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Mirvac, Frasers Nab Queensland Build-to-Rent Scheme

Mirvac, Frasers Nab Queensland Build-to-Rent Scheme

Frasers Property Australia and Mirvac will develop the first two affordable housing projects in Brisbane under the Queensland government’s build-to-rent program.

The apartment buildings will be located in the inner-Brisbane suburbs of Newstead and Fortitude Valley, with construction expected to commence mid-2021 following the finalisation of the projects’ design.

The developers’ appointment comes two years after the Queensland government announcement of a $70 million build-to-rent scheme in December 2018.

Under the agreement, Frasers Property will develop a 25-level building comprising 354 apartments at 210 Brunswick Street, Fortitude Valley.

▲ Frasers Property will develop a 25-level building comprising 354 apartments on a 2,020sq m site at 210 Brunswick Street in Fortitude Valley.
▲Mirvac will helm a build-to-rent project at 60 Skyring Terrace in Newstead, Brisbane.

The agreement also covers Mirvac’s site at 60 Skyring Terrace in Newstead, comprising 390 apartments.

Combined, the two projects will comprise 744 apartments with around 243 dwellings to be provided at a discounted rent.

How it works

The scheme involves the state partnering with the private sector to deliver low-rental homes and provide affordable key-worker housing options to the inner city.

Developers were asked to build properties on privately-owned land, which involved the state government then subsidising rental payments.

Queensland education minister and McConnel MP Grace Grace said the build-to-rent program will help provide long-term rental accommodation for tenants who don’t necessarily qualify for access to social housing, but could struggle to live close to where they work.

“We will meet part of the rent cost for the affordable homes to allow a discounted market rate to be offered to eligible tenants like health and emergency service workers,” Grace said.

Related: Suleman Secures Funding for Build-to-Rent Project

▲ Frasers Property Australia and Mirvac have secured an agreement to develop the first two affordable housing projects in Brisbane under the Queensland government's Build-To-Rent program.
▲ Frasers Property will develop a 25-level apartment building comprising 354 apartments on a 2,020sq m site at 210 Brunswick Street in Fortitude Valley.

On completion, Frasers Property will own and operate their development, with the state government subsidising the rental of 144—or 40 per cent—of the apartments by 25 per cent.

The remaining 210 apartments in the building will be offered at market rental.

Approximately 99 affordable housing apartments are included in Mirvac’s Newstead project, which will be offered to eligible tenants at a 25 per cent discount to market rent.

State treasurer Cameron Dick said the two CBD fringe sites had been chosen based on proximity to amenities and major employment, with the two projects pegged to create more than 400 jobs during construction.

“At a time when private investment and construction has slowed due to the pandemic, our Build-to-Rent initiative will support 440 full-time jobs over two years, in addition to ongoing jobs in the operation of the long-term Build-to-Rent developments,” he said.

When complete the Fortitude Valley apartment tower will stand 25-storeys high. It will comprise 42 studio apartments, 188 one-bedroom, 124 two-bedroom apartments, and include basement parking.

Frasers Property Australia’s chief executive Anthony Boyd said the expected three-year construction program was likely to be complete by the end of 2024, with resident leasing opportunities opening at that time.

Mirvac, led by Susan Lloyd-Hurwitz, constructed its first build-to-rent complex in Sydney’s Olympic Park. It also has plans for a 33-level build-to-rent tower on the former Melbourne Convention Centre site, on the corner of Spencer and Flinders streets.

And south of Brisbane, Homecorp Property Group will join with Morgan Stanley to complete a $200 million build-to-rent precinct at the 2-6 Capital Court site at Varsity Lakes.

The project marks the first purpose-built project at the Gold Coast.

This article is republished from theurbandeveloper.com under a Creative Commons license. Read the original article

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Developments

Smooth Sailing for $2.74bn Brisbane Marina Plan

Smooth Sailing for $2.74bn Brisbane Marina Plan

A $2.74 billion marina, residential and recreation precinct just north of Brisbane is set to be streamlined under Queensland’s priority development area scheme.

The 570-hectare development site in Burpengary East received bipartisan support to be declared a PDA following the state election on 31 October.

