Centuria Industrial REIT opens 5-star Green Star industrial property
- One of Australia’s first five-star Green Star – Design & As Built Certified industrial building under new v1.3 rating guidelines
- New $18.1m prime grade industrial facility within Greater Brisbane’s Western Corridor
- Addresses Greater Brisbane’s low 2.9% industrial vacancy1, rising demand from occupiers
- Grand opening event hosted with the City of Ipswich Mayor, Teresa Harding.
Centuria Industrial REIT (ASX:CIP) today opened an $18.1 million prime grade industrial facility within the Greater Brisbane Western Corridor with the Ipswich City Council Mayor, Teresa Harding, and CIP Fund Manager, Jesse Curtis, celebrating the milestone event.
The newly completed, 10,244sqm industrial facility located at 42 Hoepner Road, Bundamba Queensland will be one of Australia’s first five-star Green Star – Design & As Built Certified industrial building under the Green Building Council Australia’s (GBCA) new rating guidelines v1.3.
The version 1.3 Design Review Certified Rating is one of the most onerous and comprehensive guidelines provided by GBCA, which means few have achieved this status.
Sustainable features include a 99kw solar panel system, a recycled watering system and rainwater harvesting, drought resistant landscape, and a new concrete system using steel fibres within the concrete which excludes the requirement for steel reinforcement, recycles existing material, and therefore minimises material usage and wastage and, thereby, reducing the overall embodied carbon of the building.
It is positioned within a 2.4 hectare site in the Citiswich Business Park industrial estate.
The prime grade industrial facility was developed by Australia’s largest listed domestic pure-play industrial REIT, CIP, to address low vacancy rates within Greater Brisbane and rising demand from occupiers.
Jesse Curtis, CIP Fund Manager, said, “We are pleased to be developing this industrial property to meet the rising demand from the logistics and warehousing sector in Greater Brisbane, where vacancy rates are a low 2.9%1. In particular, Bundamba is attracting blue chip national and international corporations with existing occupiers in the CIP portfolio including Australian Pharmaceutical Industries (API) and The Reject Shop.”
The 42 Hoepner Road facility provides an 11-metre clearance, four recessed loading docks, 13 on-grade roller shutter doors, a 9,100sqm concrete hardstand with B-double access and 600sqm of office space.
The property was developed by Centuria Capital Group’s Development division, headed by Andre Bali.
Mr Bali said, “Centuria will continue to develop quality assets and add value to its existing industrial assets for its investors. The Bundamba area is attracting significant, global companies and in order to attract like companies, we want to deliver an asset that is sustainable now and well into the future.”
Mr Curtis and Mr Bali were joined by The City of Ipswich Mayor, Teresa Harding, to officially open the prime grade industrial facility.
Ipswich Mayor, Teresa Harding, said, “Council is committed to working with the business community and manufacturers to create jobs and support the Ipswich community. Council welcomes Centuria Industrial REIT’s first 5-star Green Star industrial property to Ipswich.
“This Bundamba industrial hub is home to national and international manufacturers in Ipswich, including Rheinmetall, Boeing, TAE Aerospace, Viatris and Maxitrans. This facility could mean up to 150 more jobs for Ipswich workers and economic growth more broadly – which benefits everybody.”
Family owned and operated Queensland construction company, Tomkins Constructions, was the appointed building contractor who completed the asset in a 27 week period.
The 42 Hoepner Road property is the third property owned by CIP in Bundamba and the sixteenth within Queensland, taking CIP’s total investment in QLD to more than $770 million and total portfolio includes 66 industrial assets worth over $3.0Billion.
The facility will accommodate up to 150 workers.
1 CBRE Industrial & Logistics Vacancy Report H1 2021
Centuria Capital Group secures a $70.6 million industrial logistics facility in North Rocks, NSW, on behalf of US private investment firm, Starwood Capital’s, Last Mile Logistics Partnership (LMLP).
Centuria Capital Group has successfully exchanged conditional contracts to divest two adjoining industrial facilities located at 114 and 120 Old Pittwater Road, Brookvale NSW, which is anticipated to deliver a forecast 13.8% IRR to the assets’ closed-ended fund investors.