An expressions of interest campaign has been opened for a prime industrial precinct in industrial-stock-starved south-east Queensland.
The development is stage one of Yarrabilba’s new Mixed Industry Business Area with 15 blocks available, ranging between 1000sq m to 4710sq m.
Yarrabilba is a masterplanned community by Lendlease and lies in the growth area between Brisbane and the Gold Coast.
JLL associate director for industrial Harry Homan, who is marketing the land alongside Donnelly and Associates, said the area had been practically devoid of available land.
“We’ve seen demand—and rates—for industrial property grow significantly during the past 12 months,” he said.
“Aside from one small-lot land release in Stapylton, which only has a few blocks left, there isn’t any competition for this kind of industrial offering.
“As the closest precinct to the south of Brisbane, reaching out to its western industrial precincts and then looking towards the Gold Coast, it presents an impeccable location.
“It’s also been strategically positioned near Yarrabilba’s future town centre for easy access to major arterial roads, including the Mt Lindesay Highway.”
As pressures remain on industrial, the ‘golden child’ of assets, businesses are looking at other areas for growth, Homan said.
“Certainly, where businesses aren’t tied to a particular franchise location or a piece of major infrastructure like the Port of Brisbane, this kind of location in a masterplanned community can be an attractive offering,” he said.
The MIBA parcel was pre-approved for a wide variety of uses, from showrooms and a garden centre to entertainment, recreation and low and medium-impact industries.
He sees particularly strong potential for showrooms, warehousing and self-storage.
“Agricultural supply premises or showrooms would also be a strong drawcard as there is a lot of farmland in the surrounding areas,” he said.
Civil works for the precinct were set to start about July this year, with completion targeted for mid-2024.
The expression of interest campaign is due to close on July 12th.
