A substantial multi-warehouse complex, spanning over three hectares, will soon grace the Richlands industrial sector, thanks to a new project by Centuria Capital, a prominent Sydney-based fund manager.
This new development located at 616 Boundary Road is designed to boost the industrial landscape of Richlands, a suburb already home to major companies like Coca-Cola and Target.
The site currently houses a 13,763 sqm warehouse, which was acquired by Centuria in 2018 for $15.9 million from logistics group Border Express in a three-year leaseback deal.
The new development plan (DA A006399282) proposes replacing the existing facility with three office-warehouse buildings, totalling 16,718 square metres under roof.
The design of these warehouses has been meticulously considered to complement the surrounding area, which predominantly consists of industrial retailers and warehouses. Each of the three proposed warehouses is designed to be slightly over 14 metres in height, with individual gross floor areas of 6713, 6097, and 3908 square metres.
The design and construction standards of these warehouses are expected to positively contribute to the character of the surrounding industrial development. The project is not just about expansion but also about revitalising an underutilised site to create valuable industrial opportunities, in line with local and state planning frameworks.
Additionally, the proposal includes plans for local employment opportunities both during the construction and operational phases. The complex will also feature onsite parking for up to 116 vehicles and will be accessible from Boundary and Archerfield roads. It’s strategically located close to the Ipswich Motorway and Richlands train station, and is designed to accommodate large vehicles such as 26m B-double semi-trailers and 19m articulated vehicles.
Further bolstering its commitment to the logistics sector, Centuria has also secured a significant $500 million investment from a US firm, earmarked for acquiring strategic industrial assets across Australia. This move signals Centuria’s strategic expansion and growing influence in the logistics and industrial real estate markets.