Centuria Industrial REIT Develops c.$40m Facility, Coopers Plains QLD

Photo from L to R: Manish Jaiswal, Andre Bali, Jessica Topelson, and David McGuigan

• Value-add development to deliver 10,300sqm across eight industrial units; 10-month construction period
• Brisbane vacancy at 3.5%¹ with limited forward supply
• Pre-leasing campaign underway

Australia’s largest listed pure-play industrial fund, Centuria Industrial REIT (ASX:CIP), is meeting surging demand for industrial facilities in southeast Queensland, breaking ground on a new c.$40million² redevelopment project in Coopers Plains, QLD.

Located at 51 Musgrave Road within the infill market of Coopers Plains QLD, the development replaces three outdated industrial units with eight new units ranging from 1,500sqm – 3,000sqm and totalling 10,300sqm across the precinct. The new development has been specifically designed to attract smaller industrial tenants, a segment of the market which is underserviced by quality accommodation options while providing the greatest depth of tenant demand.

Centuria’s construction delivery partner for this development is Vaughan Constructions. It’s anticipated that the precinct will be delivered over a 10-month period and operating from mid-2027.

The new facility will feature internal clearances of up to 8m, mezzanine office space, 5.4m cantilever awning, two roller doors per tenancy, end of trip facilities per tenancy and 62 on-grade parking spaces. The site has been designed to enable flexible tenancy configuration with two pairs of units able to be combined in the future.

Grant Nichols, CIP Fund Manager and Centuria’s Head of Listed Funds, said “Southeast Queensland continues to experience constrained leasing opportunities with the vacancy rate at 3.5%. It is a pleasure to partner with Vaughan Constructions to deliver this much needed industrial facility to meet the rising demand for high-quality, sustainable industrial facilities in the burgeoning Brisbane market.”

Andre Bali, Centuria’s Head of Development, added “We continue to identify and execute market led value-add industrial opportunities in sectors positioned for growth. We anticipate this Coopers Plains development will capture strong tenant demand from persistent sector tailwinds. Our pre-leasing campaign has commenced and attracted robust interest from operators.”

Luke Stambolis, Vaughan Constructions CEO, said “We are proud to partner with Centuria on the delivery of this high-quality industrial development at Coopers Plains. The combination of a prime location, premium facilities and strong sustainability credentials will make this development a standout in the local market.”

The redevelopment targets a 5-star Green Star Design & As Built certification with sustainability features including c.10% translucent roof sheeting to reduce reliance on artificial light, 99kW solar system, EV chargers, LED lighting, water-efficient fixtures and rainwater water systems.

The Coopers Plains site is positioned within a well-established infill industrial market, approximately 11km south of the Brisbane CBD, with 888k households within a 60-minute drive, and provides excellent access to the Ipswich Motorway, which is approximately 2km west of the site. The site adjoins CIP owned 55 Musgrave Road and is located in close proximity to the Acacia Ridge Rail Terminal providing excellent shipping container logistics from the Port of Brisbane.

Nationwide, CIP manages a portfolio of 83 industrial facilities worth $3.9 billion. Its Queensland portfolio has a 19% weighting with 17 assets worth c.$700 million, providing a healthy 10-year WALE and c.195,000sqm of industrial space.

CIP has appointed Solv Property’s Michael Richardson and Ryan Bennett and Knight Frank’s Lachlan Hateley and David Knox as the development’s leasing agents.

¹ Source: Cushman & Wakefield Marketbeat Brisbane Logistics & Industrial Q2 2026
² Estimated market value based on current conditions