$160bn super powerhouse scoops $200m Brisbane property deal
UniSuper has struck an offmarket deal to snap up these high-demand properties in Brisbane’s west.
One of Australia’s biggest super funds has quietly poured $200m into Brisbane property, betting big on the city’s industrial boom with the retirement savings of more than 670,000 members.
UniSuper sealed a circa $200 million off-market deal to snap up three modern manufacturing, warehouse and logistics facilities across Brisbane’s tightly held southwest at Oxley, Darra and Richlands.
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Images from when JLL last put the property up for lease in 2023. Source: JLL/RealCommercial
The property was snapped up amid re-hot demand for industrial space. Source: JLL/RealCommercial
The portfolio is fully leased to multiple tenants and spans about 53,000sq m, underlining the red-hot demand for industrial space across South East Queensland.
Located in highly sought-after infill pockets with strong transport links, the sites offer easy access to the CBD, key industrial hubs and major freight routes.
UniSuper manager, property Will Williamson said the deal strengthened the fund’s exposure to Queensland’s booming economy.
“We’re delighted to have secured this high-quality, fully leased industrial portfolio for our members, increasing the Fund’s exposure to the strongly performing South East Queensland economy. The acquisition adds to UniSuper’s diversified $8.8 billion unlisted property portfolio,” Mr Williamson said.
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Proximity to transport routes into Brisbane CBD and further is deal for the site. Source: JLL/RealCommercial
Listing images from when JLL put part of the property up for lease in 2023. Source: JLL/RealCommercial
UniSuper said Australia’s industrial property sector remained one of the most attractive globally, driven by ultra-low vacancy rates and tight supply.
“We expect the sector to continue to benefit from positive trends driving occupier demand for modern, high-quality warehousing and logistics accommodation against a backdrop of low vacancy and a constrained supply outlook.”
Mr Williamson said the off-market nature of the deal highlighted UniSuper’s ability to secure premium investments “to help members grow their retirement savings”.
The deal was negotiated by real estate investment management firm Richmond Bridge under an industrial property investment mandate.
UniSuper has managed superannuation for more than 40 years and opened its doors to all Australians in 2021. It now invests about $158 billion on behalf of around 670,000 members.
