Offshore investor rides industrial boom to $120m payday

Chris Vitale says the project will drive the next wave of infrastructure and logistics growth on the Gold Coast.

Property funds house Metrics Credit Partners has teamed up with Queensland developer Vitale Property Group to purchase a major parcel in Queensland’s growing Coomera region for about $120m.

The pair have picked up Lot 1 Pacific Highway, Coomera, which was billed as the last major holding on the Gold Coast, to develop a major project in one of the state’s most strategic and rapidly growing corridors.

The 53.99ha site – known as One Pacific Highway – is among the last remaining large-scale, developable parcels in southeast Queensland.

The acquisition followed a competitive campaign, managed by Colliers agents Daniel Coburn, Gavin Bishop, Marlon Crawford and Sean Thomson, for an offshore vendor.

With direct access to the M1 and the future Coomera Connector, and approval for a multi-lot staged subdivision, Metrics and Vitale are planning to transform the site into a mixed-use estate that will drive economic growth, job creation, and infrastructure investment.

Metrics chief executive Andrew Lockhart called out the site’s potential. “One Pacific Highway represents a rare opportunity to unlock large-scale industrial and employment land in a rapidly growing, and under-supplied corridor. We look forward to working with the Vitale team on this high-quality project that aligns with regional planning priorities, supports long-term economic growth and delivers results for our investors,” he said.

The tie up is the second joint venture between Vitale and Metrics to redevelop major industrial land, and they are also developing the 130ha Briswest Industrial Estate in Ipswich, in conjunction with Pearson Property Services.

Vitale director Chris Vitale said the company would deliver a generational project in this strategic zone. “This acquisition reflects our long-term vision to create a benchmark industrial and mixed-use precinct that supports the next wave of infrastructure and logistics growth on the Gold Coast,” he said.

“Industrial land supply on the Gold Coast is incredibly constrained, particularly when it comes to large-scale, developable sites. With infrastructure and population growth accelerating, the pressure on employment lands will only intensify. We see this as a once-in-a-generation opportunity to meet that demand head-on.”

Colliers director of industrial and logistics Daniel Coburn said the site was unique in terms of scale, location, and flexibility. “The level of interest we received – including over $700m in unsatisfied capital – highlights the depth of demand for strategic industrial landholdings. Vitale and Metrics are ideally placed to bring this site to life,” he said.

Surrounded by major occupiers such as Costco, FedEx, Maritimo, and Nutrition Warehouse HQ, and near Westfield Coomera, the under-construction 600-bed Coomera Hospital, and the Gold Coast Marine Precinct, the site is primed to become a major employment and logistics hub.

Vitale is known for its collaboration with Accor Hotels and The Entertainment Group on the Mondrian Gold Coast Residences and hotel project. The Burleigh Heads project includes a 25-level residential tower and a luxury hotel.