- Centennial gains Development Approval (DA) for stage one of 12.2ha master-planned ‘Riverview Industrial Park’ at 103 Riverview Road | 31.5km from Brisbane CBD & 11km from Ipswich | at the junction of Warrego, Ipswich and Cunningham highways
- Site acquired in 2023 for $38.5m by Centennial EVP fund | end value ~$130m
- Stage one offers 5 warehouses + hardstand over 19,400sq m | completion due Q3 ’26
- Site close to major distribution centres housing Australia Post, Coles, FedEx, DB Schenker
- Builder: Vaughan Constructions | Leasing agent: Harry Homan, JLL
As competition for industrial and residential land intensifies in the western corridor between Brisbane and Ipswich, Centennial isn’t wasting time getting construction underway at its master-planned 12.2ha Riverview Industrial Park, after gaining development approval to transform the site into an institutional grade, mid-space, multi-unit estate.
National builder, Vaughan Constructions will deliver the first stage of Riverview Industrial Park at 103 Riverview Road, with construction starting next month on five warehouse tenancies ranging from 1,700 to 7,000sq m, providing a total of 19,400sq m of highly generic and flexible warehouse accommodation.
Completion is due in the third quarter of 2026, which is timely given the increased focus on Brisbane’s western suburbs as land supplies diminish closer to Brisbane, which has led to a surge in land uptake for both industry and residential use.
Centennial’s Head of Property Funds, David Cupit said gaining development approval was opportune given the recent release of Ipswich City Council’s new City Plan for the next 20 years.
“Brisbane and Ipswich are earmarked for increased residential density and commercial development so we’re getting ahead of that curve at the right time as competition for well-located industrial sites in Brisbane’s western corridor becomes harder to find.
“Our location offers direct highway access to the junction of the Warrego, Ipswich and Cunningham highways, providing businesses with direct access to the major port, rail and airport freight routes,” Mr Cupit said, adding “last mile and light manufacturing sectors would also benefit from the site’s prime location, 24/7 operational hours and central access to CBD and greater Brisbane customers.
“We’ll continue to target mid-space industrial and logistics businesses seeking high-quality tenancies under 10,000sq m and are already in discussion with a number of potential occupiers with flexible design being the key to differentiation.
“When we acquired Riverview Industrial Park in 2023, we knew it ticked all of the boxes as a value-add opportunity due to its high underlying land value component and excellent location, and we’re confident this new master-planned industrial estate will appeal to a range of industry sectors wanting to gain exposure to one of Queensland’s fastest growing population centres of Ipswich and its surrounding suburbs, together with direct access to Brisbane’s road and infrastructure networks.”
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