New airport parking business at Kingsford Smith Drive takes on competitors by charging dramatically lower rates

by admin | 14th March 2011

Kingsford Smith Airport Parking has taken a 5+5+5 year lease on a property at 769 Kingsford Smith Drive, Eagle Farm, and will be paying $260,000pa in rent. King & Co agent David Knox handled the transaction while the lessor is undisclosed

This site comprises a 3,674m2 hangar style warehouse on 7,965m2 of GI land and is of brick and metal clad construction. Other features include exposure to Kingsford Smith Drive, proximity to the airport, the Port of Brisbane, the Cruise Terminal, the Gateway as well as the Inner City Bypass to the CBD. It also has a new roof, full insulation and provides 24 hour security via patrols, trip alarms and CCTV. Parking is either undercover or outdoor

According to Knox, the new tenant, which is owned by two large logistics companies, “is taking on the area’s six existing off airport competitors by charging substantially less than they do and, in addition, is half the price of parking at either the domestic or international terminals.” Other attractions include a free shuttle service, including to the Cruise Terminal, car cleaning and detailing

Boding well for its future success, company co-Principal, Russell Hatton, says “the company, which only opened late in January, had only two cars as of the first weekend and over 200 by the second

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