Centennial has completed a speculative new build logistics development – The Link Industrial Park – at Willawong in Brisbane's inner south in collaboration with joint venture partner, MaxCap Group.

Built by McNab, the $100 million industrial park comprises 32,542sq m of gross lettable area across three new 5-Star environmentally sustainable designed (ESD) warehouses featuring nine tenancies and hardstand areas with two tenancies leased during construction.

Taking advantage of internal ceiling height clearances up to 13.7m, 6-metre-wide roller doors and all-weather docks is global transportation giant FedEx Logistics, which has committed to a 2,690sq m tenancy over a long term lease in a deal brokered by Harry Homan of JLL.

Joining FedEx Logistics is Australasian hotel and resort hospitality supplier, Vendella which has signed a 5-year lease for a 1,441sq m warehouse and office tenancy that was brokered by FAL Group's John Andrew.

Michael Richardson and Michael Callow of CG Property and Jack Hardy and Peter Turnbull of CBRE are the appointed leasing agents.

Completion of the Link Industrial Park represents an additional strategy from the national fund manager and developer's traditional business model of regenerating underutilised or vacant mid-space warehouses in last-mile or urban industrial infill regions and transforming them into institutional grade assets. 

Having acquired and developed a portfolio of 63 industrial assets worth more than $1.3 billion in just six years, Centennial's Head of Property Funds, David Cupit said, "The Link Industrial Park presented an excellent opportunity to partner with MaxCap to develop an institutional grade, mid-space logistics estate in a highly land constrained infill region.  

"Bordering Acacia Ridge, which is widely regarded as the inner-south's industrial heartland there has been no let-up in demand for last mile industrial sites," Mr Cupit said.  "That demand is now pushing into neighbouring areas such as Willawong which is establishing itself as an industrial hub in its own right." 

Evidence of the drawing power of the region can also be traced by the number of larger industrial players that have set down roots in Willawong or nearby, including Charter Hall, ESR, Fife Capital, Frasers and Stockland.    

"Centennial is pleased to have delivered an institutional grade industrial and logistics project to the local area and particularly for businesses seeking mid-space tenancies of between 1,500 to 14,500sq m," Mr Cupit said.

"The Link's connectivity to major road, rail, port infrastructure networks including the Gateway, Logan and Ipswich Motorways all within 10 kilometres will be key drivers in filling the remaining tenancies that offer direct access to Brisbane's port, airport and interstate road and rail freight networks."

Mr Cupit concluded by adding Centennial was poised to emulate the success of The Link Industrial Park with the group having recently started construction on another speculative build in Brisbane's northern industrial hub of Geebung. 

The 16,300sq m Geebung Industrial Park is being developed in partnership with KKR. 

Stage one of the project is expected to be completed in Q3 2024 and will also deliver a range of 5-star ESD initiatives and A-grade tenancies ranging from 2,500sq m to 13,600sq m in size, with Stage two due to commence Q3 2024 delivering a further 9,010sq m of institutional-grade industrial space. 

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