Construction feelers go out for $90m Brisbane industrial park
What a typical unit in The Link Industrial Park is expected to look like.
Construction tenders have gone out for a $90m industrial park in Brisbane’s west which is close to the finish line for development approval with the Brisbane City Council.
The Link Industrial Park proposal is over 8.025ha at 142, 162, and 172 Sherbrooke Road, Willawong, where three large format warehouses were initially planned, containing over 32,000sq m of gross leasable area for nine tenants.
MORE: Former LNP Senator Barry O’Sullivan lists rare block of land
Surprising new owner for former North QLD brothel site
Proposal pictures filed with the Brisbane City Council includes green space at the back where adult trees will remain.
Brisbane City Council planning officials have asked for more information from Link developers including keeping more of the adult trees on site to boost biodiversity, add end of trip facilities for cyclists plus bays to store bicycles and making allowances for staff recreation areas.
Joint venture partners Centennial and MaxCap are confident the project will get through the council process with about 50 per cent total site coverage, and Centennial has begun tendering for construction of the park, with an estimated completion date of Q4 2023.
In a statement on Wednesday they confirmed a $14.35m deal – brokered by Agency HQ Commercial agent Jack Barrett – to buy out the site from three separate vendors who have homes and outbuildings there.
Three sites are being amalgamated for the development proposal.
Mr Barrett said it was “relatively rare to find a such a significant parcel of land in this location, and with record low vacancy in the core Central South precinct around Acacia Ridge and Coopers Plains, there is currently significant interest in new buildings in Willawong”.
“Not only does Willawong offer these businesses a location that is close to their current sites, thereby improving efficiency and continuity, it also provides a handy solution in addressing staff retention.”
Centennial development manager, James Park, said “the Willawong locality is highly land-constrained due to fractious ownership, but the amalgamation of these sites on Sherbrooke Road provides an excellent opportunity for end users seeking connectivity to local and regional markets”.
The project is expected to be built in two stages if given the green light.
Centennial CEO industrial and logistics, Paul Ford, said the off-market purchase of the Willawong site was in line with their focus on “institutional grade ‘mid-space’ warehouse accommodation, with strong connectivity to major distribution networks in land-constrained, inner-ring locations at scale”
Mr Ford said when complete, the estate would appeal to a broad range of end user customers with a range of warehouse configurations and sizes, from 1,200sq m GLA right up to 20,000 sqm GLA.
MaxCap head of direct investment Simon Hulett said the acquisition was a strong strategic fit for their Diversified Opportunity Fund.
The new estate is located halfway between the Logan Motorway and the Acacia Ridge Rail Marshalling Yards.
FOLLOW SOPHIE FOSTER ON TWITTER
