Acquisitive investment and development group Logos Property has made another strategic foray into the Queensland industrial sector by acquiring a customised warehouse and logistics complex located at 1-5 Bishop Drive, Fisherman’s Island for between $60-$65 million.
Comprising five existing warehouse office buildings, the site also has vacant land attached that can cater for up to 30,000 sqm of further new accommodation.
Located at the Port of Brisbane on the corner of Bishop and Lucinda Drive, the IPS Logistics facilities provide outstanding warehouse transport and logistics solutions to occupiers reliant on import and export product shipped via the Port of Brisbane. The proximity to the port and major arterial networks servicing South East Queensland will ensure substantial transport savings for operations on site.
IPS Logistics CEO Steve Brown said: "The Logos partnership brings together many synergies focusing on innovative logistics solutions underpinned by unique development opportunities, logistics capability efficiency and expertise at a location that is unsurpassed in Australian port operations.
“Where else in an Australian port can the customer have their container collected and transported to 70,000 sqm of warehousing for unpacking and storage 500 meters from the wharf, then redelivered to Sydney or North Queensland without stopping at a traffic light."Logos Property is a specialist development and investment manager with a sole focus on logistics real estate. Established in 2010, their platform now extends through the Asia Pacific region with a leading position in large warehousing developments. Macquarie Capital acquired a strategic interest in Logos in 2014 and the group now has over $800 million of assets under management.
The deal at the port, believed to be struck at between $60 million-$65 million, was introduced to Logos Property by Ray White Director of Industrial Transactions, Graham Norris.