Steelforce, Queensland Glass sign lease deals for Port West Estate
COMPETITION is expected to heat up for space at a yet-to-be built Port of Brisbane industrial site, following precommitments from two local companies for state-of-the art office/warehouses.
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THE Port of Brisbane’s newest industrial estate will ramp up construction after securing precommitments from two local companies for state-of-the art office/warehouses.
Steelforce and Queensland Glass have 10-year and seven-year leases respectively for the yet to be constructed buildings at the Port West Estate that will be delivered by the Port of Brisbane.
Port of Brisbane chief executive Roy Cummins said Port West was no longer the southeast Queensland’s industrial sector’s “best kept secret”.
“The secret’s out, and we expect competition for prime industrial property sites at Port West to heat up in the coming months,” he said.
“We’re delighted to welcome Queensland Glass and Steelforce to the Port of Brisbane. These are two well-regarded, cutting edge businesses.
“No doubt a key selling point for both transactions was the significant logistic benefits all businesses can gain by being in proximity to the world-class supply chain infrastructure we have at the Port.”
Steelforce has a 36,000sq m site at 7 Radar St, Lytton, with plans for a 16,00sq m office/warehouse and 5600sq m awning in a deal struck following a 12-month search by Colliers International’s Anthony White and Simon Beirne.
The property will become Steelforces’ head office and the site of its steel warehousing operations. There is also provision for future warehouse expansion of almost 1700sq m.
Queensland Glass, which is currently at a facility in the Rivergate Industrial Park at Murarrie, has secured a 15,400sq m site at 8 Radar St with plans for a 7600sq m office/warehouse after a deal by CBRE’s Chris Davis.
The companies will join pulp and paper manufacturer Stora Enso and a Bunnings distribution centre in the estate.
According to industry sources they will be paying between $120/sq m and $130/sq m.
Steelforce chief executive Rod Corkill said the precommitment came after an extensive review which narrowed options to the Port precinct.
“Our move will impact favourably for both our staff and our customers, with a more efficient footprint, better amenities and increased capacity to handle anticipated higher demand,” he said.
Queensland Glass managing director Nigel Mills said most of the company’s materials were imported through the Port of Brisbane so being near the wharf made perfect sense.
“Over the coming years, we expect to see significant logistics cost savings and this, along with a purpose designed and built facility, was a major attraction,” he said.
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