Huge Brisbane Airport land release part of multibillion-dollar commercial expansion

Brisbane Airport Corporation is ramping up its property development ambitions, with a $400 million-plus industrial land rollout adding to a broader $5 billion investment program that could reshape the airport precinct over the next decade.

The airport on Wednesday (21 October) announced plans to bring 30 hectares of industrial land to market over the next three years, targeting logistics, warehousing and advanced manufacturing operators struggling to secure well-connected sites in South-East Queensland.

The release is expected to add more than 150,000 square metres to Brisbane Airport’s investment property portfolio, as the corporation seeks to capitalise on its extensive landholding and transport infrastructure.

Brisbane Airport Executive General Manager Commercial Scott Norris said the rollout was the most intensive industrial development program in the airport’s history, reflecting the scarcity of premium industrial space.

“What we’re bringing to market is one of the last opportunities of this scale in South East Queensland,” Mr Norris said.

“The industrial vacancy story you’re seeing in headlines reflects a real squeeze on tenants, and our role is to release land in a way that meets that demand.”

According to Brisbane Airport Corporation, Brisbane’s industrial vacancy rate has fallen to 3 per cent. Its existing industrial precincts are fully occupied, while its industrial property portfolio has a weighted average lease expiry (WALE) of 8.55 years.

The corporation’s current property portfolio is valued at more than $2.6 billion, having grown by more than $500 million over the past two years.

Brisbane Airport has developed more than 120,000 square metres of industrial gross lettable area over the past five years. Its wider landholding spans 2,700 hectares, with the corporation planning to sustainably manage 420 hectares over the next decade.

“We’re invested in a long-term vision to deliver connectivity, innovation and sustainable growth through precincts designed for businesses today and into the future,” Mr Norris said.

The new industrial pipeline builds on the Airport Industrial Park, a 100-hectare precinct where the first stage is fully leased.

Stage two, launched to market in April, comprises 25 hectares and is progressing with 27,000 square metres of customisable facilities for up to 10 tenants. Around 40 per cent of the lettable area had been pre-committed following the launch, according to the airport.

The facilities are targeting a 5 Star Green Star rating and are expected to reach practical completion by mid-2027. Existing businesses in the precinct include Australia Post, Aramex, Martin Brower, Sadleirs, Tile One and 4WD Supacentre.

The airport precinct appeals to industrial occupiers due to its combination of 24-hour operations, potential airside access and connections to major roads, the Gateway Motorway and the Port of Brisbane. The corporation is also offering flexible lease arrangements and custom-built facilities.

Multibillion-dollar five-year plan

Industrial property forms just a part of the airport’s broader commercial strategy.

Its Future BNE program involves more than $5 billion in investment over five years, spanning terminal upgrades, infrastructure and development of its commercial land. The airport says more than 150 projects are planned across the precinct.

A major example of the broader strategy is a 51-hectare site directly opposite the International Terminal earmarked for a mixed-use destination. Brisbane’s first Costco warehouse has been secured for the precinct, with the retailer planning a 15,600-square-metre warehouse and fuel station on a 6.7-hectare site, scheduled to open in late 2029.

The Costco development is an early step towards establishing a broader commercial destination, with substantial land remaining available for other businesses.

Gert-Jan de Graaff, Chief Executive, Brisbane Airport, has described the retailer’s commitment as the beginning of a new chapter for the precinct.

The airport’s future development possibilities could encompass hotels, shopping centres and data centres, although at this stage these are best viewed as potential uses rather than confirmed projects.

The corporation’s 2026 Master Plan, approved by the federal government in June, sets out a longer-term framework for the airport’s evolution, balancing aviation growth with improved ground transport connectivity and broader economic development.

For property investors and occupiers, the scale of the landholding and the airport’s infrastructure links position Brisbane Airport as a significant participant in the region’s commercial property market, rather than simply a landlord of aviation-related facilities.

With industrial vacancy tight, existing precincts fully occupied, and further projects in the pipeline, Brisbane Airport is positioning its property portfolio as a central part of its next phase of growth.