“In Queensland, e-commerce logistics distribution and warehousing has proven sturdy development of 5.2 per cent yearly, the best of any
“The COVID-19 pandemic has additionally spurred a serious uptick in on-line purchasing, notably within the meals, beverage and grocery sector.
“Consequently, surging gross sales of main grocery store gamers in addition to shopper demand for quick supply are translating to greater demand for prime logistics house with good connectivity.”
One other massive consider favour of the Acacia Ridge precinct, in response to Mapletree, shouldn’t be solely its entry to present transport infrastructure, however the profit it expects to achieve from deliberate initiatives, particularly the inland freight rail connecting Melbourne and Brisbane.
“The inland rail is on the doorstop of this location,” stated JLL’s Tony Iuliano who brokered the distribution centre with colleagues Adrian Rowse and Gary Hyland.
“It is going to remodel the realm. This can change into an city infill location as a result of there isn’t a land availability.”
The tight 5 per cent yield struck on the deal was additionally testomony to the quantity of institutional funding urgent for logistics publicity within the native market, he stated.
“Each marketing campaign that we’re doing we’re seeing yield compression at each degree.”
Industrial and logistics property has been one of many few corners of the business actual property market to journey through the disruption of the pandemic relatively unscathed.
In March, amid the preliminary uncertainty brought on by the coronavirus, Blackstone put on ice plans to sell an $800 million portfolio of logistics properties. It’s understood the 2 Acacia Ridge belongings offered this week weren’t a part of that group, nevertheless.