SYDNEY, 11 OCTOBER 2018
Frasers Property Australia (Frasers Property) has secured a five-year lease including a five-year option to extend with hardware giant Pinnacle Hardware in its Berrinba Logistics Park in Queensland.
The 12,300 sqm facility comprises a 12,000 sqm warehouse, 300 sqm office and 50 car spaces. Pinnacle Hardware, a supplier of homeware products, is relocating from Richland.
This is the second warehouse the company has built with Frasers Property. They moved into The Key Industrial Park in Melbourne’s Keysborough last year.
Troy Whalan, General Manager Commercial & Industrial Queensland for Frasers Property Australia, comments, “The Brisbane industrial market has been performing well over the last couple of months after a slower start to the year. It is pleasing to see that several clients are expanding with the business across various states including Pinnacle Hardware, demonstrating our commitment to customer service.
“Berrinba North’s logistics area has attracted several prominent companies including CEVA Logistics, Hankook Tyres, Toll and Stoddart. It is strategically positioned within close proximity to the Logan Motorway, which links to the M1 and Ipswich Motorways.”
He added, “The Logan Motorway is currently under construction in the Berrinba North region including new on and off ramps which will significantly assist all businesses in the precinct.”
Allan Cheng, Director at Pinnacle Hardware comments, “Frasers Property’s end to end solution is a key reason why we expanded with the company in two states, as well as the cost savings associated with building 5 Star Green Star warehouses. Within the next 10 years we expect to rapidly expand as a direct result of demand for home improvement products from our major client. The DIY market continues to grow exponentially which is contributing to our expansion.
“It made smart business sense to place the warehouses in Melbourne and Queensland as these markets are cost effective and offer ease of access to several major transport routes to service our national client network. We are currently in discussions with Frasers Property to build a third facility in Melbourne.”
Pinnacle Hardware will move into their new premises in the first quarter of 2019. Frasers Property brokered the deal.
Transurban Queensland’s $512 million Logan Enhancement Project1 includes upgrading parts of the Logan and Gateway Extension motorways, improving key congestion hot spots (Mt Lindesay Highway/Beaudesert Road interchange and the Wembley Road/Logan Motorway interchange) and constructing new south-facing ramps at Compton Road.