The new industrial estate at 541 Bilsen Road, Geebung, is transforming the area as space for development becomes increasingly limited. Pacific Dunlop's 3.07-hectare property has been repurposed by Sibad Investments Pty Ltd, which purchased the site for $4.16 million a year ago.
David Bright from McGees National Property Consultants shared that this property became available when Olex Cables, a Pacific Dunlop subsidiary, ceased its Queensland manufacturing operations. Despite scaling back, Olex has retained a presence at the site, leasing a 3461 square metre building along with 7700 square metres of hardstand for its sales, distribution, and storage needs in Queensland.
According to Mr Bright, approvals are already in place for constructing three additional buildings, with sizes ranging from 600 to 2500 square metres, which can be customised for new tenants.
Following Olex’s downsizing, RX Plastics has taken up a five-year lease, with options for extension, on a 4005-square-metre building with hardstand space. The annual rent is set at $185,000.
Other tenants, including Milton Printing Pty Ltd and Classic Office Relocations, have also moved into the estate.
Mr Bright further noted that the property owner is actively seeking tenants for three additional buildings that will be constructed to meet specific requirements. The first of these has been secured, with an industrial diner operator set to open soon.
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