A unique opportunity has arisen in the real estate market with the listing of Incitec Pivot Limited’s 58ha Gibson Island site at Murrarie on the Brisbane River. This one-off piece of property was announced for sale in November 2024, following IPL’s decision to spin off its fertiliser business and retain its Dyno Nobel divisions, which focus on explosives.
The Gibson Island site ceased urea manufacturing operations in January 2023 and will be relocating its primary distribution center for imported fertiliser to a new facility at the adjacent Port of Brisbane later this year. The Colliers team, consisting of Simon Beirne, Rob Joyes, Peter Evans, and James Wilkie, is now actively seeking international expressions of interest for the site, with a closing date of March 13.
“This site presents an unparalleled opportunity to develop a world-class logistics estate in the heart of the Australia TradeCoast precinct, potentially transforming the landscape of Brisbane,” stated Simon Beirne, Chief Executive of Colliers Queensland. Australia TradeCoast is an industrial zone that includes Brisbane Airport and the Port of Brisbane.
With no remaining land available in the TradeCoast area, the Gibson Island site represents the last major development site for industrial purposes in Brisbane of this scale. It boasts the largest industrial development landholding with deepwater wharf access for sale on the Eastern Seaboard, generating significant interest from developers and occupiers alike.
Strategically located within the Australia TradeCoast precinct, the site offers direct access to the Port of Brisbane, making it a highly sought-after development opportunity in a market constrained by land availability. With 1165m of Brisbane River frontage, the site is well-positioned to capitalize on Brisbane’s status as Australia’s third-largest container port, handling a variety of bulk cargo including grain, fertiliser, and coal.
Originally developed in the 1960s for fertiliser manufacturing, Gibson Island was Australia’s only producer of urea using domestic natural gas. However, with the increasing challenges in turning a profit due to the boom in gas exports from Queensland, the site ceased operations in early 2023. Discussions were held with Fortescue Future Industries for the redevelopment of the site for green ammonia production, with preliminary design funding support from the Australian Renewable Energy Agency. Unfortunately, the project did not proceed as planned.
In conclusion, the Gibson Island site presents a rare and valuable opportunity for investors and developers looking to capitalize on its unique features and strategic location within the Australia TradeCoast precinct. With unparalleled potential for development and access to key transportation infrastructure, this site is poised to attract significant interest and investment in the market.
