This article is from the Australian Property Journal archive
CENTURIA Industrial REIT (CIP) has reached full occupancy at its new 10,200sqm distribution centre in Bundamba, QLD, after securing its final tenant in Australia post.
Australia Post has signed on for 50% of the industrial asset at 42 Hoepner Road, which sits around 6km out from the Ipswich CBD and 24km from the Brisbane CBD.
Australia Post will join the only other tenant at the facility, Jaycar Electronics Group, with both tenants are occupying circa 5,100sqm at the facility each on five year terms.
“We are pleased to welcome our long-standing customer, Australia Post, to our new Bundamba facility and to expand our relationship with such a leading national icon, assisting with its last-mile and logistics growth strategy,” said Jesse Curtis, head of industrial at Centuria and fund manager of CIP.
Australia Post has earmarked the distribution centre for use as a dedicated last mile micro freight and mail processing facility, expanding its operations after delivering around 2.64 billion items in 2021, with its ecommerce division growing by 31.8%.
The recently constructed facility was built with ecommerce and transport/logistics operators in mind, with its placement enabling access to 714,000 households within a 60 minute drive.
“We identified Bundamba as a strategic location in Brisbane’s southwest market and developed the sustainable prime-grade facility to capitalise on the area’s access to a growing population and connectivity to major arterial roads,” added Curtis.
The facility is one of the country’s first five-star Green Star Design & As Built Certified industrial buildings under the new rating guidelines, with the sustainable features including rainwater harvesting and a 99kw solar panel system.
“Centuria has built a sustainable industrial property that will be home to a distribution centre that will create local jobs here in Ipswich,” said Teresa Harding, mayor of Ipswich.
The new tenants will also add to the already strong leasing activity and tenant demand in the Brisbane-Ipswich Western Corridor, where vacancy rates have dropped to 1.4%, while the broader Brisbane industrial market sits above at 1.5%.
“Located at the junction of four highways and within an hour’s drive from both an international port and a major primary production area, the facility is in a strategic location for many major industrial occupiers,” added Harding.
Developed by Centuria Capital Group’s development division, the Bundamba asset features an 11-metre clearance, four recessed loading docks, 13 on-grade roller shutter doors, 600sqm of office space and a 9,100sqm concrete hardstand with B-double access.
“The calibre of tenants we have attracted in Australia Post and Jaycar is a testament to both the quality of our asset and understanding our customers’ needs,” concluded Curtis.
