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Goodman's 39,681 sqm Lytton Motorway Estate fully committed prior to development completion

Thursday, 27 November 2014

Goodman Group (Goodman or Group) is pleased to announce that its Lytton Motorway Estate is fully committed, seven months prior to development completion, with Silk Contract Logistics (Silk) pre-leasing the final 10,821 sqm of the 39,681 sqm warehouse development.

Goodman’s General Manager Australia, Jason Little said: “Goodman’s ability to secure customer pre-commitments for over 39,000 sqm of speculative space demonstrates the strong demand for quality warehouse facilities in Brisbane and our continued commitment to providing our existing customers with flexible, high quality property solutions.”

Earlier this year, Silk committed to a 19,910 sqm facility at the estate to service their Queensland distribution requirements. The ongoing growth of its business has resulted in the need for Silk to take additional space, increasing their total commitment to 30,731 sqm, on an initial 10 year lease term. The latest deal with Silk follows the recent commitment by Yusen Logistics (Yusen) for 8,950 sqm of warehouse space to serve as their Queensland distribution centre.

Silk and Yusen are both existing Goodman customers and together occupy over 100,000 sqm in Goodman’s Australian portfolio.

Silk Contract Logistics Managing Director, Brendan Boyd said: “As our business continues to grow across the country, we are conscious of securing the best and most functional buildings in leading locations for our customers. We had specific time critical deadlines for this new requirement and Brisbane City Council and Goodman worked together to ensure planning approvals were received promptly for the construction of the new facility to commence, enabling our business to further invest in South East Queensland.”

Lytton Motorway Estate is located next to Goodman’s Port Connect Distribution Centre, a 51,725 sqm 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 in excess of $150 million.
A construction ceremony was held today on site at Lytton Motorway Estate, with Lord Mayor Graham Quirk officially welcoming Silk Contract Logistics to Brisbane.

Lord Mayor Graham Quirk said that the Lytton Motorway Estate was located in a key economic and employment growth area, which was expected to become one of Brisbane’s leading industrial hubs.

“The strong demand for this site already is a reflection of its convenient location and access to key transport infrastructure. This development will provide a significant boost to the local economy, creating over 300 construction jobs and more than 400 long-term jobs on completion of the project,” Cr Quirk said.
Goodman’s General Manager Australia, Jason Little concluded: “Brisbane City Council have been proactive in ensuring Goodman is well positioned to deliver another high quality industrial estate for customers in the Brisbane region. We are excited to have commenced development works and look forward to delivering an outstanding facility for Silk Contract Logistics and Yusen Logistics.”

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For further information, please contact Goodman:
Mathew Werner
Group Corporate Communications Manager
+61 2 9230 7159