Brisbane Airport Corporation (BAC) is set to open scarce industrial rental space in the northern part of Brisbane, with the development of a new warehouse and distribution facility in the successful Export Park district .

The industrial facility is being developed on a 21,000 m² site on Litsea Street and will provide approximately 10,000 m² of net rental space, including 550 m² of offices and 104 classified car parks on site.

The flexible space will also include eight roller shutters at ground level, a spring height of 10 meters, an ESFR sprinkler system, a double street frontage and steering wheel access in the closed facility.

BAC Executive Commercial Director Martin Ryan said the speculative development will meet the growing demand for warehouse and office space in South East Queensland.

“This is one of a series of developments that will be part of our airport city,” he enthused.

“The next decade will see exponential growth at BNE with more than A $ 5 billion invested in a range of projects, including a third terminal and multimodal transport options to better connect BNE to major economic hubs in South East Queensland.

“The demand for industrial property is increasing as retail, food and beverage, and manufacturing evolve to meet consumer demand. As industries change, so does Brisbane Airport.

He added: “We are already home to 425 companies employing nearly 24,000 people. Over the next two decades, we expect that number to double to almost 50,000 people working at Brisbane Airport, so we are preparing for it.

“From an import and export perspective, fresh produce suppliers in particular are looking for well-connected locations in the US and major Asian ports. This gives Brisbane Airport a strategic advantage.

According to Knight Frank, Brisbane’s IP vacancy rate is at its lowest in six years, with speculative space available at the lowest rate in four years due to sustained demand from the retail sectors and logistics.

And with the new industrial offering in Brisbane concentrated in the south and southwest of the city, it can be argued that the new facility at Export Park is a rare opportunity in North Brisbane that should not be missed.

The new development is expected to be completed within the next 12 months.

Export Park is home to large-scale warehousing, cargo handling and distribution centers, as well as catering, wholesale and storage facilities.