100% Locally Owned, Independent and Free

100% Locally Owned, Independent and Free

Industrial land sales have gone 'completely bananas' on the Sunshine Coast

Do you have a news tip? Click here to send to our news team.

Tribunal delays retirement village closure for review

The closure of a retirement village has been put on hold following concerns that its elderly residents could suffer “irreversible harm” without improved relocation More

Huge new ‘gompa’ proposed for hinterland retreat

One of Australia’s most prominent Buddhist centres has lodged plans for a new central meditation hall – or ‘gompa’ – at its sprawling Sunshine More

‘Risky’ parking spaces prompts call for accessibility audit

Residents are backing a call for a review of accessible parking options, claiming poorly designed spaces create an “unacceptable risk” for all road users. The More

Ashley Robinson: level of pain on another plane

I have a couple of allergies. I am dead-set allergic to pain, which sort of makes sense that I am scared of dentists. It all More

‘Tough spot’: why cup of coffee could soar to $10

A blend of cost-of-living pressures and an increase in demand for one of the world’s biggest commodities could bump up the price of a More

High-tech trolleys to be rolled out at major supermarket

Shoppers at a major supermarket will have a “revolutionary” way to purchase groceries, with the introduction of new high-tech trolleys. Woolworths is set to introduce More

While the residential property market for investors is roaring along, the commercial property market is just as hot and likely to stay that way well into the future.

It’s gone “completely bananas” says industry expert and managing director of Colliers Sunshine Coast, Nick Dowling.

“Business confidence is pretty high on the Coast,” he says. “The industrial market, and in particular the industrial land sale market, is a good barometer of how the economy is going.”

Nick Dowling has never seen industrial land sales like now.

While 12 months ago he had about 60 industrial land parcels for sale he says now, “there are no lots left”.

“The take up has been huge,” Mr Dowling says. “It’s a little bit of FOMO.”

He uses the example of some government-owned property at Coolum which about 12 months ago had 10 or so blocks for sale at $135 to $140 per metre.

He got down to one left — an odd-shaped block. It sold for over $200 per metre. An earlier block sale of $135 per metre then fell-over and subsequently sold for $285 per metre.

Many of these land parcels are being filled with industrial units then quickly leased or sold.

Interested in Sunshine Coast property stories? Help us deliver more by registering for our free daily news bulletin. All it requires is your name and email. See SUBSCRIBE at the top of this article 

Established industrial land is also selling quickly.

The rents are also heading up, but not quite at the same rate as the prices. A place that was $120pm is now renting for about $140 per metre.

“In the 25 years of doing this, I have never seen as much activity, both from the leasing and sales perspectives,” Mr Dowling says.

Looking forward there is a downside to future sales — there is a severe shortage of industrial land.

While the Sunshine Coast Council is aware of this issue, Mr Dowling admits the region is “hamstrung” by its geography with the mountain range, flood prone land, a high demand for residential estates and a desire to protect the beauty of the region.

The answer to the council’s quandary doesn’t appear straightforward.

If the promised new infrastructure can come into place quickly, particularly heavy rail, Mr Dowling sees it will add even more value to the Coast.

Rezoning land along this and other transport corridors for industrial use is a likely solution.

“With limited amount of stock in the market, tenants, owner-occupiers and investors are all scrambling to secure industrial premises,” Mr Dowling says.

“We are no longer the little country town; we have grown up and people are recognising that everywhere,” he adds.

Subscribe to SCN’s free daily news email

This field is hidden when viewing the form
This field is for validation purposes and should be left unchanged.
[scn_go_back_button] Return Home
Share