The North Harbour Marina Precinct consists of a 400-berth marina, retail village, 600 new apartments and 600 detached homes as part of the marina village, and 800 dwellings in a waterfront estate.

The masterplanned community also includes 319 hectares of recreational and regional open space and is expected to be home to around 10,000 residents along Caboolture River.

Joint project developers North Harbour Holdings and Trask Land Corporation will work on the project which is expected to be complete by 2035.

▲ The site adds to the existing North Harbour development in Burpengary East
▲ The site adds to the existing North Harbour development in Burpengary East and is expected to inject $707 million a year into the region.

North Harbour has already received support from Moreton Bay Regional Council mayor Peter Flannery and councillor Mark Booth.

North Harbour project director Bryan Finney welcomed the bipartisan commitment to declare the site a priority development area.

“The PDA will pave the way for North Harbour to become a state-of-the art marine industry hub,” Finney said.

“The North Harbour team has extensive experience with waterfront development and are well placed to attract a significant portion of Australia’s $68 billion marine industry to the region.”

Trask Land Corporation managing director David Trask said with key enabling infrastructure already in place, they are ready to create an exciting legacy project once planning approvals are received.

“The North Harbour Marina Precinct is a vital project which will benefit this rapidly growing area for many generations to come,” Trask said.

“The timing of this announcement could not be better as it will also underpin our region’s post Covid-19 recovery.”

Related: Stockland Submits Plans for $388m Greenfield Project

▲ The North Harbour development will also take advantage on in-demand boat moorings across South East Queensland.
▲ The North Harbour development will also take advantage of current wait lists on boat moorings seen across South East Queensland.

The site adds to the existing North Harbour development which is at stage 45 of land releases and includes 30 display homes.

The Moreton Bay region is attracting a number of large-scale residential projects.

Stockland recently submitted plans for a $388 million residential projects across the Bruce Highway in Caboolture West.

Further north, the Sunshine Coast lifestyle has been a major drawcard during the Covid-induced “Zoom boom” .

The region recorded a 0.8 per cent increase in the second quarter of 2020, meanwhile greater Brisbane prices went up by 1.7 per cent.

This article is republished from theurbandeveloper.com under a Creative Commons license. Read the original article.

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Brisbane

Brisbane’s Top 20 Major Development Projects

Brisbane’s Top 20 Major Development Projects

Brisbane is preparing to add a spate of new major development projects to its ever-changing skyline.

Australia’s third-largest city recently welcomed the completion of the $1.1 billion second runway at the Brisbane International Airport and has been boosted by a now-$50 billion infrastructure and transport pipeline. The city is also lining up an Olympic bid.

While Brisbane’s infrastructure backlog has finally started to move, the Queensland capital is still coming to terms with a stagnant apartment market.

The city’s resources-dependent economy has been thriving in recent years with rental growth across the commercial sector growling steadily within the A-grade asset class.

Despite the increase in new supply over the half-year period, Brisbane is still in for a lean period of new office buildings.

Sizeable residential masterplans and commercial precincts have added to the city’s burgeoning development pipeline, with strong population growth prior to Covid-19 unlocking development opportunities.

From the city-shaping cross river rail, to a new multi-billion-dollar casino as well as a number of high-profile high-rise commercial, hotel and residential projects, the city is primed for major development projects and growth.


Waterfront Place

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Property giant Dexus is pushing ahead with plans for a $2.1 billion transformation of Eagle Street Pier and its Waterfront Place commercial precinct in Brisbane’s CBD.

The country’s biggest office landlord lodged plans in June for its 9,000sq m riverfront site which includes two new commercial towers, riverfront dining, public plazas, extended riverwalk and ferry terminal.

If realised, the existing Eagle Street Pier building will make way for two towers, the 75,300sq m north tower reaching 49-storeys and the 43-storey south tower comprising 60,000sq m of office space, sitting above 4-levels of underground car parking.

Another key feature will be the widened and upgraded Riverwalk for pedestrians and cyclists.

If approved, Dexus plans to commence construction on the Eagle Pier site in 2022 with the first stage to be delivered by 2026.

