Businesses snap up land in industrial estate with potential for hundreds of new jobs on the horizon
Businesses snap up land in industrial estate north of Brisbane with potential for hundreds of new jobs on the horizon.
Moreton
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NEW job opportunities are on the horizon as businesses begin to snap up land in a massive new industrial estate north of Brisbane.
Corporate Park East at Upper Caboolture has secured its first buyer with Agas National purchasing a site for a new distribution centre.
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PGA Projects developed the in the 40ha estate that was expected to support 605 full-time jobs and $46.6 million in wages.
Other owner occupiers soon to move in include a pontoon manufacturer, food distributor and a transport depot that will service the nearby Bruce Highway upgrades.
Ray White Commercial’s Director and Senior Analyst Ashley Rees said industrial businesses were generally seeing the least impact from the COVID crisis.
“Some are even benefiting from our new buying habits,” he said.
“It is reassuring for owners of industrial property that of the four hundred plus businesses we manage, only nine industrial tenants have contacted us seeking assistance with rent relief.”
“This is being reflected in reports across the country that show online shopping is actually boosting industrial property demand.”
Ray White Marketing agent Chris Massie the number of inquiries they had received for industrial investments had bounced back to levels not seen since the COVID-19 outbreak.
“We have received sixty-four industrial inquiries in three weeks, with ten of those being businesses looking for land to expand into,” he said.
“Transport and warehousing are particularly strong at the moment.”
Though some industrial businesses had sought help through the crisis in the form of rent relief, making up 6 per cent of all such inquiries fielded by Ray White’s property managers.
The sector with the most calls for rent help had been in hospitality, followed by retail, trades and office professionals.
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