This article is from the Australian Property Journal archive
GORDON Corp has secured one of the central Gold Coast industrial precinct’s last infill sites for more than $20 million, and intend to redevelop the 85-hectare site for industrial and residential use.
An amalgamation of eight lots, the site is located at Eastlake Street, Hickey Way and Petherbridge Avenue in Carrara and consists of 27 hectares of industrial land off Eastlake Street and a residential component off Hickey Way.
The property was acquired in an off-market deal brokered by Pat Cavanagh and Marlon Crawford of Colliers.
Gordon Corp will offer the industrial subdivision to the market first, which will offer a mix of around 23 lots for sale or lease ranging from 2,000 sqm to 1.5 hectares.
“This will be the only industrial land subdivision offered to market within the central Gold Coast industrial precinct in recent times so we expect huge interest considering demand for industrial land in the region continues to outstrip supply,” Tim Gordon, director of Gordon Corp said.
The development is currently in approval with Gold Coast City Council, and the land is expected to be ready for build in early 2020. Gordon Crop will manage the development of purposely designed and built premises for pre-lease commitments.
Cavanagh and Crawford are marketing City Link via expressions of interest, and said demand is coming from the local businesses who are “encouraged by the recent election result to expand their businesses and secure properties with confidence as they have faith in the way government will run the economy and local infrastructure”.
Gold Coast employment in construction, transport and logistics sectors is expected to grow by 14% and 16.5% respectively over the next five years to May 2023, while the Gold Coast is expected to receive 256,402 new residents over the next 25 years.
City Link Industrial offers easy access to the M1 Pacific Motorway via Eastlake Street to the north, and will provide access to the south via the proposed Eastlake Street upgrade.
Carrara’s logistics precinct is home to a number of big names, including Gold Coast City Council’s maintenance depot, Visy Recycling, CPG Mineral Technologies and CSR Plasterboard.
Australian Property Journal
