Savills, in conjunction with Colliers, have been appointed to market the last remaining tenancies, including 33,591 square metres of buildings branded as Virginia Park Estate located at 153 St Vincent’s Road. 

The buildings range from 2,304 square metres to 3,358 square metres and provide excellent racking volumes accessed both by on grade and recessed loading docks.

At a glance:

• Flurry of leasing activity at Virginia Park Estate with only three of nine facilities remaining available for lease
• Buildings still to be leased range from 2,304 square metres to 3,358 square metres
• Recent leasing deals have translated to $60 per square metre net

Director of Savills Industrial and Logistics, Shaw Harrison, said there had been a strong level of enquiry on the remaining buildings at the 9.2-hectare industrial warehousing facility located in Virginia, 10km north of the Brisbane CBD. 

He said there had been enormous enquiry across the estate given its proximity to major road networks, the airport and surrounding Northern and Trade Coast industrial precincts.

 “We have only three out of the nine buildings remaining for lease within the estate, and with high demand we don’t anticipate they will last much longer,” Harrison said. 

“Whilst the buildings are of older construction with timber columns and webbed trusses, they are still highly functional warehouses with good clearance.” 

Recent tenants to the estate secured by Savills includes IJS Logistics, The Buckner Group and Johnny’s Furniture, comprising of a combined area of 8,503 square metres at leasing rates over $60 per square metre net. 

Harrison said that tenants had taken advantage of some of the most affordable rental rates in all of Brisbane to secure leases for up to five years each.

“Tenants were also drawn to the competitive price point for fully sprinklered stock with the buildings acquired representing exceptional value amongst the market,” he said. 

“There is up to approximately 20,000 square metres of additional hardstand available for lease so we expect tenants with external hardstand storage requirements will find this site ideal.”

The industrial estate was the previous home of Amart furniture, who occupied the Estate for 17 years.

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