- New 2,154sq m Warehouse B at Murarrie Industrial Park fully leased before completion
- National metal fabricator, Wear Liner Solutions commits to 7-year lease
- Site at 980 Lytton Road also comprises a newly refurbished 3,500sq m Warehouse A plus external hardstand areas now available for lease
- Australia TradeCoast’s infill industrial vacancy rate is the tightest of all Brisbane submarkets at 2.8 per cent (Cushman & Wakefield’s Q3 2025 industrial vacancy report)
- Leasing Agents: David Gibson and Henry Devine, Modus Property Group
The ongoing squeeze on vacancy rates in Brisbane’s prime industrial submarket of Australia TradeCoast has led to Centennial drawing national metal manufacturing tenant, Wear Liner Solutions into signing a 7-year lease for a new speculative built warehouse at its Murarrie Industrial Park, before practical completion.
The new 2,154sq m industrial facility at 980 Lytton Road Murarrie, contains a 1,851sq m warehouse, two levels of office space over 303sq m, car parking, extensive slab upgrades for B-double access, plus a 10 tonne gantry crane for the tenant, involved in supplying the national mining, construction and agricultural sectors.
The lease was brokered by David Gibson and Henry Devine of Modus Property Group and reinforces Centennial’s position as a major operator in the mid-space urban infill sector.
Centennial’s Head of Funds Management, David Cupit said the site was purchased for its EVP fund as a tactical move to capitalise on the precinct’s high demand, strong rental growth and lack of current and forecast supply.
“Our specific intention for the site was to roll out our value-add Metro I+L strategy by upgrading an existing warehouse and facilities,” Mr Cupit said. “We also took the opportunity to transform underutilised open space surrounding the warehouse to develop a new institutional-grade warehouse to make the most of the site’s location within the TradeCoast, that continues to outperform other industrial submarkets in Queensland’s south east.
“The site’s prime position on Lytton Road, which is a major connector to the Gateway Arterial 200 metres away, and 750 metres from the Port of Brisbane Motorway were major factors in the tenant selecting Murarrie Industrial Park based on the heavy industries Wear Liner Solutions services, and the need for unhindered access to major road and port freight routes.”
Mr Cupit expects the larger existing vacant warehouse spanning 3,062sq m of logistics, office, storage and car parking areas to lease quickly given its recent refurbishment, which includes adding a recessed loading dock, new on-grade roller shutter doors accessing 10.4m internal clearances and fully upgraded office areas spanning 426sq m.
“The strength of Murarrie and more broadly, the Australia TradeCoast region, is very robust with net absorption the strongest in the TradeCoast and southern submarkets,” Mr Cupit said.
Supporting Mr Cupit’s views is Cushman & Wakefield’s latest Q3 industrial and logistics report, noting Brisbane’s overall vacancy had tightened over the previous quarter to 3.7 per cent, however, vacancy levels in core infill precincts including the TradeCoast’s inner south and inner north were considerably tighter at just 2.8 per cent.
In closing, Mr Cupit added: “What was also interesting from the latest report was that it identified the transport and logistics, manufacturing and construction-related sectors to be the most active (in leasing take-up), which is clearly evidenced by our latest new tenant signing.”
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