Explosive deal for TNT as Motorama snaps up $15m Brisbane site
TNT Australia has sold a major logistics facility in Salisbury in Brisbane’s south for about $15 million to one of Queensland’s largest family owned automotive retailers, Motorama.
The 22,000-square-metre facility was part of a portfolio of depots that TNT brought to the market last year.
The courier firm expected to net about $35 million from the sale of the portfolio in Victoria and Queensland as it consolidated into new purpose-built premises as part of a $300 million east coast expansion and upgrade of logistics facilities.
In June last year, TNT moved into its new Queensland regional headquarters: a 27,781-square-metre warehouse and office facility at Goodman Group’s Redbank Motorway Estate.
That left the Salisbury facility available for sale through Cushman & Wakefield industrial director Michael Callow, who declined to comment on the latest transaction.
The property at 127 Riawena Road sits on a 61,000-square-metre plot, enabling further expansion.
Land title records show TNT Australia bought the land in 1995 for $7.2 million.
Both TNT Australia and Motorama could not be reached for comment.
In September last year, TNT began operating from its 38,000-square-metre Victorian “super hub” parcel sorting facility at the Melbourne Airport Business Park in Tullamarine.
In February 2015, the company opened a 30,000-square-metre Sydney super hub in Erskine Park.
Other major logistics groups such as DB Schenker also were developing new facilities.
DB Schenker’s east coast expansion included a deal with Frasers Property Australia to develop a 24,500-square-metre distribution facility at the Eastern Creek Business Park in western Sydney last year.
In 2014, the company also opened a 30,000-square-metre distribution hub at Goodman Group’s Redbank Motorway Estate in Ipswich.
