Market Report - North Brisbane Commercial Property Team

0447 744 948

“If you want a haircut, go to the barber”.

This simple saying stuck in my head this year when a client explained why he came to us for advice on his commercial property.

To put this into context, our RWC Northern Corridor Group team had more agents on the ground and completed more transactions in FY24 than any other commercial real estate firm across the Northern Corridor.

151 SALES worth over $300,000,000 for our clients

246 LEASES secured more than $15,400,000 in rent for our clients

While no-one has a crystal ball, we can be quite certain that the following key drivers will continue to influence the Northern Corridor commercial property market in the next financial year:

Ashley Rees Director | Senior Analyst 0411 707

410

Northern Corridor Market Drivers

FY 2025

POPULATION GROWTH

We have double the population of Rockhampton projected to move to the Northern Corridor over the next two decades, which makes this area one of the most significant residential growth corridors in Australia. The investment in infrastructure and the positioning of businesses to capitalise on this workforce and customer base is already noticeable and will continue to drive investment in the coming year.

LAND SUPPLY CONSTRAINTS

The next five years in particular will see further tightening of what is already a chronic supply shortage of industrial land in the region. Vacant industrial rates have increased from $285m2 in 2020 to over $550m2 in 2024. There is now no remaining land earmarked for General Industry subdivision between Caboolture and Brisbane and a recent needs analysis identified that the Sunshine Coast was almost 400ha of a “healthy” future supply pipeline.

CONSTRUCTION COSTS

Construction prices have been a major source of the CPI issues that drove the interest rate hikes of 2023. There has been a perfect storm of international conflict, labour shortages, fuel, materials and competing infrastructure projects impacting all facets of commercial construction. The South East Queensland market has been impacted more than most areas due to the Olympic infrastructure pipeline of projects that has taken tier 1 builders out of the private industrial construction pool. This, combined with the land supply constraints, will likely see continued upward pressure on finished product costs for new industrial buildings.

AFFORDABLE HOUSING & LABOUR

Industrial businesses across the country are struggling to access the necessary skilled labour. With housing affordability and cost of commuting being the two factors that dictate workforce location the Northern Corridor is positioned to provide rapid relief to this pent up demand. Caboolture West alone has the potential to supply close to 40,000 new homes, spurred on by the Government’s Affordable Housing mandate. This is proving doubly attractive for businesses in the trade services and building supply industries, who want to position themselves to servicing the demand from the same residential construction projects that this new labour force will call home.

Recent Transactions

SOLD $1,100,000

400m² warehouse/office facility comprising of 204m2* warehouse and

SOLD $2,300,000

• The project has delivered more than 2,000m2 of retail including an IGA Supermarket, and a 2,500m2 health precinct.

• 196m²* office space across 2 levels

• 6 x private consulting offices

• 3 x private board rooms

• Multiple open plan office areas

• Other tenants include a doctors’ practice, national pharmacy, dentist, hairdresser, gym, bottle shop, mixed food vendors and many more.

• Internal amenities

Aaron Canavan | 0447 744 948

Samuel Hoy | 0423 795 273

SOLD $650,000

• 179m2* clear span warehouse

• Container height roller door

• Internal amenities including bathroom & kitchenette

• 3 phase power

• Glass door entry

• Month to month tenancy currently in place

Aaron 0447 744 948 | Griffin 0422 587 143

•218m2 warehouse (160m2* ground floor + 58m2 mezzanine)

• 599m2* freestanding industrial warehouse on 852m2 lot

• NBN on site

• Reception area on ground floor and 40m2* mezzanine office

• High clearance electric roller door

• Good street access

• Air-conditioned throughout all office areas

• Internal amenities

• Internal kitchenette & amenities including showers

• LED high bay lighting

• Modern sensor lights in bathrooms

• Quality tilt slab construction

Aaron Canavan | 0447 744 948

Samuel 0423 795 273 | Charlee 0431 135 900

SOLD $1,060,000

• Nett $194,359.63* per annum

• 356m2* comprising of 264m2* warehouse/ office + 92m2* mezzanine

• 4,000m2* high exposure allotment

• Well presented warehouse/office facility

• Container height roller door

• 1,395m2* warehouse plus 100m2* mezzanine

• Securely fenced site with usable concrete hardstand

• Mezzanine with access via office upstairs

• Dual level office space with ample natural light and ducted air conditioning throughout

• 5 year lease term expiring 31/07/2025

• 2 x 5 year options with market reviews

Aaron Canavan | 0447 744 948

Michael 0488 981 076 | Samuel 0423 795 273

3/19 REDCLIFFE GARDENS DRIVE, CLONTARF

8/40 TERRENCE ROAD, BRENDALE

45 GRICE STREET, CLONTARF

21/14 ASHTAN PLACE, BANYO

LEASED $43,000 P/A + OUTS + GST

2/33

• Unit 1: 562m2 including 142m2 mezzanine

• Unit 2: 562m2 including 142m2 mezzanine

304m2* NLA comprised of 254m2* warehouse & 50m2* retail/showroom space

• Air conditioned office fitout

• 2 container height roller doors

• Good on site parking

• Total complex 1,124m2*

• Great signage opportunities

• 16 car parks in complex

• NBN and staff facilities

• High exposure located

• High quality tilt slab construction

• Close proximity to public transport

• Only one neighbour in complex

Griffin 0422 587 143 | Trevor 0407 736 521

Samuel 0423 795 273 | David 0481 996 794

• Sizes from 163m2* - 343m2*

• 260m2* Tilt panel warehouse comprising of 220m2* of ground floor space and 40m2* of mezanine office

• High exposure corner location with branding opportunities

• Container height electric roller door

• Internal amenities for staff

• Air conditioned office space

• High clearance roller doors

• 3 phase power

• 15 on-site car parks

• Secure gated complex

• Highly accessible driveway

• On site parking

• Fast NBN connectivity

Griffin 0422 587 143 | Aaron 0447 744 948

Samuel 0423 795 273 | Charlee 0431 135 900

340m2* office/warehouse + 30m2* mezzanine storage

• Showroom opportunities between 773m2*1,226m2*.

Container height roller door

• Office/staff facilities

• High exposure and brand opportunities

• Internal amenities

• Open plan office space with executive offices and boardroom

• Ducted air-conditioning

• High-speed NBN

• 5 exclusive car parks

• 44 on-site car parks

• High roller door

Griffin 0422 587 143 | Aaron 0447 744 948

Samuel 0423 795 273 | Michael 0488 981 076

LEASED $88,800 PA + OUTS + GST LEASED $44,000 PA + OUTS + GST

• 2 air conditioned front offices

• Total area: 62m2*

• Frontage to Nicklin Way

• Security grills on windows

• 259m² warehouse space

• Office in high profile location

• Container height roller door

• Exceptional exposure for signage

• 3 phase power

• Security system fitted

• Affordable outgoings with owner covering body corporate levies

• Disabled amenities

• Plenty of onsite parking

• Close proximity to Sunshine Motorway & national retail operators

Griffin Deakin | 0422 587 143

Charlee Livesey | 0431 135 900

1/48 REDCLIFFE GARDENS DRIVE, CLONTARF

4/31 KREMZOW ROAD, BRENDALE

SOUTH PINE ROAD, BRENDALE

5/14 ASHTAN PLACE, BANYO

0447 744 948

0407 736 521

0421 203 677