Property flying off market as resource sector drives demand

Increasing demand for heavy engineering workshops in Paget

The property market is picking up in Paget. Picture: Daily Mercury

INCREASING demand for heavy engineering workshops in Paget could see a rise in construction of new premises according to leading commercial agents.

In the past quarter, the volume of vacant space in the city's major industrial estate has tightened by 15 per cent in smaller strata industrial units and 12 per cent in warehousing.

Speaking with businesses on the ground in Paget, Explore Property Mackay Commercial director Jordan Miller said everyone was 'flat out'.

"There has been an improvement in the resources sector over the last year and a general return of confidence in the business sector has improved that as well,” Mr Miller said.

"We are speaking to a lot of business owners in Paget and they are seeing a fairly big increase in demand for their services whether they are in the mining space or in the industrial maintenance space.”

Mr Miller said the improved climate is giving businesses the confidence to expand into bigger premises' or build their own custom facilities.

"The highest level of demand would be for larger heavy engineering workshops which will probably mean we will start to see a few new constructions; people buying land and constructing their premises in the near future,” he said.

"There has been a number of more bespoke style properties built for a specific purpose and given the affordable prices for vacant land in Paget, it has become more viable for businesses to construct their own sheds.”

Originally published as Property flying off market as resource sector drives demand