This article is from the Australian Property Journal archive
North Queensland based construction, property and waste management company, the CEC Group has bought a parcel of land in Bohle, Townsville for $16 million.
The 53-hectare parcel of land has earmarked for industrial use and is the largest industrial land sale in the Twin Cities.
CEC Group’s chief executive Roy Lavis said Townsville is buoyant and dynamic regional city and the acquisition forms an integral component in the overall expansion of the group in the region.
An application has been made for a 100-lot industrial subdivision, whch will be accessed from both Ingham Road and Enterprise Street.
“There is a very limited supply of suitable industrial land at present. There is demand from large organisations looking to expand into North Queensland… we are proposing a range of options including smaller lots through to large 2 hectare blocks.
“There will be options for design and construction and turn-key lease back properties,” he added.
The sale was negotiated by Townsville based Ferry Property industrial and commercial sales consultant Todd Walsh.
Walsh said proposed subdivision will be a signature industrial business park in Townsville.
Walsh said the most recent sales of developed blocks within the Bohle/Mount St John area have edged closer to $200 per sqm.
“In some areas of the city, industrial land prices have tripled within two years. Retail sales rates such as these have never been seen before in Townsville and this typifies the strong growth that the region is currently experiencing,” he added.
Australian Property Journal
