Construction has commenced on the next stage of New Base, the $152 million industrial estate in Brendale, with local government joining developers to turn the first sod on Stage 7B at the site on October 26.
Moreton Bay Regional Council Mayor, Cr Allan Sutherland, Deputy Mayor, Cr Mike Charlton, and Cr Mick Gillam joined AVID Property Group General Manager Bruce Harper, who said there was increasing positive sentiment in the market towards industrial land sales, with demand proving to be steady in key areas of Brisbane.
“In the last 12 months, we have seen good activity from both investors and owner occupiers with 100% of lots sold at New Base,” Mr Harper said.
New Base marketing agents Dillon Murphy from CBRE Industrial and Mark Horgan from Knight Frank said lots in the area were being sold as quickly as they were being constructed.
“Industrial is currently one of the strongest performing sectors in the commercial property market,” said Mr Murphy.
“Industrial land sales are up from this time last year, which are reflected by peak rates close to those of pre-GFC days.
“We’ve also seen a 25-30% increase in take up rate of stock in the last 12 months and there’s every sign that this will continue well into the future.”
Mr Hogan said more businesses are now performing corporate business activities from their industrial facilities.
"Businesses are quite discerning in their appearance and are seeking more desirable buildings to portray their corporate image, so the days of older, low height metal clad sheds are now becoming obsolete,” he said.
“We’ve also had businesses reporting improved staff retention, a reduction in staff travelling time and fewer sick days due to relocation in areas like Brendale.”
Moreton Bay Regional Council Mayor Allan Sutherland said construction on the next stage of New Base reinforced the Moreton Bay Region’s status as Queensland’s strongest economy.
New Base is already home to a number of businesses including Super Retail Group, Aldi and VISY, and Mayor Sutherland said the project will generate more than 100 local jobs during construction, and is expected to provide vital long-term employment opportunities for residents throughout the region once complete.
Stage 7B is also expected to become an industrial attraction for many, due to its close proximity to major transport and trade corridors like the 12km Redcliffe Peninsula Line and the new Mill at Moreton Bay university precinct, which is just 5km away.
Civil construction of Stage 7B at New Base has commenced on 85 hectares of land, comprising of 107 lots.