Massive surge in Toowoomba industrial property demand
A SURGE in industrial activity boosted by major infrastructure projects has sparked a wave of property deals and leasing inquiries in Queensland's largest inland city.
LJ Hooker Commercial's Markus Eames said the Wellcamp Airport and the Toowoomba Bypass, which is due to open by the middle of this year, were just two of the projects that have given the city's industrial market a shot in the arm.
"We're seeing a lot more industrial land being developed. Also, our industrial leasing inquiry for facilities of 2000sq m and over has picked up and we've had a number of significant sales," he said.
"Interestingly there has been a jump in manufacturing inquiry, then transport and agriculture. Mining is also still around."
Late last year Mr Eames struck two industrial deals with a northern NSW investor paying $4.1 million for warehouse at 179 Stephen St, Harristown, and automotive company the Black Group paid $3.85 million for a vacant property at 318 Taylor St, Wilsonton.
The Harristown property is about 3km from the Toowoomba CBD and features a building area of 2404sq m on a 8855sq m site.
The tenant, geo-resources services technology company QTEQ, has a new five-year term and options until 2033. Mr Eames said the deal realised a yield of 8.79 per cent
The Taylor St property features a building area of 2786sq m on a 2.04ha site. It has a 4.9 tonne gantry cranes, ample three phase power outlets, high clearance industrial roller doors, spray booth, wash down bay and more. It was previously occupied by the David Evans Group.