In The Know - North Lakes 2019 Q1 | Ray White Commercial | Northern Corridor Group

NORTH LAKES

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 NORTH LAKES

NORTHERN CORRIDOR GROUP

YOUR NORTH LAKES UPDATE Construction activity remained strong this quarter for North Lakes, as the commercial in-fill continues to expand north through the Business Park at a solid pace. Flinders Parade has been the focal point of most activity, driven by retail showroom and service industry businesses looking to capitalise on the seemingly unflappable micro-economy of this awardwinning master-planned community.

The business confidence and resulting commercial activity remains rooted in the ongoingstrength of the residential market, which has enjoyed a shift in demographic over recent times. The resident profile for many years had been predominantly young local professionals and families, however 2018 saw an increase in people relocating from Sydney or Melbourne for a more relaxed and affordable lifestyle, still within 30km of the Brisbane CBD. This is in line with our greater domestic migration statistics across the region that was touched on in the recent Sunshine Coast office report, highlighting affordability as a key driver. Despite continued strong demand, the median price for housing is reported as $489,000 and median rent is around $430 to $460 per week, which compares very favourably to Brisbane.

Town centre retail has performed well, in spite of the continuing increase in supply via mixed use residential developments. Medical interest remains strong, with developments such as Keymax’s North Lakes Specialist Medical Centre setting the standard for A gradebregional facilities.

Our prediction is that this precinct will continue to outperform surrounding suburbs by a comfortable margin in terms of achievable rents, vacancy rates and investment yields. The proven catchment, continuing speculative construction pipeline and minimal competing stock will ensure robust short term performance. The longer term should be even better, as competition for the last remaining tenancies is compounded by a greater Northern Corridor stock shortage and unprecedented population projections.

Watch for strata sales to set new benchmarks with a string of new leases currently under negotiation slated to hit the market closer to the end of the financial year.

VA C A N C I E S SIZE

LAST QUARTER

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

AV E R A G E R E N T

THIS QUARTER

SIZE

LAST QUARTER

THIS QUARTER

0-200m2

13

8

0-200m2

$193

$191

200-500m2

7

14

200-500m2

$182

$190

>500m2

4

7

>500m2

$216

$228

NORTH LAKES ACTIVITY

NORTHERN CORRIDOR GROUP

LISTED SALE/ LEASE

Ray White Commercial - Northern Corridor Group RESEARCH TEAM The following is a summary of the key Listed, Leased and Sold properties

ADDRESS

SUBURB

TYPE

BUILDING LAND AREA (M2) AREA (M2)

PRICE P/A

NET OR GROSS

Sale

5/106 Flinders Parade

North Lakes

Showroom

556m2

-

P.O.A

-

Sale

7/12 Discovery Drive

North Lakes

Retail

61m2

-

$335,000

-

Sale

2B/2 Flinders Parade

North Lakes

Office

137m2

-

P.O.A

-

Sale

2/14-18 Discovery Drive

North Lakes

Office

114m2

-

Present all Offers

-

Sale

2/106 Flinders Parade

North Lakes

Industrial

189m

2

-

$453,600

-

Sale

7/75 Flinders Parade

North Lakes

Industrial

154m

2

-

$395,000

-

Lease

4/9 Flinders Parade

North Lakes

Showroom

245m2

-

$50,000

Net

Lease

1/23 Discovery Drive

North Lakes

Retail

92m

2

-

$46,000

Net

Lease

1/5-7 Discovery Drive

North Lakes

Office

92m

2

-

$36,905

Gross

Lease

5/6 Endeavour Boulevard

North Lakes

Medical

109m

2

-

$38,000

Net

Lease

2/29 Flinders Parade

North Lakes

Office

160m

2

-

$36,000

Net

Lease

5/71 Flinders Parade

North Lakes

Showroom

405m

2

-

$99,225

Net

Lease

93 Flinders Parade

North Lakes

Retail

998m

2

-

P.O.A

Lease

8A/4-6 Burke Crescent

North Lakes

Office

335m

2

Lease

1642 Anzac Avenue

North Lakes

Lease

6/37 Flinders Parade

North Lakes

-

-

$95,484

Net

Office

75m

2

-

$30,000

Net

Industrial

108m

-

$21,600

Net

2

SOLD & LEASED LEASED /SOLD

ADDRESS

SUBURB

TYPE

BUILDING AREA (M2)

