Centennial Raises the Roof with new Industrial & Logistics Park
Burndy Cable Support Systems will bring three Brisbane sites under the one roof after signing a 9,200sqm precommitment at Centennial’s Acacia Ridge Industrial Park.
20 May 2022
Burndy CSS, a national leader in commercial construction applications, has signed a 10-year lease over the 131 Beenleigh Road facility to accommodate growth associated with an increase in Australian infrastructure projects.
CBRE Industrial & Logistics Associate Director Jack Hardy said the deal facilitated a long-awaited site consolidation for Burndy CSS, which originally went to market in late 2020 to amalgamate its three existing Acacia Ridge warehouses to support growth related to an increase in Australian infrastructure projects.
“The sticking point at the time was that Burndy wanted to stay in Acacia Ridge given the area’s proximity to both its existing customer and employment base and surrounding road infrastructure, but no suitable options were available,” Mr Hardy said.
“That all changed in 2021 when Centennial acquired Acacia Ridge Industrial Park last year – seizing an opportunity to repurpose an existing 4.7ha estate at below land value, in one of Brisbane’s oldest but most sought-after industrial markets.
“While land shortages have led to a lack of new industrial developments in Acacia Ridge, Centennial has adopted a highly innovative approach and been able to repurpose rather than knock down and have lifted the roof on the existing warehouses by five metres to 11.2m in order to suit occupier requirements – something that hasn’t been done before in the Queensland market.”
CBRE’s Jack Hardy, Peter Turnbull & Myles Clensmith introduced the Burndy CSS commitment, which is the first since Centennial acquired the property and relates to the largest tenancy in the development, significantly de-risking the project.”
Centennial Executive Director and CEO Paul Ford said the new leases were pivotal in the continued delivery of Centennial’s “land rich, mid-space” strategy.
“The Burndy CSS commitment has proven the current market’s strong appetite for flexible, infill/last mile industrial and logistics facilities and Centennial’s ability to innovate,” Mr Ford added.
While the Burndy CSS rental has not been disclosed, market rents in the area range between $100/sqm and $120/sqm.
The freestanding facility includes a 200sqm office and a large, dedicated hardstand and yard for external storage purposes.
As an added benefit, the estate is close to Beaudesert Road and the Ipswich and Logan Motorways.
Approximately 14,000sqm of space is still available for lease, with an estimated mid-year practical completion date.
The 4.66ha estate is situated in Brisbane’s inner ring industrial precinct, 30km south-west of the Port of Brisbane, 27km south-west of Brisbane Airport,13km south of the Brisbane CBD and 1km north-east of the Acacia Ridge (Linfox) freight terminal.
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