HARVEY NORMAN BUYS MACGREGOR SITE

Written on the 15 November 2016

HARVEY NORMAN BUYS MACGREGOR SITE

HARVEY Norman has purchased a 23,786sqm site in MacGregor, south of Brisbane, for $16 million, where the company will build a new superstore.

The Kessels Road site, which is located in a large format retail precinct, has more than 10,000sqm NLA occupied by Asahi Beverages.

"Asahi will be relocating the production process housed at MacGregor to another facility they operate in Brisbane to create a more efficient manufacturing footprint," says Anthony White of Colliers International, who negotiated the sale alongside colleague Matthew Frazer-Ryan.

The six-week expression of interest campaign generated more than 80 enquiries.

The site is the last available major holding at the Kessels Road site, and Harvey Norman plans to build a new centre that will offer opportunities for other tenants.

"The strategic location of the site is vital for the future growth of their store footprint. MacGregor is a strong performing precinct and Harvey Norman will work over the medium term towards a development outcome that will add even more diversity for customers in this precinct," says Frazer-Ryan.

"Sites of this size with main road exposure and high level of existing infrastructure in place are increasingly rare throughout Brisbane, particularly as residential rezoning has been prevalent.

"The property features great access via the existing dual crossovers, generous on-site parking and over 101 metres of frontage to Kessels Road."

 

 

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