Machines have arrived on site to commence works on Corporate Park East, the first industrial land release in Caboolture since 2006.
The release of land added to the already impressive count of 29 active residential projects currently under way in Moreton Bay, one of the most in any region in south east Queensland.
Ray White Commercial Northern Corridor Group’s Director Chris Massie said demand for the new general industry lots was expected to come from owner-occupiers in the surrounding area, and investors looking to capitalise on the very low vacancy rates in the adjoining Corporate Park estate, with interest from national companies particularly intriguing.
“We’ve always been a relatively local and insulated market, but the success of North Lakes and the residential construction activity being generated by Caloundra South and Caboolture West has changed perceptions of Caboolture amongst national companies,” Mr Massie said.
“It’s become clear that this’ll be the centre of growth in the region for the next 20 years and the bigger players are starting to position themselves accordingly.”
Ray White Commercial Northern Corridor Group’s Senior Sales and Leasing Executive Ashley Rees said the inclusion of eight 1,000sq m lots in stage one would provide opportunities for owner-occupiers and investors to buy and build their own freehold tenancies, rather than the strata options on traditional 2,000sq m lots.
“The prospect of being able to build a four or five hundred square metre shed, put a fence around it and not worry about neighbours or shared parking is heaven for some businesses.” Mr Rees said.
“Our latest market research shows Corporate Park is at 94 per cent occupancy and there are some real growing pains among some of the businesses in the area, not to mention the national interest.
“We have the builders and consultants on standby to help these businesses make the move and it will be exciting to see who’s first.”
Stage one was due for completion in March of next year, with tenants and owner-occupiers expected to move in to the first new buildings within 12 months.
Land sizes start at 1,000sq m and can accommodate up to 3ha requirements.