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CouriersPlease Leases $40 Million Salisbury Site

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Singapore Post subsidiary CouriersPlease has committed to a 10-year lease over a $40 million distribution facility in the southern Brisbane suburb of Salisbury.

The $40 million, 11,800 sqm facility on Evans Road was Singapore Post's first investment in Australia.

Singapore Post, which is backed by online wholesaling giant Alibaba, acquired CouriersPlease just over a year ago for $100 million.

CouriersPlease chief executive Brian Roberts said it was a long-term investment by his company in the Brisbane economy.

"Our business has grown significantly over recent years both in Queensland and interstate," he said, according to The Brisbane Times.

"This new warehouse will not only provide new capacity for the next 15 years, it will lead us through the transition of the courier industry through e-commerce, supply chain visibility and information sharing."Private property owner Gus Lehrer will own the new facility.

Earthworks on the facility have started and the project is expected to be completed by September this year.

CouriersPlease currently occupies a facility in Coorpooroo.

 

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Article originally posted at: https://theurbandeveloper.com/articles/couriersplease-leases-40-million-salisbury-site