Leading Brisbane investment and development company Graystone has confirmed its purchase of three development sites at Brisbane Technology Park in Eight Mile Plains in partnership with a group of private investors and owner/occupiers including Multitrode.

The site was acquired at auction for $3.67million and is the last parcel of vacant land in Brandl Street.  Over the next three years Graystone will build six buildings across the three sites delivering a total of 15,000 square metres with a projected realisation in the order of $43M. The transaction and marketing was conducted by King & Co agent, Callum Stenson, who noted that he "received more than 15 enquiries for the property", adding that "this sale shows that a well positioned and well priced parcel of developable land will always be much sought after."

Graystone Chief Executive Tim Johnson said that these sites will give Graystone the opportunity to build on its significant portfolio at Brisbane Technology Park; a portfolio with a completed value exceeding $150 million.
“The sites will be an attractive option for owner/occupiers and tenants looking to join the leading businesses that are already part of the Brisbane Technology Park community” he said.

“Graystone has been developing customised science and technology real estate at Brisbane Technology Park since 1989.  Over the past 8 years the estate has evolved considerably and is now widely recognised as Queensland’s premier technology park."

“This purchase ultimately allows us to continue our strategy of being the cornerstone investor and developer of the Brisbane Technology Park environment.”

Multitrode Executive Chairman Craig Parkinson said that the purchase of the sites in partnership was a great opportunity to further entrench Multitrode’s occupancy at Brisbane Technology Park.
“Multitrode has been at Brisbane Technology Park since 2004.  We couldn’t let the opportunity to become an investor in this great location pass us by” he said.

About Graystone
Since its inception in 1983, Graystone has evolved from a construction and property development company to be the market leader in the delivery of specialised commercial and industrial developments (especially in the science and technology sector).

The Graystone team is engaged in creating innovative, specialised and highly functional commercial properties in Queensland.

Graystone will continue to expand Brisbane Technology Park as a unique site for science and technology-based companies - a first in commercial property development in Queensland.

For further information/interview please contact Sophie Betts (07) 3368 9042 or 0488 775 115.
Stenson can be reached at 0411 725 490