Pacific Optics Pty Ltd will consolidate three south east Queensland facilities after leasing a factory under construction at Frasers Property Industrial’s Yatala Central.
The 9107 square metre Bluestone Court warehouse – beside a staff-only half-sized basketball court – is due for completion next August; the landlord also has to build infrastructure including roads.
The general merchandise provider’s rental agreement is for an initial seven years.
As well as the storage space, which will have a 12 metre clearance, the property is designed with a corporate grade office and outdoor staff retreat area beside the playfield.
Yatala is in a south Brisbane growth corridor, 40 kilometres north west of Surfer’s Paradise.
Last year FPI paid Kevin Seymour’s Seymour Group $20m for a 64.2 hectare industrial site in neighbouring Stapylton which it is expected to within months start replacing with a business park containing up to 300,000 sqm of product.
Eleven months ago City of Greater Gold Coast outlaid $12.8m for an 85ha farm in the area with plans to convert it into recreation space (story continues below).
Pacific Optics considered pre-commitments, product
Pacific Optics managing director Martin Best said it searched for both established warehouses and development sites (pre-commitments) before deciding on Bluestone Ct.
“Yatala Central is close to our existing facilities and has excellent transport links to the Gold Coast and Brisbane,” the executive added.
Its neighbours will include O-I Glass – which in August was acquired by Visy Industries for $733m – Beaulieu Australia, Oji Fibre Solutions, Reward Hospitality and Schutz Australia.
Cushman & Wakefield’s Dave Kertesz, who brokered the Pacific Optics deal, said the suburb is considered strategically positioned, competitively priced and convenient to “first class” facilities.
“Many Gold Goast businesses including Pacific Optics are growing at a rapid rate with Yatala being a premier location choice for large scale industrial warehousing,” according to the agent. “We expect to continue to see this trend of successful businesses increasing their footprint in the south east Queensland market”.