Viadux, a leading national manufacturer and supplier of water and environmental solutions, has committed to a 3,168 sqm brand new facility in Enterprise Industrial Park in Molendinar, in one of the most significant leases on the Gold Coast in recent years.
Enterprise Industrial Park which occupies a land area of 33,600 sqm is currently the largest industrial speculative development on the Gold Coast. Construction of stage one comprising 8,116sqm was completed in June this year.
The large facility has the ability to be split into multiple tenancies of around 1,000sqm each, with Viadux taking up to 40 per cent of the total space. The remaining 5,200sqm is currently under negotiation to a national tenant.
Pat Cavanagh and Daniel Coburn of Colliers International who are exclusively marketing the property negotiated the $364,000 per annum net lease with Viadux, achieving about $115 per sqm net. The lease term is five years with a five year option.
Mr Cavanagh said Viadux were looking for new space on the Gold Coast, as they needed to consolidate their Brisbane and Gold Coast operations into one location.
“Enterprise Industrial Park offered the only high level business and warehousing solution to their needs, being the only brand new corporate industrial facility of its kind currently available on the central Gold Coast.
“It features sophisticated logistic efficiencies including 10 metre internal clearance, clear span warehouse with natural lighting, drive in/drive out access for semi and B-Doubles, container set down areas, loading and unloading areas, brand new air conditioned offices and fully secured site with gated access. Viadux also had new staff amenities and about 400sqm of office space included as part of the lease deal.
“The developers, a local family purchased the site back in 2013 for $6.05 million off Southport Timbers and were keen to embark on a speculative development as they felt the market was moving in the right direction," Mr Cavanagh said.
"It will certainly pay dividends once we finalise the current offer on the table, which will see the balance of the stage one leased.
“Stage two is due to commence construction soon with the expected completion mid 2016. It will consist of three buildings of about 3,000sqm each and include similar features as stage one. We are fielding enquiries for stage two already, with one tenant currently considering the whole 9,000sqm.
“The interest expressed so far is evidence of the maturing Gold Coast industrial market with larger industrial users seeking good quality industrial space.
“Considering there are limited industrial premises of this calibre available, we are getting increasing enquiry from savvy tenants who are trying to achieve operation efficiencies for their business.
“This type of speculative development is happening throughout the major cities of Australia, but has not been a common occurrence on the Gold Coast until now. We are in need of the same quality offering considering national tenants are seeking space here.
“Enterprise Industrial Park is the only such development offering sophisticated warehousing efficiencies. And with one lease deal done and a second almost completed, the developer is moving ahead on stage two with confidence,” said Mr Cavanagh.
