Lane Cove hot for large industrial
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By Charlotte Cossar |
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| Lane Cove is emerging as a location of choice for large industrial occupiers, including Harley Davidson. |
Geoff Hunt of Colliers International says Lane Cove is benefiting from larger buildings and land holdings, easy access to the CBD and Orbital, and being a prime location between North Ryde and Artarmon.
The evolution of North Ryde to become Australia’s premier business park precinct and the lack of large options in Artarmon has added to its popularity, he says.
“There are many large traditional occupiers who prefer to be based on the North Shore for any number of reasons,” Mr Hunt says.
“Some want to be close to clients in the city or North Ryde, while others want to keep everyone under one roof and know they will lose staff if they move further out.”
Mr Hunt cited the example of ISS/Tempo Services which moved from Chatswood and were originally focused on finding space in North Ryde, but couldn't find a suitable property.
It now occupies close to 6,000sq m in Lane Cove.
Other large occupiers in the area include Doubleday, which lease approximately 6,800sq m, Medtel , SC Johnson, Mail Marketing Works, and Atlab, which was forced to move from Artarmon due to a lack of large space to accommodate growth.
Mr Hunt says large existing buildings don’t exist in Artarmon, where the typical land and building size is 1,000sq m to 2,000sq m, and are becoming non-existent in North Ryde.
“Current development and re-development in North Ryde is not incorporating warehousing – or if it does it equals less than 10 per cent of the total development,” says Mr Hunt.
“Meanwhile, in Artarmon the cost of land means it’s only feasible to develop strata units.”
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