Goodman's Lytton Motorway Estate
26 December 2014
Goodman Group has announced that its Lytton Motorway Estate is fully committed, seven months prior to development completion, with Silk Contract Logistics pre-leasing the final 10,821sqm of the 39,681sqm warehouse development.
Goodman said the commitment demonstrated the strong demand for quality warehouse facilities in Brisbane and especially in the Australia TradeCoast region.
Earlier this year, Silk committed to a 19,910sqm facility at the estate to service its Queensland distribution requirements. The ongoing growth of its business has resulted in the need for Silk to take additional space, increasing its total commitment to 30,731sqm, on an initial 10-year lease term.
The latest deal with Silk follows the recent commitment by Yusen Logistics for 8950sqm of warehouse space to serve as its Queensland distribution centre.
Silk and Yusen are both existing Goodman customers and together occupy more than 100,000sqm in Goodman’s Australian portfolio.
Brisbane City Council and Brisbane Marketing worked with Goodman to ensure planning approvals were received promptly so the construction of the new facility could begin, enabling Goodman to further invest in South East Queensland.
Lytton Motorway Estate is located next to Goodman’s Port Connect Distribution Centre, a 51,725sqm facility leased by Kmart. Both estates are strategically located adjacent to the Port of Brisbane Motorway and Port of Brisbane.
Lytton Motorway Estate will see Goodman’s investment in the Lytton industrial precinct increase to more than $150 million.