Key facts:

• Dexus plans for the riverfront promenade to be closed between 2022 to 2024
• The project will create more than 1,000 construction jobs during the next decade, with an additional circa 900 operational support jobs once completed.


205 North Quay

Cbus

Super fund developer Cbus Property, in conjunction with its local partners Nielson Properties and the Raniga family, is moving ahead with plans for a $600 million office tower in Brisbane’s fast-growing North Quarter precinct.

The development, a 37-storey A-grade office tower, is slated for a 3000sq m riverfront corner site, created from the amalgamation of properties at 205 North Quay and 30 Herschel Street.

The development will be known as 205 North Quay and, if approved, will add 50,000sq m of net lettable area to the Brisbane CBD office market in the fast-growing North Quarter precinct.

Key facts:

• Designed by Hassell, New York-based REX and Brisbane’s Richards & Spence
• Proposal features a whole-floor wellness facility, 25-metre lap pool, childcare facilities, a public realm auditorium, outdoor terraces on every level plus rooftop facilities
• Targeting 6 Green Star and 5.5 Star NABERS Energy ratings


Griffith University

Griffith University Roma Street

Griffith University is moving forward with $1 billion plans to leave Mount Gravatt Campus, lodging a development application in September to create a new vertical campus at Roma Street Station.

New and existing students will be welcomed at the new 55-storey tower in Brisbane’s CBD as well as the growing Logan campus.

The ground floor of the building includes a public auditorium to be used for presentations on scientific developments, debates and community services.

Key facts:

• The uni plans to take up 15 of the 55 floors
• Will help accommodate 4,000 students transitioning from Griffith’s Nathan Campus
• Will act as a hub for the uni’s IT, business and law schools and student accommodation


60 Queen Street

60 Queen Street Brisbane major development project Charter Hall

Fund manager Charter Hall has a major Brisbane development in the works, lodging plans for a 35-storey office tower in August.

The project is slated for a 1,850sq m corner site at the top of the CBD’s Queen Street Mall, created from the amalgamation of three properties at 217 George Street, 231 George Street and 60 Queen Street, ranging from three to eight storeys in height.

The development will be known as 60 Queen Street and, if approved, will add 29,000sq m of net lettable area to the Brisbane CBD office market.

Key facts:

• Charter Hall purchased the site for $94 million mid-2018
• Proposal designed by Brisbane-based architecture firm Blight Rayner
• The development is targeting 6 Green Star and 5.5 Star Nabers energy ratings.


251 Wickham Street

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Brisbane-based developer Cornerstone has plans in front of council for a major commercial project in Brisbane’s Fortitude Valley.

The proposal, for a high-rise commercial tower alongside the landmark McWhirters building, calls for a 28-storey development spanning 14,500sq m of net lettable area.

The development is slated for a 1,357sq m site running between 251 to 253 Wickham Street, together with part of 47 Warner Street, currently occupied by a derelict and dilapidated former building.

Plans feature meeting and recreation spaces on levels 15 and 27, a gym with lap pool, sky terraces and balconies.

The building will offer 55 car parking spaces across three basement levels as well as 108 bicycle spaces and end of trip facilities.

Key facts:

• Designed by Brisbane-based firm Bureau Proberts
• The site currently holds approval for an 11-storey proposal.


Cross River Rail

Cross River Rail Brisbane Major Project

Construction on Queensland’s biggest infrastructure project, the fully funded $5.4 billion Cross River Rail being built by a consortia of several government agencies and the private sector, is well under way.

The major project will comprise a 10.2 kilometre rail line which will run from Dutton Park in Brisbane’s southern suburbs to Bowen Hills in the city’s north, with a 5.9 kilometre-tunnel under the CBD.

The development will see the delivery of four underground stations at Boggo Road, Woolloongabba, Albert Street and Roma Street, as well as eight upgraded stations across Brisbane’s fringes and three new Gold Coast stations at Pimpama, Helensvale North and Merrimac.

The Pulse consortium—a partnership led by CIMIC Group companies, Pacific Partnerships, CPB Contractors, and UGL with international partners DIF, BAM and Ghella—is set to deliver the tunnels, stations and above-ground development.

