An Australian owned and operated energy storage company has secured a brand new speculative built warehouse facility in Darra to house their operations.

RedEarth Energy Storage has leased the 2,024sq m space located at 15 Fienta Place for $120 per square metre, in a seven year deal negotiated by Chris Young of Savills.

Executive of Savills Industrial and Business Services, Chris Young, said the transaction was negotiated with a fit-out incentive in place.

“The fitout was an integral part of the agreement and fortunately the owners could deliver the property to their specifications,

“An ‘innovation centre’ will be built, from which RedEarth will conduct research and development, there will also be a control room built for the monitoring of its battery fleet, plus a staff training room,” Mr Young said.

RedEarth engineer and manufacture a range of high-quality solar battery systems, including both on and off-grid storage and hybrid energy storage.

Executive Director of RedEarth Energy Storage, Charles Walker reports that they plan to make and sell over $70 million of Australian-made energy storage systems by 2022.

Mr Young said that projectors like this are what led RedEarth to outgrow their previous site.

“They had experienced rapid growth and raised several million dollars’ worth of capital to keep up with the demand,” Mr Young said.

The property is set to benefit from the next stage of the Ipswich Motorway upgrade, which will see a new off ramp onto Kimberley Street built.

“This will make the site accessible from the motorway within minutes,” Mr Young said.