Frasers Property Australia (formerly known as Australand) has secured glass container manufacturer, Owens-Illinois as its first tenant in Yatala Central, a 40 hectare industrial estate in the heart of Yatala’s enterprise area just off the M1 motorway.
Owens-Illinois has leased a 6.75 hectare site, comprising a 30,000 sq m warehouse and office space covering 400 sq m over one level and valued at over $32.5 million.
Yatala Central will comprise over $175 million in industrial office assets when completed late in 2019.
Troy Whalan, General Manager New Business, Qld for Frasers Property Australia said: “Yatala Central is strategically located within close proximity to the toll free M1 motorway and between two of the largest cities in Queensland - Brisbane and the Gold Coast.""It provides opportunities for a range of industries that service this major growth hub which has experienced exponential population growth in recent years."“Yatala is one of Queensland’s fastest growing prime business and industrial precincts and has already attracted many well-known companies including Caterpillar, Visy, Woolworths, VIP Pet Foods, Carlton and United Breweries and ALDI.”
He added: “We are currently in negotiations with several companies looking to join Owens-Illinois in Yatala Central to utilise the warehousing, logistics and light manufacturing facilities.”
Owens-Illinois is moving its principal finished goods warehouse from Acacia Ridge to Yatala and will create one major distribution warehouse to service demand for its glass containers across Australian and overseas markets.
The 40 hectare estate is located on the corner of Pearson and Peachey Roads in Yatala. Construction commenced in September 2015 and site works for stage one will be completed in mid 2016.
Owens-Illinois Glass is expected to move into its new site in the third quarter of 2016. It is currently the world’s largest and leading glass container manufacturer, located in 23 countries with over 22,500 employees.