LOGISTICS real estate company LOGOS has announced a new venture with KKR and Mubadala Investment Company for the development of modern, high-quality logistics facilities across Australia.
LOGOS has seeded the venture with an 18.2-hectare development site in Wacol, Brisbane acquired from Fletcher Building.
The venture has a strategy to acquire and develop logistics facilities predominately across the key eastern seaboard markets including Sydney, Melbourne and Brisbane.
LOGOS manages every aspect of logistics real estate, including investment management, sourcing land or facilities and undertaking development and asset management, on behalf of real estate investors.
LOGOS has more than 7.3m square metres of property owned and under development, with a completed value of A$14.2bn, across 24 ventures.
Located at 3746 Ipswich Road, Wacol, the venture’s seed property offers immediate exposure and access to Brisbane’s key arterial road network being positioned at the interchange of the Ipswich and Logan Motorways, 23kms southwest of the Brisbane CBD.
LOGOS has commenced plans to re-develop the site into a master-planned logistics estate on both a pre-lease and speculative basis with up to 95,000sqm of GLA. Upon completion, the LOGOS Wacol Logistics Estate is anticipated to have an estimated value in excess of A$200m.
LOGOS’ head of Australia and New Zealand, Darren Searle, said, “We are pleased to have established a new venture with experienced global investors, KKR and Mubadala, enabling LOGOS to continue to meet the ever growing demand from global, multi-national and domestic customers for high-quality logistics facilities within Australia.
“We see the Wacol property as a strategic seed asset for this venture and are pleased to have facilitated this transaction from Fletcher Building, with whom we have a long-standing relationship,” he said.