Stora Enso chooses Port of Brisbane as new Queensland base
Stora Enso, a leading provider of renewable wood and bio material products with world-wide operations, has pre-committed to a 5,950sqm purpose-built warehouse facility on a 1.8 hectare site within the Port of Brisbane’s Port West logistics estate at Lytton, Brisbane.
Port of Brisbane Pty Ltd (PBPL), CEO Roy Cummins welcomed Stora Enso to the estate and confirmed construction would commence within a fortnight.
“The Port West location – particularly its proximity to the Port of Brisbane’s container terminals and wharves – will enable Stora Enso to significantly reduce its transport logistics costs,” said Mr Cummins.
“As a master-planned estate, Port West allows flexibility in lot sizes and configuration, connectivity and 24/7 capability, which meant we were able to meet Stora Enso’s specific requirements.
“Port West’s strategic location means it is increasingly becoming a site of interest to businesses with a local, national and international footprint.”
Stora Enso’s Managing Director Matthew Wood said: “The decision to select the Port West site was principally made due to the location’s proximity to the port and the associated logistics benefits, which will significantly reduce the cost of our freight movements.”
Anthony White and Matthew Frazer-Ryan of Colliers International negotiated the lease along with Mark Byrne of Equimax Property Solutions, who represented Stora Enso.
“Stora Enso chose the Port West site over a number of other development and existing site options in north Brisbane and the TradeCoast precinct,” said Mr White.
“Over the last two years, we have seen the gap close in rental costs between TradeCoast and north Brisbane. Port West was the obvious choice when considering the competitive offer put forward by Port of Brisbane together with the significant logistics cost-savings the location offered.”
Mr Frazer-Ryan said: “Whilst there remain several well located and sizable land holdings to accommodate larger occupiers, the land supply benefits which the Port of Brisbane can provide remain unique in the market. Particularly when larger occupiers are looking for scale and a development partner that can accommodate future growth and expansion requirements.”
Construction of the new facility is being undertaken by FKG on behalf of PBPL (owner and developer), with occupation prior to end-2017. The site will be designed for the import, storage and distribution of timber products and will include over 8,000sqm of hardstand.
Port West Estate is located on Radar Street in Lytton, ideally positioned 6km from Port of Brisbane and 5km from the Gateway arterial network, making it one of the most desirable and connected logistics estates in Brisbane and South-east Queensland. The estate has further opportunities for design and construct lease arrangements.
According to the latest Colliers International research, take-up of industrial land is anticipated to pick up during 2017 as business sentiment gradually improves. On average, serviced land in Australia TradeCoast appreciated 10.3 per cent over the last year, with allotments sized 2000sqm to 5000sqm ranging from $300/sqm to $500sqm.