Stockland has continued to grow its Queensland logistics portfolio, securing three new 10 year leases at the $70 million Yatala Distribution Centre, where the company recently completed Stage 2 of its latest logistics development.
The development at the new 9.6 hectare Yatala facility comprises three stages and over 43,000 square metres of tenancy floor space, located in the sought after corridor between Brisbane and the Gold Coast with direct access to the M1 Pacific Motorway.
Stockland has leased over 18,993 square metres of the new facilities to three local Queensland businesses - Simtech Creations, Crimsafe Security Systems and OzWide Group. A further 9,000 square metres remains available for lease.
Tony D’Addona, General Manager Logistics and Business Parks at Stockland, said: “We are committed to rolling out key projects in our national $4.3 billion workplace and logistics development pipeline, creating flexible and efficient new facilities for our tenants in locations that are conveniently located with access to major roads and connected to major cities.
“Demand for logistics space in Queensland’s south-east industrial precinct remains very strong, with vacancy rates 28 per cent lower than this time last year.
The Yatala Distribution Centre offers modern efficient warehousing including high volume minimum 11 metre racking heights, 12 metre all-weather awnings and high impact zoning to allow 24 hour operation. The building design also includes energy and water saving initiatives such as solar water heating, energy efficient lighting, native landscaping and rainwater collection for irrigation.
Tony D’Addona continues: “We are proud to not only deliver first class industrial buildings but also to invest in the local community, boosting jobs and providing facilities that will service local businesses looking to grow.”
Construction was undertaken by local contractor McNab and saw $30 million invested[i] in the local economy during the construction phase, with around 90 local jobs created, including the majority of suppliers sourced from the Brisbane and Gold Coast regions.
Michael McNab, McNab Managing Director said: “We’re delighted that Stockland chose McNab again as their delivery partner, and along with our local subcontractors our team delivered these buildings on schedule and to an extremely high quality standard. We know the new tenants will be very impressed with their new facilities”.
Stockland’s Workplace and Logistics development pipeline now sits at $4.3 billion, with development projects currently underway at Willawong in Brisbane, Ingleburn in Sydney, and Melbourne Business Park in Truganina.
Stockland recently announced the completion of Key West Distribution Centre, a $44 million facility in Truganina, Melbourne – with the asset fully leased on completion of the project. In December 2019, Stockland received development approval for the first stage of its $500 million redevelopment at Macquarie Park in Sydney, M_Park, which is expected to commence construction mid to late this year.
Stockland’s also owns and manages a national logistics portfolio which includes 29 assets, with a total value of $2.8 billion.
[i] Total project value including GST – provided by Mcnab