Pellicano designed and constructed ABB's Melbourne facility in Melbourne approximately 10 years ago," he said.

"Pellicano has retained ownership of the facility which is located in the Monash precinct and ABB is still a tenant.

"Having a positive existing business relationship certainly helped to secure the deal as there was already a level of confidence from both sides."Mr Pellicano says current market conditions are favourable for the purchase of large sites in industrial hubs like Darra, for a number of reasons.

"Large unoccupied buildings are currently in low demand making it an ideal time to secure sites at competitive rates with the potential for redevelopment," he said.

"The Darra site is a prime Brisbane infill site which presented substantial land and improvements with approximately 12,000sqm of commercial building space available for immediate occupation.

"Initial plans are underway for a masterplan redevelopment of the entire site and the existing industrial building will be available for short to medium term lease.

"Patience is the cornerstone of Pellicano's growth strategy and we believe over the next 12 to 18 months the industrial leasing market will show strong signs of improvement. We see the rise in demand for quality commercial and warehousing space occurring as a flow on effect from the residential boom and the fundamental shift of the Australian dollar."The industrial site is strategically located at 24 -48 Archerfield Road, providing easy access to the Centenary Motorway and Ipswich Motorway.

IndustrialAustraliaReal EstateSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
The Adelaide purpose built student accommodation market is about to increase by 1058 beds with the State Commission Assessment Panel supporting two towers in the making.
Student Housing

Highrise Approvals Add 1000-Plus PBSA Beds in Adelaide

Renee McKeown
The two towers, of 35 and 34 storeys, help cement the SA capital’s growing status as the best place in Australia for the…
LATEST
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
2 Min
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
3 Min
The Adelaide purpose built student accommodation market is about to increase by 1058 beds with the State Commission Assessment Panel supporting two towers in the making.
Student Housing

Highrise Approvals Add 1000-Plus PBSA Beds in Adelaide

Renee McKeown
3 Min
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/pellicano-picks-up-prime-industrial-site
SHARE
print
Print
TOP STORIES
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
Woolloongabba Precinct Vulture St
Exclusive

Brisbane Developer in Cross River Rail Compensation Tussle

Clare Burnett
4 Min
The Mondrian Gold Coast hotel's food and beverage is driving profits
Exclusive

Touch, Taste, Theatre: What’s Driving Mondrian’s Success

Renee McKeown
6 Min
Fortis’ display suites are designed as brand environments first, with tactile details and curated design to build buyer confidence before project specifics.
Exclusive

Relevant or Redundant: Will Tech Kill Display Suites?

Vanessa Croll
7 Min
Exclusive

Missing Heart: Why The Gold Coast Needs a CBD

Phil Bartsch
7 Min
View All >