SOLD PRICE LEASED P/A

NET/ GROSS

$/SQM

Sold

5/75 Flinders Parade

North Lakes

Industrial

310m2

$660,000

-

$2,342

Sold

2/75 Flinders Parade

North Lakes

Industrial

154m

2

$395,000

-

$2,565

Sold

2/14 Burke Crescent

North Lakes

Retail

347m

2

$910,000

-

$2,622

Sold

Lot 70 Torres Crescent

North Lakes

Land

3,481m

2

$1,235,755

-

$355

Leased

5A/4-6 Burke Crescent

North Lakes

Retail

378m2

$90,720

Net

$240

Leased

1/63 Flinders Parade

North Lakes

Retail

495m

2

$118,800

Net

$240

Leased

4/29 Flinders Parade

North Lakes

Industrial

302m

2

$31,710

Net

$105

Leased

5/63 Flinders Parade

North Lakes

Retail

258m

2

$65,000

Net

$252

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

RECENT NOTEWORTHY TRANSACTIONS

E

R MO

SOPERT

D

DE

! EE LD IES N

O PR

E

R MO

SOPERT

D

DE

! EE LD IES N

SOPERT

O PR

D

DE

! EE LD IES N

RO

EP

R MO

5/75 Flinders Parade, NORTH LAKES

Lot 11 110 McNaught Road, CABOOLTURE

Lot 1 Peter Rash Court, CABOOLTURE

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

• Immediate access to Bruce Highway & D'Aguilar Highway • 24-hour General Industry use • Flexible lot sizes from 1,000m2 to 5ha • Covenant free design options • Suit developers or owner occupiers

• Positioned close to Bruce Highway with exposure to over 40,000 vehicles per day • District industry zoned land • Flat block • 5 different lots from 2010m2 - 2455m2 • Underground power & phone provisions

2

2

Sold - $660,000

Sold - $355,600

Sold - $723,000

L NA EDED O TI NE

I S NDPERTIE O C O

UN RE PR MO

4-8 Burke Crescent, NORTH LAKES LIFESTYLE CENTRE Ashley Rees, Chris Massie and the team worked with the owners through all aspects of this development over the last 10 years, from the original purchase of the land from Stockland, through construction, leasing, day to day asset management and the eventual sale of this multi tenanted complex. One of the largest transactions in the North Lakes Business Park.

• 7,971m2 showroom and retail complex • 15 tenancies with national anchor businesses • Prominent location fronting major arterial road • 18,300m2 total land parcel with three street frontage • 4 year weighted average lease expiry

Unconditional $21,500,000 - Ashley Rees For a full list of current opportunities for sale or lease visit raywhitecommercialnortherncorridorgroup.com.au

PROPERTIES FOR SALE OR LEASE NORTHERN CORRIDOR GROUP

SE D EA NEEDE L R S

SE D EA NEEDE L R S

O TIE LE ROPER A S P

O TIE LE ROPER A S P

7/75 Flinders Parade, NORTH LAKES

9 Flinders Parade, NORTH LAKES

• 154m2 comprising of 105m2 on the ground floor + 49m2 mezzanine • Architecturally designed office/warehouse units • Container height roller doors • On site car parking • High speed NBN connection • Close proximity to town centre amenity and public transport links • Easy access to Bruce Highway and major arterials

• Strata units available from 198m2-245m2 • Flexible Zoning suits multiple uses • On site car parking • Internal amenities • Custom fit out available • Lease to Buy options available

RE

RE

MO

MO

For sale $440,000 - For Lease $2,567 P/M Net Chris Massie & Aaron Canavan

For Sale or Lease - Contact Agents Chris Massie & Ashley Rees

SE D EA NEEDE L R S

IE E OOPERT L A R

S

SE D EA NEEDE L R S

IE E OOPERT L A R

S

EP

R MO

EP

R MO

5/106 Flinders Parade, NORTH LAKES

3/106 Flinders Parade, NORTH LAKES

• 556m2 Freestanding showroom space • Open plan building • Internal Amenities • Front tenancy fronting Flinders Parade • Fit out options available • Large on site car park •Close proximity to Bruce Highway and major arterials • Short distance to IKEA, Westfield North Lakes, Costco, Bunnings, and other local amenities

• 201m2 Industrial Warehouse • Comprising of : 154m2 open plan warehouse + 47m2 mezzanine • High profile location • Fit out options available • Internal Amenities • Large on site car park • Close proximity to Bruce Highway and other major arterials

For Sale or Lease - Contact Agents Chris Massie & Aaron Canavan

For Sale $482,400 - For Lease $2,932 P/M Net Chris Massie & Aaron Canavan

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

facebook.com/rwcncc

twitter.com/rwcncc

instagram.com/rwcncc