Toll NQX Leases 20,000 Square Metre Industrial Facility, Adelaide

LOGISTICS giant Toll NQX has leased a 20,000 industrial property at billionaire property developer Lang Walker’s Vicinity Industrial Estate, in Adelaide.

Vicinity is near the mouth of Adelaide’s $560 million Northern Expressway (http://www.northernexpressway.sa.gov.au/).

Mr Walker told the AFR Toll’s lease vindicates his decision to focus on developing industrial estates on key transport routes and where the government is investing.

NQX moves 2.6 million tonnes of freight nationally, and is one of the biggest service providers between Queensland and Northern Territory.

At other Lang Walker controlled industrial estates, petroleum giant Caltex and pump group KSB Australia have leased buildings at the $1 billion Citiswich Business Park, in Queensland, while about 51,000 square metres of industrial space is being negotiated at the Monaro Industrial Park in Canberra.

Mr Walker’s industrial portfolio in Melbourne – considered the “industrial capital” of Australia - is low, because the developer considers the market oversupplied.

Last month it was reported the Australian Taxation Office will lease office space at a new $750 million development at 735 Collins Street, Docklands, also being developed by Mr Walker.