Key facts:

• Early works for the project began in August 2017
• At peak, the Cross River Rail will create 7,700 construction jobs
• First trains are expected to be running in 2024.


Queens Wharf

Queens Wharf Brisbane major development project

Brisbane’s $3.6 billion Queen’s Wharf development—which has taken more than a significant footprint of the CBD—has moved ahead with construction, and is now well under way.

Destination Brisbane Consortium—which includes the Star Group, developers Far East Consortium and Hong Kong-based Chow Tai Fook—is responsible for the integrated resort, after being selected by the Queensland Government to transform the riverfront site.

The project, the largest private sector development in Queensland, is spread over 12 hectares of land and 15.3 hectares of water and will eventually comprise a total gross floor area of 390,000 square metres.

The precinct, being delivered by builder Multiplex, is located between William and George streets and will offer four new luxury hotels, 2,000 residential apartments and a casino.

The development, earmarked for completion by late 2022, has also earned a 6-Star Green Star Communities rating.

Key facts:

• Designed by Cottee Parker
• Will offer 50 bars and restaurants and a 24-hour, 100m-high ‘sky deck’
• The total project covers an area equivalent to almost 20 percent of the city centre.


360 Queen Street

360 Queen Street Charter Hall major development project

Charter Hall and Investa Commercial Property Fund’s $650 million Queen Street tower is quickly taking shape.

Development plans for the $650 million building consisting of 50,000sq m of office space, a retail component and childcare centre were approved in 2018.

Sitting in Brisbane’s Golden Triangle in Queen Street, three existing buildings including Mineralogy House will be demolished to make way for the new 41-level tower.

Key facts:

• The joint venture acquired the 2,147sq m site in June 2017 for $53.75 million
• Designed by Brisbane-based architecture firm Blight Rayner
• The building is targeting a 5-Star Green Star design and As Built rating, 5 Star NABERS Energy Base Building rating and WELL Core and Shell Gold Certification.


117 Victoria Street

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Sydney-based developer Crown Group has rebooted plans for its controversial $460 million residential development in Brisbane’s West End.

Crown Group originally submitted an application in January 2018, soon after picking up the 1.25-hectare site—the former home of Computershare—at 117 Victoria Street for $35 million.

The application, comprising four 12-storey buildings, originally called for 463 dwellings, a mix of one, two and three-bedroom apartments, as well as terraces and four-bedroom penthouses, across a common podium adjacent to the Brisbane river.

Crown Group is now planning to provide for larger apartments with a greater project gross floor area in response to market conditions, and aims to take its amended application to council later this year.

Key facts:

• Original proposal designed by FJMT
• Amenities include a 25-metre pool, cabana and poolside lounges, barbecue facilities, a gym and 4,200sq m of communal open space.


RNA Showgrounds

Major development projects Brisbane RNA Showgrounds Lendlease

Lendlease’s $2.9 billion redevelopment of the 22-hectare RNA Show Grounds in Bowen Hills is a vast mixed-use development comprising residential, commercial office and retail.

The urban renewal development has been under way since 2010 and work is set to continue through to 2025.

The project includes 340,000sq m of new residential, commercial and retail buildings, together with an additional 76,000sq m of new development on RNA retained land.

Since construction commenced in 2011, Lendlease has delivered 30,000sq m of office space—including 25 King Street, Australia’s largest timber tower—700 residential units and 3,000sq m of retail, equating to 21 per cent of the completed masterplan.

Once complete, Lendlease anticipates that more than 15,000 people will live, work and play each day at the Brisbane Showgrounds.

Key facts:

• The development has also seen the delivery of the Royal International Exhibition Centre, a state-of-the-art convention and meeting facility for hosting events and festivals
• Upwards of 60,000sq m of office space, an additional 2,300 units and 7,000sq m remains to be built.


Albion Exchange

Brisbane's 0m Albion Exchange major development project

Geon Property will soon break ground on the first stage of its $750 million Albion Exchange project in Brisbane’s inner north, after winning approval for the two-tower mixed-use development earlier this year.

The transit-oriented development, which will be delivered over 15 years, will revitalise a 4,900sq m state government-owned development site running adjacent to the existing Albion train station.

