BML marks 20 years ownership of Brisbane Markets

In September 2002, the sale of the Brisbane Markets from the Queensland Government to Landacq Limited (which subsequently became Brisbane Markets Limited) was settled, heralding in a new era for Queensland’s fresh produce wholesaling sector.

6 August 2002 – Minister Henry Palaszczuk and Queensland Treasurer and Deputy Premier, Hon. Terry Mackenroth signing the contract for the sale of the Brisbane Markets, with Landacq Limited Chair, Tony Joseph and Director Anthony Kelly.

At the time, the $74 million sale was described as an exercise in strategy, vision and perseverance. Now 20 years on, the proof is in the fruit salad as Brisbane Markets Limited (BML)’s management of the site has seen total asset value increase to $506.97 million at 30 June 2022.

BML Chair, Anthony Kelly, said that BML has invested over $220 million in infrastructure and development projects at Brisbane Markets over the past 20 years, an investment that could only be achieved through confidence in the industry and in the Rocklea site.

“I believe that confidence grew exponentially from acquisition, with investors knowing management of the site would improve substantially,” Mr Kelly said.

“I was President of Brismark at the time of acquisition. I loved the passion of those who put up their hands to contribute and was proud to be part of something so exciting,” he said.

Interest in Queensland’s only Central Market was strong, with both Australian and international bidders from within and outside the fruit and vegetable sector bidding for the right to own and manage the site.

Ultimately, the sale was a milestone for Queensland’s horticulture industry, handing control of the state’s most important wholesale marketing and distribution hub for fresh fruit, vegetables and flowers to the Wholesalers, Growers and Retailers from across Queensland who supported and invested in the winning bid.

“We’ve come a long way over the past 20 years and I commend the dedication and vision of all my fellow directors who have served on the BML Board over the past two decades,” said Mr Kelly.

“I also extend my heartfelt thanks to BML’s Managing Director and CEO, Andrew Young, the company’s management and staff who have delivered on the Board’s vision.

“Finally, I of course thank our loyal investors whose confidence and support have been unwavering, and without which we could not have made a reality the aspirations of what some considered to be merely a ragtag bunch of wholesalers from Rocklea. And we’re just getting started,” he said. Close

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