Cromwell secures leases at logistics asset

Real Estate Investor and Manager, Cromwell Property Group (Cromwell), has secured leases covering 12,400 sqm with BKC Storage and Distribution and Bradken Resources, in the latest deals at Osprey Estate at the Port of Brisbane.

The Estate, comprising 63,000 sqm of A-Grade Logistics and Warehousing space, is situated in a prime location near the wharves, Brisbane Airport and major road arterials.

BKC has consolidated its’ operations and relocated to Osprey Estate, leasing 6,320 sqm on a five-year term, while Bradken Resources, an existing tenant, has relocated to a larger site within the Estate, leasing 6,128 sqm on a three-year term.

Cromwell’s Head of Property, Bobby Binning said the deals were a positive indicator of growing demand for quality, well-positioned logistics assets.

“The rise of the logistics sector is being driven by continued growth in e-commence, urbanisation and automation – all of which are impacting how firms effectively manage their supply chains.”

“The leases with BKC and Bradken Resources have been predominately driven by the opportunity to crystallise supply chain and transport efficiencies by being located at Osprey Estate. The proximity of the Estate to all major regional and international transport hubs is unparalleled in the Brisbane market,” he said.

About Osprey Estate

Osprey Estate is a major industrial estate consisting of approximately 63,000 sqm of A-Grade logistics and warehousing space. Located in a prime strategic position at the entrance to the Port of Brisbane it offers users unparalleled access to the Port’s wharves, Brisbane Airport and major arterial roads including the Port of Brisbane Motorway and Gateway Motorway. Limited leasing opportunities remain.