BP fuels up
10 March 2009,
BP has bought 3.41ha at the entrance to Radius Industrial City for an undisclosed price, but industry sources suggest the purchase would have been in the vicinity of $12 million.
The industrial city is a joint venture between George Group and the Potter Group, on 50ha of land with more than 1.5km frontage to the Logan Motorway
Patrick George from the George Group says the sale that took the estate to over half sold or leased.
“This is a major coup for Radius Industrial City — the BP Service Centre will provide 24 hour convenience retail and fast food services to the estate, in addition to motorists traveling the Logan Motorway,” says George.
Jones Lang LaSalle industrial director Steve de Nys says the Radius Industrial City at Larapinta is easily the best positioned development on the Logan Motorway, with a superior location that offers logistics savings for any buyer, investor or tenant.
“The value Radius Industrial City brings to the southeast Queensland industrial property market as a dedicated, environmentally sound, extremely well positioned industrial estate cannot be underestimated,” he says
Matthew Richards from Scan Industrial says Logan Motorway, with the suburbs of Heathwood and Larapinta, has emerged as the major warehouse and distribution hub of Brisbane.
Other companies that have committed to the estate include SCA Hygiene, Linde Materials Handling, Hafele and Energy Power Systems Australia.