Oceania Glass has leased a new distribution centre within the Port of Brisbane’s Osprey Estate.
The manufacturer and wholesaler signed the rental agreement following a business case concluding that it would achieve transport efficiencies by having a base in the city.
Oceania Glass currently has distribution centres in Sydney, Melbourne and Perth.
In the Queensland capital, it has leased 6,902 square metres for five years following a deal negotiated by Anthony White, Colliers International’s national director, Industrial.
Mr White said the Oceania Glass property (pictured, highlighted, top) includes very high capacity concrete floor slabs approaching 50MPa and four 10 tonne overhand gantry cranes.
“Fortuitously for Oceania Glass, most of their stock holdings are coming across the Port of Brisbane, so when we overlaid inbound freight costs into the deal, it became very hard to beat,” Mr White said of the new Brisbane warehouse.
Oceania Glass logistics operations manager, Justin McKenzie, agreed.
“The business case for a distribution centre in Brisbane was pretty simple when we looked at the number of trucks we could get off the road,” Mr McKenzie said.
“The focus of Oceania Glass is on how their distribution centres in Sydney, Melbourne, Perth and now Brisbane allow customers to benefit from the strength of its local service as Australia’s glass maker.
“This new distribution facility will give us significant capacity in the Queensland market to service our customers, and we are really looking forward to it being officially in operation from next week,” the Oceania Glass executive added.
Osprey Estate is owned by Cromwell and Monash Capital.
All its buildings are over 10.5 metres tall and offer A-Double access, which Cromwell head of Asset Services, Andrew Page, said “many estates in Brisbane can’t compete with”.
Spreading 20 hectares off the Port of Brisbane Motorway, the estate includes industrial warehouses from between 2320-45,000 sqm.
Colliers International research said tenants are increasingly looking towards a total cost of occupation model, with transport costs being a key target.
“Access to major motorways is always a driver for distribution users and the Port of Brisbane has always been a hotspot given the massive infrastructure spend over the past decade,” Mr White said.