The Gold Coast's Empire Industrial Estate in Yatala has sold 21 sites for a total of $16.5 million.
The sites ranged from 2,200 square metres to 6,221 square metres and were sold to a mix of owner occupiers and investors. The sites were built finished to level one compaction, flood free and ready for NBN connectivity - with remaining lots available from approximately $270 to $325 per square metre.
A number of sales were to purchasers choosing to take up multiple lots to take advantage of low interest rates and improving market conditions.
The strong sales activity is a direct result of the developer's effort to provide a product that meets current market demand, with every lot specifically designed to allow maximum efficiency and functionality.
"The upside to an industrial investment is the tenant is responsible for paying the outgoings and maintaining the premises. The lease terms can often provide a long term income stream, with five to ten year leases negotiated on new premises," Empire Industrial Estate stage four agent Paul Bates said.
"The buyers who have purchased multiple lots are generally looking to boost their Self-Managed Super Fund and have recognised that developing new buildings on prime industrial land will result in one of the best performing assets in the current Gold Coast market.
"Yatala still represents excellent value for money in comparison to other industrial areas on the Gold Coast, such as Ashmore and Molendinar, where land prices have reached around $450/square metre over the past 12 months," he said.
Empire Industrial Estate is being developed by The Stephens Group, spearheaded by Gold Coast locals Tony and Phillip Stephens.
Tony Stephens said the estate not only attracted local Gold Coast businesses, but also companies from greater Brisbane and interstate involved in manufacturing, materials handling and distribution.
"Empire Industrial Estate is the largest new industrial precinct on the Gold Coast and to this end we have designed the development to cater for all tiers of business - from large scale, national operators through to smaller, regional companies," he said.
"Access and connectivity are the two key drawcards for our purchasers. We have invested a lot of time and resources into the design of this estate with all roads being rated for B-Double access, and the whole site is serviced by a network of 23 metre wide link roads, double width footpaths and bike lanes.
"Later this year we are aiming to establish a new commercial precinct within Empire Industrial Estate, complete with a service station and cafe to add to the convenience of working here."Mr Stephens said designs are being finalised for buildings in stage four, which are expected to start in April and be completed in the last quarter of 2017.