Refrigerated logistics facility

160 Benjamin Place, Lytton, Queensland

Providing exposure to Brisbane’s tightly held industrial sector, the second asset acquired for the Fund is a last mile refrigerated logistics facility strategically located in the Australian TradeCoast – Brisbane’s premier industrial precinct.

160 Benjamin Place was selected due to its prime industrial location, as well as the potential to drive income and value uplift through an active leasing strategy.

The unprecedented recent growth in industrial rents across Brisbane has meant the current market rent achievable for the asset has rapidly outpaced the current passing rent. This presents a key opportunity to drive income and value growth through the re-setting of the asset’s rental terms on lease expiry.

In addition, the industrial market is currently experiencing a significant undersupply of refrigerated warehouse facilities due to elevated construction costs and limited industrial land supply, positioning the asset well to capture oncoming growth potential.




Lytton, Queensland (Australian TradeCoast Precinct)


Sunshine Seafoods



  • The asset is located within the prime Australian TradeCoast precinct of Lytton – a highly sought-after area for industrial occupiers due to its strategic proximity to the Port of Brisbane, Brisbane’s CBD, and the city’s arterial freight network.
  • Due to the unprecedented growth in industrial rents across Brisbane, the current rent of the asset sits below market levels, presenting an opportunity to drive significant income uplift on lease expiry.
  • The current lease benefits from uncapped CPI rent review mechanisms (minimum 3%), providing the ability to capitalise on strong short-term inflation.
  • A market-wide shortage of available refrigerated logistics facilities has driven vacancy rates across Brisbane’s industrial market to significant lows, with Cushman and Wakefield reporting vacancy rates of 1.9% in Q4 2023.
  • There is potential to drive further value uplift through capital works to the asset.
  • The transaction is underpinned by high underlying land value and was acquired below replacement cost.

Site and Surrounds


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