Townsville industrial sector shows early signs of recovery: HTW Industrial

Townsville industrial sector shows early signs of recovery: HTW Industrial
Townsville industrial sector shows early signs of recovery: HTW Industrial

The industrial market is starting to show early signs of recovery in some sectors, however it is not yet sufficiently widespread to call the overall market as being at the start of recovery, according to the latest report from Herron Todd White.

They found that to date in 2019, the biggest settled industrial sale to have occurred was for a large industrial complex on a 1.34 hectare site occupied by two tenancies.

The sale price of $3.3 million reflected a yield of just over nine per cent with a WALE of 2.01 years.

The report noted, "there continues to be interest in manufacturing and heavy industry big asset property with strong lease fundamentals."

"several transactions occurred during 2018 reflecting yields between eight and 9.6 per cent."

"There are a number of big asset properties currently on the market priced between $7 million and $10 million."

"We have also seen a good number of industrial land sales during 2019 on a range of lot sizes from 2,200 square metres to over one hectare."

"A number of these have occurred in the Northern Link industrial estate, which are likely to be developed for distribution and service industry users," they report concluded.

Tags: 
Townsville Industrial Market

Comments

Be the first one to comment on this article
What would you like to say about this project?