Savills News

Strong leasing take up in Virginia Industrial Estate

A flurry of leasing activity has been seen at an industrial estate in Virginia, with only three of the total nine buildings remaining available for lease.

Shaw Harrison of Savills, in conjunction with Colliers, have been appointed to market the last remaining tenancies, including 33,591sq m of buildings branded as Virginia Park Estate located at 153 St Vincent’s Road.

Director of Savills Industrial and Logistics, Shaw Harrison, said there has been a strong level of enquiry on the remaining buildings at the 9.2 hectare industrial warehousing facility.

“We have seen enormous enquiry across the estate given its proximity to major road networks, the airport, and surrounding Northern and Trade Coast industrial precincts.

“We have only three out of the nine buildings remaining for lease within the estate, and with high demand we don’t anticipate they will last much longer,” Mr Harrison said.

The buildings range from 2,304sq m to 3,358sq m, with the ability for excellent racking volumes accessed both by on grade and recessed loading docks.

“Whilst the buildings are of older construction with timber columns and webbed trusses, they are still highly functional warehouses with good clearance,” Mr Harrison said.

Recent tenants to the estate secured by Savills includes IJS Logistics, The Buckner Group, and Johnny’s Furniture, comprising of a combined area of 8,503sq m, at leasing rates over $60/sq m net.

“All tenants have taken advantage of some of the most affordable rental rates in all of Brisbane, and have secured their leases for up to 5 years each.

“Tenants were also drawn to the competitive price point for fully sprinklered stock with the buildings acquired representing exceptional value amongst the market.

“There is up to approximately 20,000sq m of additional hardstand available for lease, so we expect tenants with external hardstand storage requirements will find this site ideal,” Mr Harrison said.

The industrial estate was the previous home of Amart furniture, who occupied the Estate for a seventeen year period.

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