Frasers Property Australia expanded its landbank in Berrinba by acquiring a 44,580 square metre site from Logan City Council, situated within South West 1.
Located at 43 – 51 Kellar Street and 171 – 183 Wayne Goss Drive, Frasers Property planned to develop the land parcel over the next 12 to 18 months.
Frasers Property Northern Region General Manager Ian Barter said the company saw the site as an excellent opportunity to restock their landbank within Berrinba, following successful developments at Berrinba Logistics Estate and South West 1.
"We are currently developing investment product with an estimated value of $55 million on completion in South West 1, with commitments from National Tiles and Avery Dennison," he said.
“We believe the region will continue to attract strong interest from major logistics, transport and warehousing groups seeking A-Grade distribution facilities, which is what we are delivering.”
Logan City Council City Image Chairperson Councillor Laurie Smith said the city was fast becoming the first choice for the transport and logistics sector because of its excellent connectivity and accessibility to key transport infrastructure.
“Combined with competitive land prices across our city, major players in that sector have recognised the strategic sense in locating themselves in the middle of the rapidly growing South East Queensland region.
"The South West 1 development in Berrinba was created by Logan City Council to draw investment and jobs to the city.
“Frasers Property has a proven track record in delivering successful developments in Berrinba and this recent acquisition, only demonstrates the value potential that a national company of its scale sees in the area," Cr Smith said.
Savills, who negotiated the deal on behalf of the Logan City Council, said there was a shortage of quality land along the Logan Motorway corridor, and as a result Berrinba was becoming a primary logistics hub.
Berrinba's development future is also expected to benefit from the works upgrading the Wembley Road interchange, which is part of Transurban Queensland’s $512 million Logan Enhancement project, approved by The Queensland Government.
The new acquisition is approximately 500 metres south of the facility that Frasers Property is currently developing within South West 1. South West 1 was created by Logan City Council.
The new acquisition makes Frasers Property one of the largest land holders and developers within the estate.