The tenant will occupy a 3,619 sqm design-and-construct facility on a 6,068 sqm site from practical completion in March 2027, paying net annual rent equivalent to $324 per sqm plus outgoings and GST. The lease also includes two further five-year options.
The facility will comprise approximately 3,200 sqm of warehouse space, 300 sqm of office accommodation and a 119 sqm mezzanine, together with dedicated concrete hardstand and B-double truck access.
The lease at 650 Boundary Road was negotiated by Cushman & Wakefield’s Daniel Billiau and Flynn Stewart, with the property including specialised improvements such as HVAC throughout, calibration laboratories and anti-room facilities will be incorporated into the building, alongside a minimum nine-metre internal clearance and a 10-metre awning over the roller doors for all-weather loading.
Cushman & Wakefield Associate Director, Brokerage Logistics & Industrial – Queensland Daniel Billiau said the long-term commitment demonstrated the strength of occupier demand for new, purpose-built industrial accommodation.
“Large corporate and international occupiers are increasingly focused on securing facilities that can be designed around their specific operational requirements rather than compromising on existing stock.
“A 10-year pre-lease is a significant commitment and demonstrates the confidence sophisticated occupiers continue to have in Brisbane’s western industrial corridor.
“Richlands remains one of South East Queensland’s most established logistics markets, and we continue to see strong demand for high-quality facilities with immediate access to major transport infrastructure.”
Cushman & Wakefield Executive, Brokerage Logistics & Industrial – Queensland Flynn Stewart said the combination of the facility’s specialised design and strategic location had been critical to the transaction.
“This is a highly bespoke facility that has been designed around the tenant’s operational requirements, from the calibration laboratories and HVAC through to the hardstand, B-double access and all-weather loading.
“Boundary Road also provides excellent connectivity to both the Ipswich Motorway and Centenary Highway, giving occupiers efficient access across metropolitan Brisbane and into the broader national freight network.
“The combination of location, functionality and a purpose-built solution made this an attractive long-term proposition for the tenant.”
Richlands is home to a concentration of major corporate occupiers including Coca-Cola, Linfox and Target, reinforcing its position as one of Brisbane’s key logistics and industrial precincts.
