Seymour Group sells a 65ha parcel of land in the Yatala industrial precinct to Frasers Property who will masterplan a new estate

Richlister Kevin Seymour has sold a newly acquired parcel of land in the Brisbane-Gold Coast corridor to a leading national industrial developer.

An aerial of the 65ha development site at Jacobs Well which Frasers Property has exchanged contracts on with the Seymour Group.

PROPERTY tycoon Kevin Seymour has sold a prime industrial development site in the Brisbane-Gold Coast corridor less than a year after buying the large land parcel.

Frasers Property has exchanged contracts with the Seymour Group to acquire the 65ha site on Stapylton-Jacobs Well Rd, in the heart of the Yatala industrial precinct.

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General manager northern region for Frasers Property Industrial Ian Barter said the acquisition was in line with the company’s strategy to secure significant land holdings in core markets near major infrastructure.

“We see this region consolidating its position as one of the major distribution hubs for southeast Queensland,” he said

The Seymour Group paid $20.5 million for the site earlier this year to long term owners the Hester family.

According to property records the sale of the land parcel settled on October 23 for $38.5 million. Adam Wills from Industrial Space struck the deal.

Seymour Group senior director Daniel Farquhar said they have made improvements to the site since purchasing it.

“There were some approvals there at the time and we enhanced those approvals, reduced infrastructure charges, worked on more approvals and cleared to site of vegetation,” he said.

“We got Stage 1 approved for 35 lots, and a major four-lane entrance. There’s also a 25ha flat site at the rear which is extremely hard to come by.”

Masterplanning has started and Frasers Property expects to bring Stage 1 to the market by the middle of next year.

The estate will accommodate up to 300,000sq m of built form which will appeal to national supply chain and logistics, light manufacturing and warehousing companies.

Frasers Property Industrial general manager QLD Troy Whalan said the company has had great success in Yatala over the past four years.

“Demand is very high as a direct result of strong population growth, a critical shortage of serviced industrial land and major road infrastructure projects including the recently completed Transurban Queensland’s Logan Enhancement Project,” he said.

“This purchase will help us maintain our strong presence there having already developed over $137 million worth of institutional product in the region.”