Phoenix Property Investors buys industrial site in Australia for $310.30m

The property was acquired through a joint venture with Centennial.

Hong Kong-based property investor Phoenix Property Investors has, through a joint venture with Australian property investment firm Centennial, acquired a logistics park adjacent to Brisbane airport for $310.30m (AU$61.35m).

The 15.4 ha industrial site is located at 142 Marine Drive, Brisbane Airport.

The property will be turned into a logistics park with an estimated value of $1.21b (AU$240m). The site will be developed into a multi-tenanted estate targeting metro industrial and logistics occupiers.

Civil earthworks will start after settlement this month, with construction starting in early 2026.

On completion, the site will offer 40,570 sqm of gross lettable area and 3.4ha of outdoor storage hardstand areas.