The six lots of an industrial estate in Brisbane’s Redbank have fallen like dominoes in a succession of one-by-one sales for a total exceeding $14 million.
The deals at 61 River Road, about 25km south-west of the CBD, involved four vendors offloading the lots successively over 18 months. Four public campaigns and two off-market transactions followed one another, with each deal creeping up in value.
The assets sold for $1.4 million to $3.45 million, and were acquired by owner-operators. The final two lots were bought for a combined $5.675 million by a local investment fund.
Ray White Commercial director Harry Egan, who brokered the deals, told The Urban Developer that once owners saw the value the sales could achieve, they lined up to put their assets on the market.
“Some of these spaces have been occupied for 20 years, and due to the fact that they hadn’t been transacted for a long time, a lot of people were unaware what their properties were worth.
“It was great to reset the benchmarks for the ... area.”
With a 3 per cent vacancy rate across Brisbane industrial assets, Redbank was becoming a primary target for sector tenants, Egan said.
“What was once overlooked is now one of the most active pockets in Brisbane’s industrial landscape. There’s real demand from owner-occupiers who want strategic positioning without paying premium inner-west prices.”
Goodman’s nearby Redbank Estate hosts major warehousing and logistics tenants such as Australia Post, Coles, Visy, and FedEx. That facility has been an anchor for the area, according to Egan.
“Now we’re starting to see the older buildings in the area transact and be transformed into, really, the extension of the industrial hub that is the western corridor of Brisbane,” he said
The Redbank region has had plans put forward for a rapid and drastic evolution in recent years, particularly at Redbank Plains.
Atrio Property plans to transform a quarry in nearby Redbank Plains into an 1800-home estate, while an Ipswich City Council proposal would add a rail line connecting Redbank Plains to Ipswich and Brisbane.
The suburb was in Queensland’s top 10 for residential transactions in the June 2025 quarter.
