Brendale’s $152 million industrial estate fast-tracked

Brendale’s $152 million industrial estate fast-tracked
Brendale’s $152 million industrial estate fast-tracked

Construction has commenced on the next stage of the $152 million industrial estate New Base in Brendale, Queensland.

Moreton Bay-based AVID Property Group general manager Bruce Harper turned the first sod on Stage 7B at the site.

“In the last 12 months, we have seen good activity from both investors and owner occupiers with 100% of lots sold at New Base,” Harper said.

“The demand for land continues, so we expect the lots released in this next stage to perform just as well.”

New Base marketing agents Dillon Murphy from CBRE Industrial and Mark Horgan from Knight Frank said lots in the area were being sold as quickly as they were being constructed.

“Industrial is currently one of the strongest performing sectors in the commercial property market,” said Murphy.

“Industrial land sales are up from this time last year, which are reflected by peak rates close to those of pre-GFC days. 

“We’ve also seen a 25-30% increase in take up rate of stock in the last 12 months and there’s every sign that this will continue well into the future.”

Horgan said spiking sales were being driven by a number of factors, including A-class stock, location and low interest rates.

“More and more businesses are performing corporate business activities from their industrial facilities than they have before. Businesses are quite discerning in their appearance and are seeking more desirable buildings to portray their corporate image, so the days of older, low height metal clad sheds are now becoming obsolete,” he said.

“These are state-of-the-art facilities with fit-outs that rival some inner-city offices, with some tenants investing up to $1 million on interior office component alone.

“And it’s not just about looks – tenant and owner-occupiers are now seeking more efficient spaces, with increase in warehouse heights to accommodate importing requirements and racking capabilities as well as improved access to facilitate easier truck movements.

“We’ve also had businesses reporting improved staff retention, a reduction in staff travelling time and fewer sick days due to relocation in areas like Brendale.”

Moreton Bay Regional Council Mayor Allan Sutherland said construction on the next stage of New Base reinforced the Moreton Bay Region’s status as Queensland’s strongest economy.

“You only have to look at the businesses that already call New Base home, like Super Retail Group, Aldi and VISY, to see how strong our region’s economy is,” he said

“This is an exciting project that will generate more than 100 local jobs during construction, and once complete is expected to provide vital long-term employment opportunities for residents throughout the region.”

Sutherland said stage 7B would add another element to the existing economic opportunities in Brendale and had no doubt it would be a sought after location with its close proximity to major transport and trade corridors like the 12km Redcliffe Peninsula Line as well as the new Mill at Moreton Bay university precinct just 5km away.

Set on 85 hectares of land and comprising 107 lots, civil construction of Stage 7B at New Base has commenced.

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