IN THE KNOW - Morayfield & Caboolture CBD Q1 2019 | Ray White Commercial | Northern Corridor Group

M O R AY F I E L D & C A B O O LT U R E C B D

CHRIS MASSIE COMMERCIAL PRINCIPAL 0412 490 840

ASHLEY REES SENIOR SALES & LEASING 0411 707 410

AARON CANAVAN SALES & LEASING EXECUTIVE 0447 744 948

BLAKE PRIMROSE LEASING ASSOCIATE 0423 555 043

MORETON BAY

SUNSHINE COAST

PINE RIVERS

3/125 Morayfield Road Morayfield QLD 4506

1/172 Brisbane Road Mooloolaba QLD 4557

Level 1, 104 Gympie Road Strathpine, QLD 4500

T 1300 255 075 F 1300 778 887

T 1300 255 075 F 1300 778 887

T 1300 255 075 F 1300 778 887

ONE TEAM - THREE LOCATIONS

1 ST QUARTER 2019

DIRECTOR’S U P D AT E S

NORTHERN CORRIDOR GROUP

CHRIS MASSIE

MICHAEL SHADFORTH

The launch of new estates like Aura in Caloundra and Corporate Park East, Caboolture as well as the continued expansion of Brendale, will provide some relief but we expect demand to continue

As a child of the Sunshine Coast and now a father myself, it is the diverse education and employment opportunities available to the younger generation that I believe will have the greatest long-term impact.

outstripping supply through 2019.

Director Moreton Bay

DIRECTOR UPDATE

ONE TEAM - THREE LOCATIONS

Our expansion into the Brendale and North Brisbane markets through our Pine Rivers office has provided some interesting insights, with the strength of industry across the North Brisbane and Moreton Bay regions being the defining take-away of 2018 for me. On review of our transactions across the region, the lease and sale of industrial buildings accounted for close to 60% of all deals, outperforming office, retail, showrooms and hospitality combined.

The implications for this trend becomes concerning when combined with the analysis of properties actually available across the region. The launch of new estates like Aura in Caloundra and Corporate Park East, Caboolture as well as the continued expansion of Brendale, will provide some relief but we expect demand to continue outstripping supply through 2019.

Opportunities exist across all sectors this year and we will be closely tracking the trends. At the start of 2018 our team had set ourselves the goal of being the commercial property experts for the Northern Corridor, so much so that we changed our name to reflect this. We are proud of the work done to date and promise to continue providing you with the knowledge, resources and support to ensure your next property decision is made from an informed position of strength.

.

Director Sunshine Coast

The first quarter of 2019 for the Northern Corridor is set to continue the generally positive trajectory we witnessed across 2018. While housing prices in the southern capitals have taken a hit, many are still capitalising on the price disparity to sell up and move north. This is reflected in our domestic migration numbers that have parts of the Northern Corridor among the fastest growing precincts in the country.

The result is a solid baseline increase across almost all measurable sectors of our market, but it is the intangible benefits that excite me just as much. As a child of the Sunshine Coast and now a father myself, it is the diverse education and employment opportunities available to the younger generation that I believe will have the greatest long-term impact.

Recent infrastructure programs like the Undersea Cable, University Hospital, Sun Central, the international airport and Aura has seen the Sunshine Coast quickly become a serious contender on the global economic stage, and I for one am excited to see where we are headed.

RAY WHITE COMMERCIAL NORTHERN CORRIDOR GROUP ANNUAL SALES & LEASING Annual Sales $70,363,885 47 Industrial 19 Retail 10 Office 19 Land 5 Other

Annual Leases $6,298,459

96 TOTAL SALES

67 Industrial 47 Retail 36 Office 3 Land

157 TOTAL LEASED

SPOTLIGHT ON MORAYFIELD & CABOOLTURE CBD NORTHERN CORRIDOR GROUP

THIS MONTH’S FEATURE ARTICLE WRITER IS AGENT ASHLEY REES OF THE NORTHERN CORRIDOR GROUP

YOUR AREA UPDATE The activity across the Caboolture/Morayfield retail and office market over the last quarter has been solid, without being spectacular. For the office market, the government funded professional services continues to drive the bulk of the requirements. These come with a very specific list of compliance requirements that some of the older facilities are not able to meet without significant retro-fit investment by owners. This investment can often prove lucrative, but requires an element of “build it and they will come” to ensure timelines can be met.

