GPT purchases South East Queensland site with potential to deliver 85,000sqm of new logistics facilities

01 July 2015

The GPT Group (GPT) today announced the purchase of 21 hectares of industrial land South East of Brisbane for $23.2 million.
The two land parcels, which are located on Wembley Road in Berrinba, have been purchased from Logan City Council. The land has the potential to deliver up to 85,000sqm of gross lettable area.
The site is zoned for a mix of industrial and commercial development and is well located with direct access to the Logan motorway. It is also in close proximity to the $94.5 million state-of-the-art facility that GPT has developed for Toll Transport, which opened last year.
GPT's Head of Development Commercial and Industrial, John Thomas said the industrial site was a strong addition to the group's [$440] million logistics development pipeline.
"GPT is delivering $285 million of new industrial facilities this calendar year, including two major cold storage facilities at Erskine Park in Sydney's West, the second of which reached practical completion last week," Mr Thomas said.
"This acquisition will help replenish the development land bank and delivers GPT additional opportunities in what is a key road freight link between Brisbane and the Gold Coast," Mr Thomas said.
"GPT continues to build its logistics development pipeline, which allows the group to grow the portfolio organically and create new product, without having to necessarily purchase assets in a highly competitive market."
The transaction was brokered by Callum Stenson of Savills.
ENDS

For further information contact:

Brett Zarb
Group Media Manager
02 8239 3979
0417 256 563

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