Stage one of the Albion Exchange masterplan also includes a $28.7 million upgrade of transport facilities and access to the Albion Train Station.

Key facts:

• Designed by Hames Sharley
• The four hectare state-owned site is bordered by Mawarra Street, Albion and Hudson Roads.


Brisbane Live

Major development projects Brisbane - Brisbane Live

The $2 billion Brisbane Live arena, a 17,000-seat entertainment venue pegged for Brisbane’s CBD, has been touted since 2007.

The 65,000sq m arena, now part of the wider Roma Street Cross River Rail precinct, is still shrouded in uncertainty, with state government recently tapping the private-sector for investment.

If realised, the open-air precinct, likened to Melbourne’s Federation Square, would be built above the existing Roma Street rail lines under the Cross River Rail Delivery Authority in partnership with AEG Ogden’s Harvey Lister.

The entertainment centre, serviced by underground rail and busway infrastructure, would have outward-facing retail opportunities on the Roma Street frontage as well as a “Sky Lounge” operating as a function space during non-event times.

The demolition of the original Brisbane Transit Centre on site moved ahead earlier this year with the first of three buildings taken apart level by level to make way for the new Cross River Rail Roma Street station.

Key facts:

• The arena would have outward-facing retail opportunities on the Roma Street frontage
• A ‘sky lounge’ will operate as a function space during non-event times.


443 Queen Street

443 Queen Street major development project Brisbane

Cbus Property’s 47-storey apartment building at 443 Queen Street is rapidly taking shape.

The $375 million residential tower, consisting of 264 apartments, will include a private dining room, catering kitchen, outdoor lounge cabanas, a gymnasium and 25m pool perched on the river’s edge.

The building was recently awarded a 6 Star Green Star design rating by the Green Building Council of Australia, the first residential building in Australia to be recognised with this rating.

Originally scheduled for completion this year, the building won’t be finished until at least August 2021.

Key facts:

• Designed by Singapore-based WOHA and Brisbane-based Architectus
• Construction is being overseen by Probuild
• The building includes a boardwalk level restaurant
• Cbus Property acquired the site for $49 million in 2014.


Victoria Park

Victoria Park masterplan Brisbane

masterplan for the transformation of Victoria Park golf course into a 45-hectare public parkland in Brisbane’s inner north is moving forward.

The masterplan includes a 1.4-hectare lake, boardwalks and trails, a high-ropes course, children’s water park, skate park and tennis courts.

A cultural hub with indigenous art, a community garden and urban farm is also slated for the 45-hectare park.

While costs to convert the 18-hole golf course are yet to be released, the existing park—located two kilometres from the CBD—will start the transition into a parkland in 2021.

Key facts:

• The draft vision was released in January 2020
• The park would be double the size of the City Botanical Gardens.


Brisbane Quarter

The One Brisbane Quarter major development projects

Taiwanese-backed Shayher Group officially launched its $1 billion precinct, known as Brisbane Quarter, at 300 George Street in the city’s CBD in 2016.

The major development encompasses a complete city block along the Brisbane river and features three towers, including Australia’s first purpose-built W Hotel.

The One, an 82-storey residential tower being delivered by Multiplex, comprises 467 apartments and is set to become Brisbane’s second tallest building when completed early next year.

The precinct also includes two levels of riverside dinning and high-end retail across a shared podium beneath all three towers.

Key facts:

• The first of the three towers, The 32-storey W Hotel, marked Brisbane’s first five star hotel in 20 Years, and was completed in late 2018
• The precinct’s recently completed second tower, 300 George Street, comprises 58,000sq m of net lettable area and floorplates of 1,400 square metres.


80 Ann Street

80 Ann Street Major development project Brisbane

Listed developer Mirvac last year broke ground on its $836 million 80 Ann Street Brisbane CBD tower.

Mirvac acquired the 5,500sq m site between Turbot and Ann Streets adjacent to Brisbane City Hall from Singaporean group Wee Hur for $79 million in late 2017.

The commercial project, spanning an entire block, will reach 35-storeys and offer 60,000sq m of net lettable area across some of Brisbane CBD’s largest floor plates at 2,200 square metres.

Financial services giant Suncorp will anchor the tower, taking 66 per cent of the total space.

