This article is from the Australian Property Journal archive
LANDBRIDGE Group will develop a new industrial and logistics park in Darwin.
Northern Territory Chief Minister Michael Gunner and Landbridge chairman Cheng Ye announced the development of the Landbridge Industry and Logistics Park for port and trade related logistic activities within the East Arm Logistics Precinct, 8km from the city.
The park will be located on a 34-hectare parcel of land along Berrimah Rd which was sold to Landbridge by the NT government’s Land Development Corporation.
The land for the development has been sold under a commercial arrangement, which means the sale price is commercial-in-confidence, however it was above the independent valuation received.
The park is a potential site for cold stores and warehouses to support Landbridge’s existing activities connected with their long-term lease of the Darwin Port. This development will take place over the next 12 years.
Tenants of the Landbridge Industry and Logistics Park are expected to be Chinese and Australian businesses focussing on trade between the Territory and Landbridge’s Chinese base in Rizhao.
“This investment is a show of confidence in the Territory economy and is evidence of the Territory’s strong relationship with China,” Gunner said. “This is a strategic development by Landbridge that will help them drive more business through the Port which is good for the Territory economy.”
Australian Property Journal
