Charter Hall has pre-leased a 45,259sqm Tradecoast Logistics Facility negotiated by CG Property
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Sep 14, 2023
Charter Hall has pre-leased a 45,259sqm Tradecoast Logistics Facility negotiated by CG Property
CG Property group’s Michael Callow and Mark Gilbride have completed one of the largest pre-commitments for calendar year 2023 in the Southeast Queensland industrial market on behalf of owner and developer Charter Hall at Pinkenba.
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Charter Hall has pre-leased a 45,259sqm Tradecoast Logistics Facility negotiated by CG Property
CG Property group have completed one of the largest pre-commitments for calendar year 2023 in the Southeast Queensland industrial market on behalf of owner and developer Charter Hall at 57 Culya Street, Pinkenba.
Located adjacent to the Brisbane Airport as part of the Australian Tradecoast Precinct, the 45,259sqm pre-commitment across two buildings was leased to one tenant and construction will commence immediately with completion due mid-2024.
Michael Callow of CG Property Group could not disclose the details however said that he felt industrial rents in South East Queensland still had further room for growth over the next 12 months with a continued lack of supply applying upwards pressure.
Charter Hall acquired the site in 2021 through CG Property for $42,885,000 which at the time reflected a market leading land rate of $505psqm in the Tradecoast however Mr. Callow said due to constraints on land supply in the area, the site would have had around 20% - 25% growth on the sale price in the past two years.
He added that the Brisbane Airport and Tradecoast Central had also completed large pre-commitments in the area recently as well including Aramex (26,000sqm BAC), Laminex (30,000sqm Tradecoast Central) as well as others presently in the pipeline so land supply was dwindling.
“The Brisbane leasing market is continuing to perform in the back half of 2023, at present we are tracking over 100,000sqm of stabilised and pre-commitments on the Logan Motorway as well” he added.
For further details contact Michael Callow or Mark Gilbride of CG Property Group via the below contact details:
Related CG Property Group Reading:
Major Brisbane industrial facility for lease - Knight Frank & CG Property
Substantial land holding with DA for sale in Brisbane’s South - CG Property & Savills
National Training Provider continues to call Metroplex Home - CG Property Group
Mapletree delivering much needed logistics supply to Southeast Queensland
Important Information:
Contact details:
Mark Gilbride
CG Property Group
0410 985 573
Email
11598
11510
Mark Gilbride
Michael Callow
CG Property Group
0417 147 528
Email
11598
11479
Michael Callow
