Stockland will buy two sites in Brisbane as part of a strategy to boosts its exposure to the logistics sector

A leading Australian property group has increased its exposure to the logistics after exchanging contracts to buy two development sites Brisbane.

Stockland is eyeing opportunities in the logistics sector.

AN ASX-listed property giant will buy two sites in Brisbane’s logistics “Golden Triangle” as part of a reweighting strategy towards quality income-producing assets in the sector.

Stockland has executed conditional contracts with the Sydney-based Fife Group to buy the development sites at Carole Park and Richlands.

Brisbane firm Siecap helps corporate clients service their customers faster

$33m Toll Gold Coast logistics hub launches at Arundel, capable of delivering 11,000 parcels a day

LOGOS has secured IPS Logistics on a long-term leasing deal at the growing Port of Brisbane Logistics Hub

The company did not release the address of the sites but they are believed to be a 10ha property at 39 Silica St, Carole Park, and facility at 787 Boundary Rd on the border of Darra and Richlands.

Separately, Stockland has entered into a joint venture arrangement with the Fife Group in western Sydney.

The joint venture will include the development of more than 70ha of prime logistics facilities across the combined land interests of Stockland and the Fife Group

Stockland managing director Mark Steinert, said the transactions will further increase the company’s weighting to quality logistics assets.

“These transactions align with our strategy to acquire income-producing logistics assets along

Australia’s eastern seaboard, growing our portfolio and enhancing income resilience across the

commercial property business,” he said.

39 Silica St, Carol Park.

Stockland general manager — Workplace & Logistics, Tony D’Addona, said: “The Carole Park and Richlands properties are located in Brisbane’s logistics ‘Golden Triangle’, an area

bordered by the major arterial routes of Ipswich Motorway, Logan Motorway and Gateway-Pacific Motorway.

“This area continues to show positive demand fundamentals driven by infrastructure

investment and population growth — we’ve seen leasing activity at levels well above the five year average over the last two financial years.”

The development of the Carole Park facility, which has already commenced by the Fife group, will include the delivery of three buildings totalling more than 59,000sq m, with one of the buildings already pre-leased.

The Richlands facility will undergo redevelopment works once Stockland takes ownership.