This article is from the Australian Property Journal archive
FRASERS Property has acquired a 65-hectare industrial site in Queensland’s Yatala region, with plans to build 300,000 sqm of logistics and warehousing facilities.
Located on Stapylton Jacobs Well Rd, the property is three kilometres from Frasers Property’s Yatala Central development and takes its total holdings in the area to 90 hectares.
Masterplanning has started on the newly acquired property. Stage one is expected to be taken to the market by the middle of 2020, and delivered by the first quarter of 2021.
The estate will feature pre-lease development, land and build packages, and selective land sales.
Adam Wills from Industrial Space brokered the transaction, acting for Seymour Group.
Troy Whalan, general manager Queensland for Frasers Property Industrial, said demand is very high in the region as a direct result of strong population growth, a critical shortage of serviced industrial land and major road infrastructure projects including the recently completed Transurban Queensland’s Logan Enhancement Project.
“This purchase further restocks our Queensland landbank in a highly sought-after industrial area and will help us maintain our strong presence in the region having already developed over $137 million worth of institutional product in the region.”
Frasers Property has attracted transport and manufacturing companies such as O-I Glass, Beaulieu Australia, Oji Fibre Solutions, Reward Hospitality and Schutz Australia over the past for years to Yatala Central, of which more than 70% of the development phase has now completed.
In July, Frasers Property sold a portfolio of logistics assets in Australia and Germany to Singapore-listed Frasers Logistics & Industrial Trust for $644.7 million. That included the Avery Dennison Material and GM Kane and Sons facility near the Logan Mwy in Acacia Ridge.
Ian Barter, general manager northern region for Frasers Property Industrial said the acquisition was in line with the company’s strategy to secure significant land holdings in core markets that are within close proximity of major infrastructure.
“The Yatala area will continue to benefit from the expansion of both Brisbane and Gold Coast regions. We see this region consolidating its position as one of the major distribution hubs for south east Queensland.”
