It's one of the last few remaining large brownfield sites in Brisbane and it's about to hit the market, with buyer demand expected to match the magnitude of the opportunity.

Being marketed by Knight Frank, the agency has been inundated with inquiries from interested parties in the lead up to the expressions of interest (EOI) campaign that will kick off next week. 

The 16.22ha property at Runcorn, situated 15 kilometers south of the Brisbane CBD, is close to public transport and overlooks the green spaces of Runcorn's sports precinct.

The site is owned by Bradken, a global engineering business providing products and services to the mining sector.

Mark Clifford of Knight Frank, who is marketing the property alongside colleague Christian Sandstrom, say the property, dubbed ‘The Foundry’ (in homage to its soon-to-be previous use), has enormous untapped potential.

Pictured: The brownfield site at 54A & 32 Bonemill Road, Runcorn. Image supplied by DeGroot Communications

“We have already been fielding inquiries from developers keen on the opportunity, including those from both Australia and overseas, which is no surprise as many have been eyeing off the site for years,” Mr Clifford said.

“It’s rare for such a sizeable offering ripe for redevelopment to come to the market, so buyers don’t want to miss out.

“The site may be suitable for a multitude of potential development outcomes, including hi-tech industry, retail, commercial, allied health, aged care and retirement, residential and entertainment uses, subject to Brisbane City Council approval.

Mr Sandstrom says it's rare for a brownfield site of this magnitude to come onto the market with redevelopment potential, especially in Brisbane’s southside precinct - which is why the interest of developers has been piqued.

“It’s one of the most exciting development opportunities of 2018,” Mr Sandstrom said.

“There are very limited large tracts of land like this in the middle ring suburbs of Brisbane, especially situated right next to a train line.

Mr Sandstrom says as housing affordability pushes buyers away from the city, there's a demand for commercial businesses to do the same.

“People are moving further from the city in Brisbane due to affordability, so there is demand from a residential perspective, and since many of these residents don’t want to travel to the CBD for work due to increasing congestion on the road, there is growing demand for commercial businesses to relocate to these areas to provide employment and for more retail amenity," Mr Sandstrom said.

“The distribution of employment opportunities in the region needs to adapt to the changing nature of work as new technologies shape optimal land use.”

A recent MacroPlanDimasi report found there was a significant degree of dispersal of employment throughout Queensland’s South East, with jobs outside inner cities and even identifiable business districts, in suburban areas. The Suburban Business Centre Review even found white-collar industries were not as concentrated in the inner city as would likely be expected.

“Land uses for development sites going forward must keep in mind that there is demand for employment right throughout the south-east and Brisbane, and the future of this site, in particular, has huge potential for job creation,” said Mr Sandstrom.

Mr Sandstrom added the almost certain redevelopment of the Runcorn site would kick off the next wave of major – and transformative - development in Brisbane.

The EOI campaign for the property closes at 4pm on Thursday, October 4.

For more information about 54A & 32 Bonemill Road, email Christian Sandstrom or Mark Clifford via the contact details below. 

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