This article is from the Australian Property Journal archive
GLOBAL logistics company DB Schenker has signed a major preleasing agreement for a 31,400 sqm warehouse at the $350 million Redbank Motorway Estate in Brisbane's south-west, owned by Goodman Group.
As a result, construction of the estate has started.
DB Schenker will anchor the development which will house their Queensland logistics business. The 10-year lease term will commence on completion of the facility, targeted for late June 2014.
DB Schenker’s regional operations manager Kip Sandercock said the company ccompleted an extensive logistics review of various locations across metropolitan Brisbane and chose Redbank, in the City of Ipswich, as their preferred location.
“This project offers DB Schenker the opportunity to continue to support our existing clients and to grow our business in QLD. DB Schenker has undertaken an extensive and exhaustive analytical process over the past nine months culminating in this decision to partner with Goodman and the City of Ipswich both of whom have demonstrated their willingness and ability to work with DB Schenker to achieve this outcome,” he added.
Meanwhile Goodman has further committed to a new 14,800 sqm speculative facility at the estate, which will be ready in July next year. The 62 ha estate has sufficient developable land to deliver over 250,000 sqm of prime industrial space.
“Brisbane is an important market for Goodman and we have increased our QLD portfolio by 20% over the last two years. Our focus has been to secure quality opportunities for further investment, particularly in light of the undersupply of large, serviced industrial land,” Goodman Group’s general manager Australia Jason Little said.
When fully built out, Redbank Motorway Estate will provide the City of Ipswich with over 2,300 full-time jobs.
Property Review
