A new industrial development in the growing City of Logan in Queensland, south of Brisbane, will go ahead after receiving development approval for its first stage.

The project, called Transit Industrial Estate in Park Ridge, is being undertaken by Andreatta Developments.

Stage 1 will take shape on a 4.22-hectare portion of a circa 16-hectare site at 298 -308 Park Ridge Road and 1-40 McLeod Road.

Transit Industrial Estate will include nine small lots ranging in size from 2011sq m to 8494sq m with the potential to combine some of the lots pending demand.

The developer will retain the land and lease space in the development, starting with the construction of three spec warehouse/office facilities sized at 3,100sq m, 2,800sq m (split into two tenancies) and 1,100sq m.

The facilities will be up to 12 metres high, with good clearance, wide awnings and truck manoeuvrability.

Knight Frank agents David Knox and Sam Harper and JLL agents Harry Homan and Freddie Donne have been exclusively appointed to coordinate the marketing of this premium estate.

Clearing of the site is about to begin, with expected completion of operational works in the first quarter of 2024 and practical completion of three standalone industrial properties expected in the third quarter of next year.

Andreatta Developments is an experienced developer, with a number of existing developments and stabilised assets across South East Queensland.

Andreatta Developments Development and Leasing Manager Scott Naude said the 16-hectare site on which the Transit Industrial Estate would be located had been amalgamated following the purchase of land from 17 separate owners.

“The process of acquiring the land took around eight months, and we had to be flexible with terms to get the deals done,” he said.

“Coming off the success of a previous industrial project in Brisbane due to the strength of the market, we wanted to reinvest and we identified this growth location as being ideal.

“One of the major attractions of this development for industrial users is that it is code assessable, which means turnaround times for building warehouses on the land will be significantly faster.

“This means we can cater for the current demand in the market by alleviating some of the undersupply in a faster timeframe.

Mr Knox said the industrial property market in the Park Ridge/Crestmead area had experienced unprecedented growth and interest over the past few years, following the success of MapleTree and Goodman’s logistics estates, and PointCorp’s land subdivision.

“Demand for property in Transit Industrial Estate is expected to be strong, given the ongoing imbalance of demand and supply in Queensland’s industrial market,” he said.

“The Brisbane southside industrial leasing market continues to be highly sought after, with almost no existing stock available for lease.

“Modern properties of less than 2,000 square metres are consistently achieving rates of $150 per square metre plus, with the market showing no signs of slowing down.”