ESR Australia’s first speculative Queensland development, within its emerging ESR Sherbrooke Industrial Estate in Willawong, has been fully leased prior to practical completion following 12,800sqm in lease commitments.

Situated at 430 Sherbrooke Road, the site was initially designed to include two larger tenants; however, strong offers from customers requiring smaller, 3,000sqm to 5,000sqm spaces drove the revision of development plans to accommodate three tenancies.

With building works set to finalise in late March, the speculative development project will be wholly leased at practical completion following commitments from building products supplier Bremick, Davey Water and Speed Panel for leases ranging from three to seven years.

Bremick has secured a circa 5,200sqm tenancy, Davey Water - a company offering a range of water transfer, conservation, treatment, and filtration services - has leased a 4,200sqm space, and Speed Panel - a leading manufacturer and supplier of fire and acoustic rated wall systems - has secured a 3,500sqm tenancy.

While the rentals have not been disclosed, current rental rates in the area range between $115 - $125psm net.  

ESR Queensland General Manager Development, Craig Robertson, said, “The exponential growth of the Queensland industrial market has pushed demand into emerging industrial precincts such as Willawong, so we were quite comfortable undertaking the development speculatively. This confidence has been vindicated with the quick uptake of space by Bremick, Davey Water and Speed Panel.”

Mr Roberston added, “ESR Australia welcomes our new customers and we look forward to working with each throughout the construction period to ensure the facilities truly cater to their requirements.”

Jack Hardy and Peter Turnbull from CBRE's Advisory & Transaction Services – Industrial & Logistics team secured the lease agreement with Bremick.

Mr Hardy also negotiated the deals with Davey Water and Speed Panel with tenant representative Michael Richardson from CBRE’s Occupier business.

The remaining sites in the ESR estate were pre-committed following design and construct deals.

“Occupiers are focusing on improving efficiencies through automation and scale, and businesses are looking to hold more stock onsite, which is driving demand for greater warehouse heights to accommodate increased future stock levels,” Mr Hardy said.

“This has underpinned considerable interest in Sherbrooke Industrial Estate, given its quality construction, large internal warehouse heights – providing the ability to scale racking higher – and the provision of corporate office accommodation for staff.”

The 6.1ha ESR Sherbrooke Industrial Estate has DA approval for 24/7 access to the site and provision for B-Doubles.

It is situated close to Brisbane’s major arterial road networks, leading national businesses and Brisbane Rocklea Markets, the Acacia Ridge Intermodal, Archerfield Airport, and the city’s southwestern industrial precincts.

To request a lease analysis please contact one of the leasing agents via the contact details below.