GPT Group
(ASX:GPT) is set to develop a logistics facility in South East Queensland for a total cost of $84.6 million.
The property trust has also secured a 15 year lease to Toll Group who will occupy the warehouse and office once it is completed in 2014.
GPT says the acquisition is consistent with its strategy to increase its weighing to logistics and business parks to 15 per cent of its portfolio.
The company has acquired more than $200 million of industrial facilities in 2012.
GPT generated a net profit of $275 million in the six months to the end of July, 2012.