Along with the 10-year pre-commitment from Suncorp, Mirvac has also closed a deal to build the tower with M&G Real Estate, which will own a half stake for $418 million, reflecting a yield of 5 per cent.

Key facts:

• Designed by Woods Bagot
• The project, scheduled for completion in 2022, is targeting 6 Star Green Star, 5 Star NABERS Energy and Gold Shell and Core WELL ratings


Greater Springfield

Greater Springfield masterplan development Brisbane

Billionaire developer Maha Sinnathamby is pressing forward with plans for a $88 billion residential and commercial masterplan in Springfield, near Brisbane.

Planning approval for 2,685,600sq m of mixed-use development is in place, making Springfield Australia’s largest masterplanned city.

The masterplan, located about 26 kilometres south of Brisbane, is projected to be home to 140,000 people and 50,000 jobs by 2030.

Earlier this year, Sinnathamby appointed investment bank Moelis Australia to find a partner with deep pockets to help complete the masterplanned city.

Key facts:

• About 25 per cent of Springfield’s development has been completed so far
• At least $18 billion has already been invested, with a further $70 billion needed to fully realise the masterplan.


West Village

West Village West End Brisbane major development project

Japanese developer Sekisui House has broken ground on the third stage of its West Village project in Brisbane’s West End, featuring the heritage-listed former Peters Ice Cream factory as its centrepiece.

The $800 million mixed-use precinct, which is the company’s first inner-city masterplanned project in Queensland, is broken up into three stages and includes seven residential buildings.

Upon completion, West Village, will have up to 1,200 apartments, townhouses and heritage residences, two commercial buildings, just under one hectare of open space, a playground, a Woolworths supermarket, carparks, a gym, theatre precinct, medical precinct and 35 retailers.

Key facts:

• Plans for residential masterplan were first lodged in April 2015
• The development spans the 2.6-hectare former Absoe site
• Construction being overseen by Hutchinson Builders
• The project is scheduled for completion in 2023.


Brisbane Metro

Major development projects Brisbane Metro

The Brisbane City Council’s “congestion-busting” Brisbane Metro project will see the delivery of a new transport system along 21 kilometres of existing busway between the Royal Brisbane Women’s Hospital and Eight Mile Plains.

The transport project was initially proposed as a subway line to supersede the Northern and Southern Busways, taking hundreds of the council’s yellow-and-blue buses off the road and replacing them with 24 metre long electric bi-articulated buses capable of carrying up to 150 people.

A new underground station will be built at the Cultural Centre in South Brisbane as well as new busway tunnel underneath Adelaide Street in the CBD connecting to the Central Busway near King George Square underground station.

The project, which will be split into two parts and include 18 stations and 11 interchanges, was recently approved by the Queensland government with preliminary site works now occurring with services expected to start running by the end of 2023.

Key facts:

• The project was originally proposed during the 2016 council election
• Brisbane Council has committed $644 million to the major transport development while the federal government has chipped in $300 million.


Brisbane Cruise Terminal

Brisbane Cruise Terminal major development project

Construction of Brisbane’s first cruise ship terminal is closing in on completion.

At peak operation, the terminal is expected to handle over 1,100 vessels and at 1.8 million passengers within its first five years.

The new terminal will accommodate some of the biggest cruise ships in the world, including Royal Caribbean International’s 293m-long “Radiance of the Seas”.

Key facts:

• Construction is being overseen by Hindmarsh
• Expected to support 3,750 jobs
• Anticipated to welcome more than 760,000 visitors annually (pre-Covid figures)
• Estimated injection of $1.3 billion in net expenditure into the Brisbane economy.

This article is republished from theurbandeveloper.com under a Creative Commons license. Read the original article.

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Brisbane

City of Logan Rises as Industrial Powerhouse

City of Logan Rises as Industrial Powerhouse

The City of Logan continues to strengthen its position as an industrial powerhouse in south-east Queensland, attracting more than $1.7 billion of national and international investment during the last 18 months.

Despite challenging global economic conditions, Logan’s industrial sectors have continued to push forward—building approvals have far exceeded the previous financial year, with more than double gross floor area approved in 2019-20.

