Logistics the queen in Queensland
A huge new logistics complex is set to be built in Logan City, south of Brisbane, over the next five years. The first phase of the logistics park is expected to be completed by December. The Logan City Council has predicted that the future ‘Crestmead Logistics Estate’ will create up to 6,000 new jobs.
Brisbane is often overshadowed somewhat by Sydney and Melbourne, the pre-eminent Australian metropolises. The capital of the federal state of Queensland will soon no longer have to be too modest, however, at least not in the logistics field, as one of the largest logistics projects on the country’s drawing boards was launched recently in Logan City, a Brisbane suburb.
200,000 m² by the end of the year
Pointcorp, an Australian real estate developer, will build the Crestmead Logistics Estate over the coming five years, for Colliers International and Cushman & Wakefield. In the end the compound, named after the suburb it is in, will cover 650,000 m² and be home to warehousing, logistics as well as production facilities. Total investments in the project, which has been divided up into several segments, with different investors taking charge of each field, stand at AUD 1.5 billion (EUR 911.2 million).
The first facilities are due to be completed by December and will offer about 200,000 m² of logistics area. The project is being developed by Mapletree Investments, from Singapore, which bought the 36 ha plot concerned for AUD 90 million (EUR 54.6 million) last year.
The mayor is thrilled
The undertaking is of major importance to Logan City, with mayor Darren Power calling it “a game-changer for South East Queensland” during a recent visit to the site. “The Crestmead Logistics Estate’s thousands of potential jobs show how attractive Logan is for investors,” he said. The city has developed into strong transport and logistics interface over the years, and he expects this trend to continue. There are already several logistics facilities north of the new compound, which shows that it is becoming something of an industry cluster.
It’s a mere 7 km to the next motorway, which is one of the locations key advantages. If the Park Ridge connector corridor is built, then the logistics cluster’s links to road networks will be even better. Said road has been designed to handle the area’s new traffic flows and feed them directly into the motorway. Even though the developers already feature the new connector road on their plans, it hasn’t actually been decided yet whether it will be built. The road has already been under discussion in the greater Brisbane region for ten years now, and local resistance, including efforts to protect the environment, is extensive.
At least the launch of construction for the future Crestmead Logistics Estate shows that investors are interested in the area with its current traffic configuration too, and are convinced of its locational advantages even without the new road.
