Brisbane Airport Corporation (BAC) is set to open up rare industrial leasing space on Brisbane’s northside, with the development of a new warehouse and distribution facility within the successful Export Park precinct.
The industrial facility is being developed on a 21,000m² site on Litsea Street and will offer approximately 10,000m² of nett lettable area including 550m² of offices and 104 graded on-site car parks.
The flexible space will also feature eight on-grade roller shutters, 10 metre springing height, an ESFR sprinkler system, dual street frontage, and drive-through access within the gated facility.
BAC Executive General Manager Commercial, Martin Ryan said the speculative development will meet growing demand for warehouse and office space in South East Queensland.
“This is one of a series of developments that will form part of our airport city. The next decade will see exponential growth at BNE with more than $5 billion invested across a range of projects including a third terminal and multi modal transport options to better connect BNE to South East Queensland’s major economic hubs.
“Demand for industrial property is increasing as contemporary retail, food and beverage and manufacturing change to meet consumer demand. As industries change, so is Brisbane Airport,” Mr Ryan said.
“We’re already home to 425 businesses employing nearly 24,000 people. Over the next two decades we expect that number will double to nearly 50,000 people working at Brisbane Airport, so we’re preparing for that.
“From an imports and exports perspective, fresh produce suppliers in particular are seeking sites that are well-connected to the USA and major Asian ports. This gives Brisbane Airport a strategic advantage.”
According to Knight Frank, Brisbane’s industrial property vacancy rate is at a six-year low, with available speculative space at the lowest rate in four years due to demand underpinned by the retail and logistics sectors.
New industrial supply in Brisbane has been concentrated in the city’s south and southwest, so the new facility in Export Park is a rare opportunity on Brisbane’s northside not to be missed.
The new development is scheduled for completion in the next 12 months.
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