Visa Global Logistics, one of Australia’s largest privately owned international freight forwarding companies, is moving their operations to Port of Brisbane after committing to a 10 year lease for a newly developed purpose built facility.
Port of Brisbane, who own the 1.86 hectare site, have developed a purpose built facility for Visa Global Logistics that includes a 350sqm office, 2,500sqm high bay tilt panel warehouse and over 7,000sqm of 125 tonne rated container hardstand. Construction was completed in early January with Visa now having relocated to the new facility.
Matthew Frazer-Ryan, National Director of Industrial at Colliers International was appointed by Visa Global Logistics to investigate sites in Brisbane. Mr Frazer-Ryan said that during this process, Port of Brisbane was identified as the ideal location.
“Visa Global Logistics were driven to relocate due to the a lease expiry at their Acacia Ridge facility, and were looking for a location near the Port of Brisbane to accommodate their container transport handling and logistics business.
“The subject site which is located at Howard Smith Drive within the Port Gate Estate was ideal as it provides direct access to their localised distribution network, Port of Brisbane wharfing terminals and the Port of Brisbane Motorway. Importantly, the Ports willingness to provide high productivity vehicle use approval was pivotal in Visa’s decision to relocate to the Port of Brisbane.”
Mr Frazer-Ryan explained that once the site was chosen, Visa Global Logistics appointed a development consultant Mark Byrne of Equimax Property Solutions from Melbourne to drive the design specification and lease agreement process.
“Colliers International continued to negotiate through the design requirements, development timeframe needs and legal documentation to finalise the execution of the lease agreement and the term.”
Visa and the Port of Brisbane have worked closely together during the build phase, with the Port delivering the facility both on time, and to build quality which exceeded Visa’s expectations.
According to Mr Frazer-Ryan design and construct transactions for most of 2015 were relatively subdued. “However since the tail end of the year we have seen several major occupiers conduct a market search for new sites to have purpose built facilities developed on their behalf.
“Whilst the competition from the development groups remains fierce, this will continue to provide appealing financial opportunities to the occupier groups and the chance to reset their building footprint to cater for modern supply chain and logistics requirements.”
Looking for more real estate insights? Get the latest property news.
Looking for commercial real estate? Try our property search or connect with expert commercial real estate agents today.