Trucking giant heads Coast hub
A SUPER depot for global logistics company Toll is to be built as the opening stage of the largest industrial project the central Gold Coast has seen for many years – on a “cleaned” former Colgate-Palmolive site at Arundel.
The 22ha property has been named the Gold Coast Logistics Hub in the wake of its $22.26 million purchase by LOGOS and Partners groups nine months ago.
As flagged by the Gold Coast Bulletin in February, the site is to be developed over the next 12 years into a $200 million logistics centre.
LOGOS and Partners Group initially are developing a purpose-built 10,250 sqm regional logistics facility on the land for Toll, which is owned by Japan Post.
Toll, which is taking an initial 12-year lease, will consolidate its three existing Gold Coast depots – at Molendinar, Burleigh Heads and Arundel – on the super depot site, retaining more than 120 staff.
LOGOS, which already has developed facilities for Toll in NSW and Victoria, says the Gold Coast Logistics Hub ultimately could take buildings with a total gross lettable area of 100,000 sqm – or 10 hectares. It says it already is talking to other potential tenants.
Work on the Toll facility is under way, with a groundbreaking ceremony held on the Captain Cook Drive property today.
Construction and full fitout of the facility, which is intended to service Toll’s Gold Coast and northern NSW customers, is due for completion by the end of April.
LOGOS says a masterplan layout for the Arundel property, which Colgate-Palmolive bought in 1988 and vacated in 2016, enables design-and-construct options for tenants of from 3000 sqm to 30,000 sqm.
LOGOS says there will be surplus land on the site which might be subdivided and sold down the track.
John Marsh, joint managing-director of LOGOS, yesterday said the Gold Coast Logistic Hub was being developed on the last major infill site in the central Gold Coast.
He said the site offered excellent transport links to tenants wanting to service the 938,000 people in the Gold Coast northern NSW area.
LOGOS is backed by Macquarie Bank and has an Australasian industrial development pipeline exceeding $2 billion.
Partners Group is a global private markets investment manager acting on behalf of clients.