Residential development ramping up industrial deals in Gold Coast’s northern growth corridor
Yatala Enterprise Area is experiencing strong inquiry off the back of residential development as the northern Gold Coast corridor undergoes huge population and development growth.
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THE rise of the Gold Coast’s northern growth corridor and its residential development is continuing to drive industrial deals in the Yatala Enterprise Area.
In one of the latest of a recent string of transactions, an owner-occupier has snapped up a three-building facility at Stapylton for its new head office.
Groove Tiles & Stone has paid $2.625 million for the property, which sits on a 6596sq m parcel of land at 25-27 Christensen Rd. It comprises a total building area of 3159sq m.
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Daniel Coburn from Colliers International, who negotiated the deal through a private treaty, said the buyer had been looking to consolidate their operations from four different buildings in Ormeau and create cost efficiencies by running the business in one facility.
Mr Coburn said both owner-occupiers and investors had been driving activity in the Yatala Enterprise Area.
“Yatala Enterprise Area is experiencing strong inquiry off the back of local residential development as the northern Gold Coast corridor undergoes huge population and development growth,” he said.
Groove Tiles & Stone’s Leo Barbera said the Queensland family-owned and operated business was attracted to the Stapylton location as it was strategically positioned to service its retail outlets at Albion and Southport.
“This facility also will provide more than 1000sq m more storage and 100sq m more office space for progressing the company to expand.”
It also features about 100m of road frontage as well as dual crossovers and direct access to the M1 motorway.
Among other recent major deals in the area, a large land holding owned by the same family since the 1800s has changed hands for $12.8 million. The 85ha property at 396 Stanmore Rd, Yatala, was acquired by Gold Coast City Council, which plans to convert the cleared and vacant parcel of former farm land into sports and recreational fields.
Flooring supplier National Flooring Distributors also has made its move to the area, consolidating its operations under one roof after settling an $8 million transaction for an 5757sq m office/warehouse at 58 Blanck St, Ormeau.
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