A more than doubling of industrial land values in Brisbane’s outer northern suburbs in three years has helped deliver a big windfall to property fund manager Garda following the sale of a site to logistics giant ESR for $114 million.

Garda paid just $16 million for the 25ha site at 109-135 Boundary Road in June 2021 and secured DA approval to build a circa 100,000 sq m estate the following year.