31 Oct 2019
BRISBANE, 31 OCTOBER 2019
Frasers Property Industrial has exchanged contracts to acquire a 65-hectare prime industrial site from Seymour Group, taking its industrial land holdings and developments in the area to 90-hectares.
The land parcel is located on Stapylton Jacobs Well Road in Queensland’s Yatala region. It is also within three kilometres from Frasers Property’s industrial development, Yatala Central.
Ian Barter, General Manager Northern Region for Frasers Property Industrial, comments, “This acquisition aligns with our strategy to secure significant land holdings in core markets that are within close proximity of major infrastructure. The Yatala area will continue to benefit from the expansion of both Brisbane and Gold Coast regions. We see this region consolidating its position as one of the major distribution hubs for South East Queensland.”
Troy Whalan, General Manager Queensland for Frasers Property Industrial, noted, “We have already had great success in Yatala over the past four years attracting major transport and manufacturing companies such as O-I Glass, Beaulieu Australia, Oji Fibre Solutions, Reward Hospitality and Schutz Australia. More than 70 per cent of the development phase in Yatala Central has now been completed.”
He added, “Demand is very high in the region as a direct result of strong population growth, a critical shortage of serviced industrial land and major road infrastructure projects including the recently completed Transurban Queensland’s Logan Enhancement Project.
“This purchase further restocks our Queensland landbank in a highly sought-after industrial area and will help us maintain our strong presence in the region having already developed over $137 million1 worth of institutional product in the region.”
Adam Wills, Director at Industrial Space, comments, “The Yatala region continues to grow as one of South East Queensland’s major industrial and logistics hubs. Expansion will continue in line with population and infrastructure growth in the southern corridor between Brisbane and the Gold Coast.”
Masterplanning has started and Frasers Property Industrial expects to bring stage one to the market by the middle of 2020 with estimated delivery for this part by Q1 2021. The estate will feature pre-lease development, land and build packages as well as selective land sales.
The new site will accommodate up to 300,000 sqm of built form, enabling Frasers Property Industrial to service existing and new customers. National supply chain and logistics, light manufacturing and warehousing companies are expected to be attracted to the new estate.
Adam Wills from Industrial Space brokered the transaction.
1 Completed product delivered in Yatala Central from July 2016 until July 2019.