Goodman commences development of major Queensland industrial estate, with 31,400 sqm pre-lease to DB Schenker

Goodman Group (Goodman) is pleased to announce that construction of its $350 million Redbank Motorway Estate (the Estate) development in Brisbane’s south west has commenced. Significantly, the new estate commencement follows a major pre- leasing agreement secured with leading international logistics provider, DB Schenker.

Redbank Motorway Estate

The Estate is a new 62 hectare industrial development site located at Redbank, and adjacent to the Ipswich Motorway, providing excellent road transport links. The multi- customer estate has sufficient developable land to deliver over 250,000 sqm of prime industrial space for a range of individual business uses.

Goodman has commenced over $27 million of infrastructure and associated works, which include completion of the Redbank Link Bridge to provide direct motorway access to the recently upgraded Ipswich Motorway; construction and upgrade of over three kilometres of public industrial collector roads, and; provision of services, including sewer, power and water to the Redbank peninsular.

Goodman Group’s General Manager, Australia Jason Little said: “Brisbane is an important market for Goodman and we have increased our Queensland portfolio by 20% over the last two years. Our focus has been to secure quality opportunities for further investment, particularly in light of the undersupply of large, serviced industrial land that is well located, with direct connections to major transport infrastructure. We are pleased to be announcing that the development of Redbank Motorway Estate is now underway and provides a unique opportunity for customers requiring high quality, large format warehousing facilities.”

Consistent with Goodman’s sustainable development approach, the new Estate will also incorporate a further 18 hectares of parkland area on the Brisbane River foreshore adjoining the Estate, and is one of the first industrial estates in Queensland to be National Broadband Network approved.

It is anticipated that, when fully built out, Redbank Motorway Estate will provide the City of Ipswich with over 2,300 full-time jobs.

DB Schenker pre-committed development

Anchoring the development of the new Redbank Motorway Estate, will be a new 31,400 sqm pre-committed distribution centre which is being undertaken for DB Schenker to house their Queensland logistics business. The global third party logistics provider has committed to a new ten year lease term, which will commence on completion of the facility, targeted for late June 2014. It is anticipated that a workforce of around 120 people will be employed by DB Schenker at the new distribution centre.

DB Schenker completed an extensive logistics review of various locations across metropolitan Brisbane and chose Redbank, in the City of Ipswich, as their preferred location.

“We are delighted to launch this Estate with a new Queensland distribution facility for DB Schenker and build on the long standing relationship that Goodman has with one of our largest global customers. Goodman would also like to acknowledge the support and proactive approach by the City of Ipswich, which was of great assistance throughout the planning and development approval process to secure this major new project.” Mr Little added.

Kip Sandercock, QLD Regional Operations Manager at DB Schenker said, “This project offers DB Schenker the opportunity to continue to support our existing clients and to grow our business in Queensland. DB Schenker has undertaken an extensive and exhaustive analytical process over the past nine months culminating in this decision to partner with Goodman and the City of Ipswich both of whom have demonstrated their willingness and ability to work with DB Schenker to achieve this outcome. We look forward to providing outstanding services and value to our clients and continuing to be an employer of choice for existing employees and for future employees in the City of Ipswich as we move to this new facility.”

Goodman has further committed to a new 14,800 sqm speculative facility at Redbank Motorway Estate, with market leading features, including 52 metre wide, container rated hardstand areas, 15 metre cantilevered awnings and highly specified floor loadings and clearances. The building will also include environmentally sustainable design features, which substantially lower electrical usage and will be available for occupation in July 2014.