Construction commences on Enterprise Industrial Park spurred on by strong market conditions and large tenant demand. Enterprise Industrial Park development in Molendinar is a new industrial revolution for the core Gold Coast industrial precinct, offering quality and size like never seen before in the industrial market.
Being the only brand new industrial development on the Gold Coast, the site is due to attract many large tenants with the first stage construction commencing earlier this month.
Pat Cavanagh, Director of Industrial Colliers International, who is marketing and leasing the development with his colleague Daniel Coburn, said the first stage is due for completion in February 2015 and will comprise a large modern sophisticated industrial building covering 8,116 square metres, with the ability to be subdivided into areas of 500 square metres and upwards.
“We have only just launched the project and we are already inundated with large tenant requirements ranging from 1,000 square metres to 17,000 square metres.
“It is highly likely that the first stage will be pre committed prior construction completion, and as this happens the owners will be launching the second stage offering an additional 9,000 square metres of warehouse space,” Mr Cavanagh said.
Mr Cavanagh said most developers would generally seek pre-commitment before undertaking construction particularly for a project of this size.
“The Hutchins family who are local developers and business owners, made a decision to spec build given the remerging demand for large warehouse, distribution, logistics and manufacturing space.
“They took a ‘build it and they’ll come approach’, after a number of large tenant requirements of 4,000 square metres and over couldn’t be filled last year.
“The owners are confident in the Gold Coast industrial market and feel the time is right as it is finally entering a period of rejuvenation after the GFC with large tenants seeking bigger and better requirements.”
The development is located on a 33,600 square metre site at 27-29 Industrial Avenue in Molendinar. The building will offer high visibility to Olsen Avenue, and will be accessed via Industrial Avenue and Enterprise Street offering drive in/drive out capability.
The construction of the first stage, which is due for completion in February 2015, is being project managed by Nick Ray from One Sector Constructions.
Mr Cavanagh says the final product will be the most superior industrial facility within the Gold Coast market.