The exodus of the big 4 banks from King Street in recent years left a glut of office space with custom fit outs that suited very few tenants. This trend has been repeated across regional centres, as branches downsize due to online banking and centralisation or outsourcing of administration teams into larger hubs. The good news is our leasing team has now filled the last of this remaining space, with a State Government department committing to the whole of the former NAB office at 7 Morayfield Road.

Our predictions for this precinct: The geographical expansion limitations of Morayfield Road and the footprint constraints of the Caboolture CBD will pressure owners and tenants to continue to compromise function and fit out to maintain their presence in a rapidly expanding area. Lack of rental growth, increasing construction cost and the inability of government tenants to pre-commit to unbuilt facilities in the office market will restrict the ability of developers to produce new in-fill development.

Convenience retail will remain strong in well located, high traffic areas with quality anchor tenants (fuel, supermarket) but secondary retail will continue to tread water.

Strong population projections are an undeniable force that will ensure long term growth for property owners able to weather the storm of medium term vacancy concerns.

Retail options along Morayfield Road remain quite limited, though minimal enquiry indicates there is not a great deal of supply/demand disparity.

Even in this precinct, lease deals have been dominated by industrial and service industry users taking up secondary space, as opposed to more traditional high visibility retail. This is reflected in our leasing team’s Active Enquiry Register, which currently has 39 industrial requirements, vs 10 office and 10 retail.

Coffee

Lowe r Ki ng St r ee t M e nu

One positive indicator is the level of developer enquiry for on and offmarket sites with potential for convenience, fuel and fast food uses through King Street and Morayfield Road. The new Starbucks on Lower King Street is sure to do a booming trade with the battle-weary medical staff at the nearby hospital and a similar development is nearing completion on Bellemere Road that is perfectly located to capitalise on that expanding western catchment.

VA C A N C I E S SIZE

AV E R A G E R E N T

THIS QUARTER

SIZE

THIS QUARTER

0-200m2

25

0-200m2

$338

200-500m2

5

200-500m2

$315

>500m2

3

>500m2

$294

MORAYFIELD & CABOOLTURE CBD ACTIVITY NORTHERN CORRIDOR GROUP

Ray White Commercial - Northern Corridor Group RESEARCH TEAM

LISTED SALE/ LEASE

The following is a summary of the key Listed, Leased and Sold properties

ADDRESS

SUBURB

TYPE

BUILDING AREA (M2)

LAND AREA (M2)

PRICE P/A

NET OR GROSS

SALE

4/64 William Berry Drive

Morayfield

Office/Retail

408m2

-

POA

-

SALE

9/30-36 Dickson Road

Morayfield

Warehouse

251m2

-

$469,000

-

SALE

4/19 Lear Jet Drive

Caboolture

Office

130m

-

POA

-

SALE

8 Lee Street

Caboolture

Office

285m2

762m2

$825,000

-

SALE

12 Station Road

Morayfield

Office

240m2

9,798m2

POA

-

SALE

179 Oakey Flat Road

Morayfield

Land/Development

-

1000m2

POA

-

SALE

4/30-36 Dickson Road

Morayfield

Warehouse

-

$550,000

-

SALE

11-13 Bertha Street

Caboolture

Office

1,358m2

1,622m2

POA

-

LEASE

2/12 Annie Street

Caboolture

Office

194m2

-

LEASE

3/12 King Street

Caboolture

Office

603m2

-

LEASE

3/99-103 Morayfield Road

Morayfield

Retail

77m

2

-

$30,000

Net

LEASE

8/6-12 Dickson Road

Morayfield

Warehouse/Office

212m2

-

$35,520

Net

LEASE

33/8-22 King Street

Caboolture

Office/Retail

174m2

-

$44,790

Net

LEASE

4/156 Morayfield Road

Morayfield

Office/Retail

210m2

-

$86,400

Net

283m

2

2

$58,200 NEG

Net -

SOLD & LEASED LEASED /SOLD

ADDRESS

SUBURB

TYPE

AREA (M2)

