Berrinba industrial precinct has experienced unprecedented tenant and investor demand this year, with high-profile occupiers committing to over 81,000sqm across five major deals in the last three months.

 Additionally, two of the biggest industrial investment transactions in South East Queensland year to date have occurred in the precinct.

“If major occupiers continue to take up land at this rate, the remaining 35-hectares currently available is likely to be absorbed within the next 24 months,” said Matthew Frazer-Ryan, National Director of Industrial at Colliers International who is marketing several leasing opportunities in the precinct on behalf of the institutional owners. 

At a glance:

• Occupiers take up more than 81,000 square metres at Berrinba industrial precinct in just the past three months
• The deals include leasing terms ranging from five to ten years and rent ranging from approximately $110-$120 per square metre  
• Remaining 35 hectares could be absorbed within the next 24 months

The five major leasing deals which have been secured in the last three months’ have lease terms ranging from five to ten years and rents ranging from approximately $110-$120 per square metre subject to building design and specification. 

The deals include: Wing taking up 17,800 square metres within Ascenda’s spec building at 1-7 Wayne Goss Drive; Ceva committing to 20,800 square metres within Frasers Property’s estate at 125 Gilmore Road; DHL leasing 20,600 square metres within GPT’s Wembley Business Park; Phoenix Transport taking up 9,999 square metres within Frasers Property’s SouthWest1 at 43-61 Kellar Street; and Huhtamaki committing to 12,635 square metres at Wayne Goss Drive also within the SouthWest1 estate.  

Two of the biggest industrial investment transactions in South East Queensland this year have also occurred in the surrounding areas of Parkinson, where a half-stake in the Coles tenanted cold storage distribution centre was sold for $134.2 million, and in Crestmead where Metcash tenanted distribution centre was sold for $183.6 million.

Frazer-Ryan said that Berrinba had been hamstrung for several years whilst the Logan Enhancement Project was under construction, but that new occupiers and investors were now moving in including Frasers Property, GPT, Charter Hall, Logos and ESR.

“Now that this major infrastructure upgrade has been finalised the Berrinba region has become a highly sought after and competitive industrial market due to a great mix of institutional owners in the precinct, all hungry to secure tenants and develop stock on long term leases,” he said.

“Logan Motorway industrial areas are very tightly held and now that the $512 million Logan Enhancement Project has been finalised this has opened up arterial road access and has dramatically improved connectivity to the area. This is a critical reason why occupiers are moving and expanding further in the precinct.”

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