Logistics driving demand in Caboolture industrial market
Transport and distribution companies continue to drive demand in Queensland’s industrial property sector, with construction on a new corporate park at Caboolture fast-tracked to keep pace with the interest.
The developer of the new Corporate Park East says strong interest in the estate’s recently completed first stage has prompted them to roll out stages two and three ahead of schedule.
According to Ray White Commercial lead agent Chris Massie, the first sales in the initial 19-lot release were all snapped up by logistics businesses.
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“We have been focused on helping businesses first and are excited that there will be local companies operating on site from day one,” Massie says.
Massie says that with the original Corporate Park estate almost full, developers are recognising an opportunity to capitalise.
“The adjoining Corporate Park estate is at 96% capacity, so we expect builders and developers will quickly be looking to provide new buildings for that pent-up demand,” he says.
Corporate Park East’s first stage comprised mainly smaller lots, but the new stages are expected to accommodate larger national businesses, with freehold lots available up to 30,000sqm.
Ray White Commercial senior analyst Ashley Rees says key infrastructure projects and development announcements are seeing more and more major tenants and operators seeking a presence in the area.
“There has been a fundamental shift in the attitude of national businesses who now acknowledge that a presence in this Northern Corridor is a strategic necessity,” Rees says.
“They have analysed the implications of future growth projections down to the number of roof tiles needed and are quickly moving to capitalise.”