SOLD PRICE LEASED P/A

NET/ GROSS

$/SQM

SOLD

10/30-36 Dickson Road

Morayfield

Industrial

240m2

$415,000

-

$1,729

SOLD

9 King Street

Caboolture

Office

411m2

$1,360,700

-

$3,310

SOLD

17 Hasking Street

Caboolture

Office

540m2

$2,150,000

-

$3,981

LEASED 7 Morayfield Road

Morayfield

Office

601m2

POA

-

-

LEASED 1/287-289 Morayfield Road

Morayfield

Industrial

280m

2

$55,700

Gross

$198

LEASED 2A/287-289 Morayfield Road

Morayfield

Industrial

200m2

$24,000

Net

$120

LEASED 5/69 King Street

Caboolture

Office

210m2

$74,200

Net

$353

GENERAL INDUSTRY LAND PURPOSE BUILT LEASE HARDSTAND LEASE

Port of Brisbane

Brisbane CBD North Lakes

Brendale

North Harbour

Corporate Park

The opportunity Bruce HWY 3 Mins

Airport 25 Mins

You can now secure fully serviced General Industry land lots in Caboolture’s first estate release for over ten years.

Corporate Park, at the Bribie Island Rd and Bruce Highway interchange, has long been the area’s preferred location for industrial tenants and owneroccupiers in Moreton Bay. The estate is now at capacity, so eyes are turning to the next release of Corporate Park East.

Contact us today for a price list or to help design your ideal premises.

Port of Brisbane 30 Mins

Northern Corridor Group

CHRIS MASSIE chris.massie@raywhite.com 0412 490 840

ASHLEY REES ashley.rees@raywhite.com 0411 707 410

AGENT PROFILE

NORTHERN CORRIDOR GROUP

Chris Massie is a renowned and respected sales and leasing agent, known as an authority on commercial and industrial properties across the Moreton Bay Region. He has an innate ability to guide his clients, both buyers and sellers, throughout the sales process in commercial real estate.

He joined Ray White Commercial after working in the special projects division for a national civil company and has established himself as a dominant presence in the

Moreton Bay Region over the last ten years.

His unmatched stock knowledge and ‘boots on the ground’ work ethic sees him consistently ranked in the top 10 Ray White agents in the country.

CHRIS MASSIE SENIOR SALES & LEASING EXECUTIVE 0412 490 840 chris.massie@raywhite.com

RECENT NOTEWORTHY TRANSACTIONS D!

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5/75 Flinders Parade, NORTH LAKES

4/299 Morayfield Road, MORAYFIELD

41 Dalton Street, KIPPA-RING

• 310m comprising of 200m on the ground floor + 110m2 mezzanine • Architecturally designed office/ warehouse units • Container height roller doors • On site car parking

• 200m (approx) warehouse • 150m2 of exclusive use yard • 3 year lease ending 2020 - Cross Fit gym • Returning $21,331.80 per annum Net • Tenant pays 100% of outgoings

• Freestanding Warehouse/Fully Lockable • 1012m2 Lot • 742m2 Total Floor Space Comprising of: • 580m2 Open Plan Industrial Warehouse • 112m2 Approved Mezzanine • 50m2 Air-conditioned Office Space

2

2

Sold - $660,000

2

Sold - $305,000

Leased - $66,000 P/A Net

OFF MARKET TRANSACTIONS ADDRESS

SUBURB

SETTLED

LEASED / SOLD

PRICE ($)

