29/04/2011- Sublease at Pinkenba a logical move

A logistics company has secured a short-term sublease- with the chance of a longer stay in an office/warehouse in the Australia TradeCoast precinct.

HK Logistics will move into 2/79 Bancroft Rd, Pinkenba, on a one-year lease with a five-year option.

Raine & Horne Commercial’s Phil Heggie said the sublease was tied up with the likelihood of the company winning future tender.

‘The reason for the short term is that they don’t know at the moment if they will have the requirement beyond that one year,’ he said.

Last year, the holders of the current lease, logistics company Savco, moved to larger premises at 231 Holt St, Eagle Farm.

HK Logistics took the sublease from Savco on the vacant 2978sqm building, which also features 20 carparks, after growing out of its Virginia premises.

The company will pay $342,470 a year. ‘They won a contract that has forced a requirement for bigger space,’ Mr Heggie said.

‘Also, proximity to the airport is the main thing for them wanting to be here. The building is a modern construction and there is a security consideration as well.’

HK Logistics is an Australian-owned international supplier of services providing assistance in the fields of logistics, procurement and project management to the public and private sectors.

Mr Heggie said Pinkenba was attracting big-name companies. ‘There’s lots of activity in Pinkenba,’ he said.