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News release

BRISBANE

First quarter strong with three new leases in Brendale for JLL


JLL Industrial marks a very strong start to the year, finalising three leasing deals in Brendale over the first quarter of 2016.

The three leases, at 36 French Avenue, 1/19 Hinkler Court and 6 Bult Drive, represent the growing demand for premium property in Brendale, a largely industrial suburb just north of Brisbane which offers significant appeal to industrial tenants due to its close proximity to major arterial roads, strong population growth, existing labour force and overall affordability. ​

All three were negotiated by JLL Senior Executive Nick Bandiera; and represent a total of 3,644sqm.

The first, at 36 French Avenue, was taken up by international operator Fuelco, whose strong business growth has driven expansion into the 1,167sqm freestanding office and warehouse property on the 2,380sqm allotment. The 2 + 5 year lease was finalised at $141,235 net.  

Faiveley Transport Australia, an internationally based transport company who recently won two contracts with Queensland Rail, will now call 1/19 Hinkler Court home, in what will be their first move into Queensland. The parent company of NYSE Euronext listed Faiveley Transport; Faiveley will take up the 986sqm space over 5 + 5 years at $120,000pa net.

Finally, Ausray Group will set up their second Brisbane distribution facility at 6 Bult Drive, a 1,509sqm modern office and warehouse, after strong business growth led them to seek an additional property for their operations. Signing a 5 + 5 year lease at $165,990pa net, the company was attracted to the location for its accessibility.

Mr Bandiera said with a growing demand for property in the area, Brendale offers the right fundamentals for investors seeking to broaden their portfolio in the growth corridor.

"High demand and a limited supply of quality industrial leasing stock in the area presents an excellent opportunity for developers or investors to start considering the option to buy prime industrial land at unrivalled pricing and deliver new A-grade facilities. The precinct was the economic engine room for the Moreton Bay region and is already being considered a viable location for large industrial occupiers including Super Retail Group's 48,315sqm DC and ALDI's new 50,000sqm DC," he said.