Bunnings has signed 10-year lease at Port of Brisbane’s Port West Estate with plans to open a new, 30,450 square metre distribution centre
January 14, 2013
Bunnings has signed 10-year lease at Port of Brisbane’s Port West Estate with plans to open a 30,450 square metre new distribution centre (DC).
The 7.65 hectare property will be developed by
the Port of Brisbane
Pty Ltd (PBPL) and is due for completion in late 2013, with an expected completion value of approximately $45 million.
Bunnings’ General Manager of Logistics & Improvement Rodney Boys says the Port West Estate offers an excellent location for the new DC to be established, and caters to the long term growth plan Bunnings is committed to delivering in Queensland.
“Bunnings is dedicated to injecting over $730 million of capital investment in Queensland over the next three to five years through new stores,” Boys says.
“These developments will create over 3,500 permanent positions for Queensland residents and over 5,000 additional jobs during the construction phase.”
Savills leasing agent, Callum Stenson, conducted an exhaustive search on behalf of Bunnings to find the ideal location for its new Queensland distribution centre and says the Port West Estate site met all of the company’s requirements.
PBPL Chief Executive Officer Russell Smith says the leading retailer of home improvement and outdoor living products will be the first tenant to occupy the land at the Port of Brisbane’s Port West Estate.
“The sstate’s prime location provides Bunnings distribution centre with access to unrivalled transport connectivity – by road, rail and sea – and immediate access to the Port of Brisbane and Gateway Motorways, to help meet
its logistics requirements,” Smith says.
“Tenants also have access to the Port’s world-class cargo handling and warehousing facilities, with over $1 billion invested in capital works during the last 20 years.”
Port West Estate consists of 90 hectares of strategic port land located along the riverfront at Lytton, approximately six kilometres from the Port of Brisbane’s Fisherman Islands hub, and is suitable for various uses including distribution centres, logistic providers, warehousing, trucking, motor vehicle storage, container parks and hardstand.