Businesses in the transport and logistics, manufacturing and construction industries are key drivers in the local economy, generating $8.3 billion in revenue annually and creating almost one in three local jobs.

Located between the Queensland cities of Brisbane and the Gold Coast, Logan is fast becoming the region’s leading transport and logistics hub, with unrivalled access to major arterials and in close proximity to three international airports and the Port of Brisbane.

Recent infrastructure upgrades, including Transurban’s $512 million Logan Enhancement Project, have improved freight productivity and spurred commercial activity along Logan’s major industrial corridor.

Logan will soon be home to one of the largest industrial estates in Queensland—and the largest in the city’s history—with the Crestmead Logistics Estate breaking ground in August this year.

The $1.5 billion estate, to be developed during the next five years by Pointcorp, will deliver 650,000sq m of warehousing, business, logistics and manufacturing space.

With the unprecedented demand for industrial space driven by consumers, the Crestmead Logistics Estate will enter the market at a pivotal time in the history of Logan and the wider region.

Matthew Frazer-Ryan, national director, industrial at Colliers International, said Logan was an exceptional location for this landmark development.

“The estate is just 6.4km from the Logan Motorway and Gateway Motorway interchange within the hugely successful Berrinba-Crestmead industrial region.

“This location benefits significantly from the recently-upgraded Wembley Road Interchange, providing occupiers with efficient access to a network of roads servicing greater Brisbane, south-east Queensland and key interstate transport routes,” Frazer-Ryan said.

Singapore’s Mapletree Logistics Trust will develop stage one of the estate into a $440 million world-class logistics park spanning 200,000sq m.

Mapletree boasts an impressive tenant network of well-known multinational brands and has a multi-billion-dollar global asset base across real estate in Australia, Singapore, Hong Kong, Japan, China, South Korea, Malaysia and Vietnam.

▲ Logan's Wembley Business Park.
▲ Logan’s Wembley Business Park.

This follows more than $240 million of investment from a number of national and international companies moving in or expanding their footprint in Logan including DHL, CEVA Logistics, Mitre 10 and JB Hi Fi.

In addition, national third-party logistics (3PL) company McPhee Distribution Services and multinational Japanese gas appliance manufacturer Rinnai Corporation completed their $40 million warehouse in August.

Situated in the well-established industrial precinct in Berrinba, the 13,000sq m facility co-locates McPhee Distribution Services and Rinnai Corporation’s Queensland headquarters.

With 3PL providers in high demand, McPhee Distribution Services managing director Jay McPhee said having ready access to their customers in south-east Queensland has been advantageous during this time, and reinforces the decision to set up in Logan for the long-term.

“We will be based in Logan for the next 20 to 30 years at least.”

As the second-fastest growing city in the region, Logan has access to a catchment of more than 2.6 million potential customers, a vast network of suppliers and a diverse pool of talent.

The city’s growing population was a key drawcard for air delivery company Wing’s world-first autonomous drone delivery service, which recently celebrated one year of operation in Logan.

Based in the South West 1 Enterprise Park in Berrinba, Wing saw customer demand surge in March to May, and plans to expand its service in coming months.

The South West 1 Enterprise Park was an initiative of Logan City Council to attract investment and jobs to the city.

Established in 2013, companies such as Phoenix Transport, National Tiles, PACCAR, GMK, Avery Dennison, Huhtamaki and Sigma Healthcare have moved into the estate.

Recently achieving a significant milestone, the industrial estate reached its completion with the construction of Phoenix Transport’s 9,999sq m custom-built facility.

In response to the take-up in South West 1 Enterprise Park and existing tenants in the Crestmead Industrial Estate, Queensland developer De Luca Corporation is nearing completion of the first stage of Berrinba Central—a $60 million mixed-use development that will provide essential services for the area and surrounding suburbs.

With thousands of jobs created and millions of dollars funnelled into Logan since the inception of South West 1 Enterprise Park, its success shows how the city is evolving and has become a key player in south-east Queensland’s industrial sector.

Why invest in the City of Logan? Click here to find out more.

This article is republished from theurbandeveloper.com under a Creative Commons license. Read the original article

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