This article is from the Australian Property Journal archive
THE Brisbane Airport Corporation will develop a new warehouse and distribution facility within the Export Park precinct to meet the growing demand for warehouse and office space.
The facility is being developed on a 21,000 sqm site on Litsea Street and will offer approximately 10,000 sqm of nett lettable area including 550 sqm of offices and 104 on-site car parks. It will also feature eight on-grade roller shutters and 10 metre springing height.
BAC executive general manager commercial Martin Ryan said the speculative development will meet growing demand for warehouse and office space in South East Queensland.
“Demand for industrial property is increasing as contemporary retail, food and beverage and manufacturing change to meet consumer demand. As industries change, so is Brisbane Airport.
“We’re already home to 425 businesses employing nearly 24,000 people. Over the next two decades we expect that number will double to nearly 50,000 people working at Brisbane Airport, so we’re preparing for that,” he added.
Ryan said this is one of a series of developments that will form part of the airport city.
“The next decade will see exponential growth at BNE (Brisbane Airport) with more than $5 billion invested across a range of projects including a third terminal and multi modal transport options to better connect BNE to South East Queensland’s major economic hubs,” he continued.
According to Knight Frank, Brisbane’s industrial property vacancy rate is at a six-year low, with available speculative space at the lowest rate in four years due to demand underpinned by the retail and logistics sectors.
