This article is from the Australian Property Journal archive
THE Queensland government and national garden and plumbing supply company Homan Industries are among the new tenants that have taken up more than 26,000 sqm of offices and warehousing at an Eagle Farm estate.
Four new deals have been brokered by Cushman & Wakefield’s Myles Fredericksen and Bevan Galloway within the 120-hectare TradeCoast Central industrial precinct, owned and operated by TradeCoast Central Pty Ltd., and which offers access to major transport links, including the Brisbane airport, Gateway Motorway, and Port of Brisbane.
The transactions include one pre-commitment and three speculative developments. The tenants are relocating or expanding from older, smaller facilities.
Neta Tire Service & Sales has signed a 10-year lease for an 8,600 sqm design and construct building at Lot 38 Charles Ulm Place, which includes 600 sqm of commercial grade ground floor office, 8,000 sqm of high bay warehouse, and 3,000 sqm of hardstand.
With the residual land at Charles Ulm Place the developer has also built a 4,000 sqm speculative building on a one-hectare site, which has been leased to a Queensland government tenant for a five-year term. The building features 400 sqm of office over two levels and a 3,600 sqm high bay warehouse.
Holman Industries has committed to a speculative 7,500 sqm freestanding facility on a 1.6-hectare site on Clyde Gessel Place, while an international freight forwarder has signed on for seven years at 6,000 sqm within a separate 14,000 sqm speculative warehouse development at 313 William Farrior Place, where one of the developer’s existing tenants is expanding into the other 8,000 sqm tenancy.
Fredericksen said the strong demand for commercial and industrial properties in the north TradeCoast are expected to continue, leading to more design and construct and pre-commits to speculative developments.
With record low vacancy rates in the area, rental rates are also projected to increase.