292 Anzac Avenue

Kippa-Ring

December 2018

SOLD

$1,650,000

72 Lear Jet Drive

Caboolture

February 2019

SOLD

$1,800,000

34-36 Cessna Drive

Caboolture

September 2018

SOLD

$3,500,000

Lot 1 Peter Rash Court

Caboolture

February 2019

SOLD

$723,000

PROPERTIES FOR SALE OR LEASE NORTHERN CORRIDOR GROUP

ED LE NEED A S ES

D

N EEDE TIO IES N

C T AUROPER

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MO

P

R TI FO ROPER

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MO

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650 Old Gympie Road, NARANGBA

2/262 Leitchs Road, BRENDALE

• High profile 4,226m2 corner lot • Flexible General Industry Zoning • 900m2 approx. building area • Combination of office and clear span warehouse • Low site coverage with expansion or development potential

• 102m2 Warehouse • 79m2 Ground Floor + 23m2 Mezzanine • Net Income $18,000 P/A • Outgoings paid by Tenant • Leased until 15/09/2020 • Brand New Modern Warehouse w/ internal amenities • Full Height Roller Door • Exclusive On-Site Parking

• Auction 14 March On-Site 10am Auction Chris Massie

E DED ALES NEE S R TI

FO ROPER EP

For Sale - Contact Agents Chris Massie & Aaron Canavan

E DED ALES NEE S R TI

FO ROPER EP

R MO

R MO

145-223 Old Toorbul Point Road, CABOOLTURE

115 Old Toorbul Point Road, CABOOLTURE

• 16ha freehold General Industry land (exact size subject to subdivision process) • Located in one of Australia's fastest growth corridors • Immediate highway access • Flood free land clear of remanent vegetation • Part of "Elimbah East Employment Area" • Adjoining proposed masterplanned development

• 8,000m2 parcel of Light Industry Zoned Land • 225m2 approx. Colourbond Shed with 6 roller doors • 4 Bedroom, 2 bathroom house • High exposure to Bruce Highway • Opportunity to live and work from home • Future development opportunity • Rapidly growing area

For Sale - Contact Agents Warwick Peters & Chris Massie

For Sale - Contact Agent Chris Massie

For a full list of current opportunities for sale or lease visit raywhitecommercialnortherncorridorgroup.com.au

OUR TEAM

NORTHERN CORRIDOR GROUP

MORETON BAY

SUNSHINE COAST

CHRIS MASSIE DIRECTOR 0412 490 840 chris.massie@raywhite.com

MICHAEL SHADFORTH COMMERCIAL PRINCIPAL 0488 981 076 michael.shadforth@raywhite.com

ASHLEY REES SENIOR PROPERTY ANALYST 0411 707 410 ashley.rees@raywhite.com

JULIE RYAN MAJOR ASSET SALES 0447 445 453 julie.ryan@raywhite.com

WARWICK PETERS SENIOR BUSINESS BROKER 0412 234 231 warwick.peters@raywhite.com

EMILY PENDLETON SALES & LEASING EXECUTIVE 0402 435 446 emily.pendleton@raywhite.com

AARON CANAVAN SALES & LEASING EXECUTIVE 0447 744 948 aaron.canavan@raywhite.com

JORDAN HAYES SALES & LEASING EXECUTIVE 0417 999 331 jordan.hayes@raywhite.com

BLAKE PRIMROSE SALES & LEASING EXECUTIVE 0423 555 043 blake.primrose@raywhite.com

JASON WRIGHT ASSET MANAGEMENT SPECIALIST 0451 497 368 jason.wright@raywhite.com

PINE RIVERS PETER LAURENT SALES & LEASING EXECUTIVE 0429 391 675 peter.laurent@raywhite.com

TREVOR NELSON-JONES SALES & LEASING EXECUTIVE 0407 736 521 trevor.nelson-jones@raywhite.com

JUMA MARSTELLA SALES & LEASING EXECUTIVE 0450 360 321 juma.marstella@raywhite.com

BROCKE HAMBRECHT SALES & LEASING EXECUTIVE 0466 599 724 brocke.hambrecht@raywhite.com

raywhitecommercialnortherncorridorgroup.com.au

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