This article is from the Australian Property Journal archive
FRASERS Property Australia has bolstered its Brisbane portfolio with the acquisition of a 6.678 hectare industrial land parcel in Berrinba.
Located on the northern side of Berrinba, off Australand Drive and through to Third Avenue, approximately 30 metres from Frasers Property’s existing Berrinba Logistics Park, the sites were acquired from three private owners.
Frasers Property Australia commercial & industrial Queensland general manager Troy Whalan said, “We first purchased land in the Berrinba area 11 years ago and have already delivered over $125 million worth of institutional product in the area for several national and international companies. The Logan Motorway corridor is considered an important location for businesses that operate across Queensland and interstate borders,”
“The majority of enquiry to move into the area is coming from transport and logistics users as a direct result of the Logan Motorway upgrade. Food suppliers and general manufacturing companies are also relocating to the area due to its strategic location. The area is essentially becoming built-out and land banks such as Berrinba are in high demand,” he added.
The estate will feature pre-lease development, land and building packages as well as selective land sales. It will accommodate up to 30,000 sqm of built form, enabling Frasers Property to service existing and new customers.
Myles Clentsmith from Savills brokered the deal and he said in recent times, the Berrinba precinct has attracted significant industrial development activity.
“Approximately 291,699 sqm of industrial space has been delivered for owner occupiers and tenants in this area over the past seven years. These figures represent some of the strongest in south east Queensland.” Clentsmith said.
This is Frasers Property’ second major industrial play in less than a month after it paid around $40 million for 63.3ha land parcel in Melbourne.
Australian Property Journal