A 33-year extension to Qube’s lease on Fisherman Island, Port of Brisbane, takes its fixed lease period to 40-years and increases its total lease area by almost five hectares.
As part of the agreement, which has just been announced, Qube is to do capital investment into the existing and new lease areas and facilities within five years.
Port of Brisbane chief executive Roy Cummins welcomed the agreement and Qube’s commitment to continue operating at the port.
“As port manager for the next 90+ years, we are focused on working with existing and new customers: supporting their long-term growth and expansion plans to create shared value,” Mr Cummins said.
“Qube is a major operator in the ports and logistics industry, and their ongoing – and growing – presence here at the Port of Brisbane speaks to the important role the port plays in facilitating trade growth not just for our customers, but for Queensland.”
Mr Cummins said one of the port’s industrial property strengths is its flexibility – it has one of the largest industrial landholdings in South-East Queensland.
“In addition to bringing new land online at our 224ha Future Port Expansion Area on Fisherman Islands, we also can offer available and configurable greenfield land spaces for medium-to-large developments, compared to a lack of industrial sites elsewhere in the region,” Mr Cummins said.