Inghams to consolidate operations in design/construct leasing deal in the Australia TradeCoast precinct

IN one of the bigger industrial deals for 2017 Australia’s leading poultry company Inghams Group Ltd will consolidate a number of its operations under the one roof in Brisbane’s eastern suburbs.

CONSOLIDATION: The former Berri fruit juice manufacturing facility at 102 Trade St, Lytton, which Fife capital bought last year and will be occupied in 2018 by Inghams.

IN one of the bigger industrial deals for 2017 Australia’s leading poultry company Inghams Group Ltd will consolidate a number of its operations under the one roof in Brisbane’s eastern suburbs.

The ASX-listed company, which is controlled by private equity giant TPG Capital, has secured a long-term lease at 102 Trade St, Lytton, in the Australia TradeCoast precinct.

It is understood Sydney-based fund manager Fife Capital, which bought the property last year, is currently completing an extensive fitout including building a large cold room.

An Inghams spokeswoman confirmed the design/construct deal at 102 Trade St would ensure a purposely built state-of-the-art facility to suit the company’s requirements.

“The new site will enable us to consolidate a number of others sites in the Brisbane area under the one roof by 2018,” she said.

Sources say Inghams will be paying about $230/sq m for an annual rental bill of well over $3 million.

Blue Commercial’s Gary O’Shea struck the deal but refused to comment and Fife Capital did not return phone calls.

The property was the former Berri fruit juice manufacturing facility and is the closest freehold industrial land to the Port of Brisbane. It was purchased vacant possession by Fife for $14.5 million.

The 14,479sq m office/warehouse and process facility is on a 4.38ha site across three lots with more than 270m of frontage to the Port of Brisbane Motorway.

Inghams is one of largest producers of chicken and turkey products in Australia and employs more than 9000 people in more than 100 locations in Australia and New Zealand.