Benjamin Farkas Phone: +61 410 323 155 benjamin@anue.com.au
At a glance Address// 198-200 McCormack Street, Manunda QLD 4870 Current Tenants// Airport Car Storage Listing Type// Property for sale Yield Initally // 5% Site Area// 4919m (52,950sqf) 2
Price// A$1,885,000 (A$1.885M) Supporing Documents// Information memorandam
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198-200 McCormack Industrial freehold site Street Located in the heart of Cairns, within the Manunda industrial precinct, a rare opportunity has emerged for the potential development of a new industrial unit complex, or to custom build a facility to suit your exact requirements. The location is currently tenanted by an airport car storage business. The site is generally flat and holds two detached buildings surrounded by organic hardstand. This site is in an excellent position, with easy access to a major state controlled transport corridor (Anderson St) and is approximately 4 minutes from the CBD and 8 minutes from the Cairns International Airport.
At capacity
Industrial precincts in the Cairns area have a limited supply of vacant, appropriately zoned land remaining for expansion. Both North Cairns and Manunda industrial precincts have been identified as ‘full’. As Industrial land along Anderson Street is at capacity, there are no other identified large area hardstand sites currently available.
Service Areas
This site presents an opportunity to capitalise on almost non-existent industrial vacancy in the areas. The site is in a position to take maximum advantage of the Cairns International Airport and the Central Business District of Cairns City.
Existing infrastructure and tenant
This site is predominantly organic hardstand, with two detached buildings. One building is a steel portal constructed shed with six roller doors attached to a two-level block constructed office facility. The other freestanding building is at the rear of the property and comprises of a large open air undercover parkingarea and maintenance facility, and a 4-bedroom brick staff residence. In total this represents ~1000m2high-clearance sheds (10,764sqf) ~470m2 of office (5060sqf) ~2800m2of organic hardstand (30,140sqf)
Draft Cairns Region Planning Scheme Cairns Regional Council is in the process of preparing a new Planning Scheme for the Cairns Local Government Area. An assessment of the site against the relevant provisions of the Draft Scheme have been undertaken to identify any changes in policy that would affect the development opportunities of the site. Under the draft, the site and its surrounds are designated with the Low Impact Industry Zone. The intent of the Low impact industry zone is to provide for service and low impact industry uses. It may include non-industrial and business uses that support the industrial activities where they do not compromise the longterm use of the land for industrial purposes. The Scheme defines Low Impact Industry as: Premises used for industrial activities that include the manufacturing, producing, processing, repairing, altering, recycling,
Immediate lease back As the property is currently occupied by a business run by the property owners, Anue Commercial will structure a new short-term lease agreement with the existing owners, based on a 5% net return. This will afford the current tenants time to evaluate their options and provide income certainty to the new owners in the near term. The key advantage of securing a shortterm lease prior to settlement is that the property is sold as a “going concern”, negating any GST payable- a possible saving upwards of A$170,000, based on 10% of the listed price.
storing, distributing, transferring or treating of products and have one or more of the following attributes: •
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Negligible impacts on sensitive land uses due to offsite emissions including aerosol, fume, particle, smoke, odour and noise; Minimal traffic generation and heavyvehicle usage; Demands imposed upon the local infrastructure network consistent with surrounding uses; The use generally operates during the day (e.g. 7am to 6pm); Offsite impacts from storage of dangerous goods are negligible; The use is primarily undertaken indoors.
The scheme provides the following examples for Low Impact Industry uses: • Repairing and servicing motor vehicles, including mechanical components,
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• •
radiators, electrical components, wheel alignments, exhausts, tyres, suspension or air conditioning, not including spray painting; Repairing and servicing lawn mowers and outboard engines; Fitting and turning workshop; Assembling or fabricating products from sheet metal or welding steel, producing less than 10 tonnes a year and not including spray painting; Assembling wood products not involving cutting, routing, sanding or spray painting; Dismantling automotive or mechanical equipment, not including debonding brake or clutch components. For more information, contact us to receive the full report
Redevelopment potential
Foreign Investment Approval
The subject site has redevelopment potential under both the current and Draft Planning Schemes. Uses likely to be favoured will be those of an industrial, business or service nature which have minimal impacts on the surrounding land uses, utilities and road infrastructure.
An application for acquisition of the existing property, or redevelopment of the property, does not require FIRB approval. This is because the property, and any proposed re-development, is likely to fall under wwthe A$54M threshold.
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Cairns – Positioned For Growth Cairns is located in North Queensland and is Australia’s gateway to the Great Barrier Reef. It is a city perfectly positioned for growth as it is being transformed from a regional tourist town to one of Australia’s major Asian trading partners. Cairns is fast becoming an investment mecca through: •
Access to international markets though the international airport and seaport facilities with no curfews
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Established trading activities and networks, including direct international flights to Singapore, Hong Kong, China, Japan, Indonesia, and Papua New Guinea
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The Australian Government’s commitment to spend $5 billion improving public infrastructure in Northern Australia
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Excellent public and private education facilities, including a world-class university and the Tropical North Queensland TAFE, providing access to a skilled workforce, research facilities and expertise
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An attractive first world lifestyle enriched by the availability of a wide range of sporting and cultural facilities, complemented by the natural environment
Key Statistics Population Gross Regional Product Major Industries
158,985 $7.62 billion Tourism, Agriculture, Health, Retail
Cairns is “In the Zone” with major new investment and redevelopment occurring: •
Aquis Great Barrier Reef: $8.15 billion integrated casino resort development
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C3: $550 million residential development in the Cairns CBD
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Mt Peter: $500 million 2,500 residential lot subdivision
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Nova 8: $400 million seven tower mixed residential and commercial development
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Botanica: $200 million 1,000 home residential development
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Cairns Aquarium: $50 million state of the art aquarium showcasing the Great Barrier Reef
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Sheridan Mirage: $40 million redevelopment of the resort
Site Details Local Government Area
The site is within the Cairns Regional Council Local Government Area
Address
198 – 200 McCormack Street, Manunda, QLD, 4870
Lot and Plan
Lot 18 on RP867021
Total Site Area
4,919m2
Site Location
Site Description
The site is approximately 180 metres from the intersection of McCormack Street and Anderson Street. Anderson Street is a major transport route and identified as a State Controlled Road. The subject site is generally flat with two detached buildings on the site surrounded by hardstand. One building comprising of strata-style sheds with roller door attached to a two level office facility. The second freestanding building comprising of a large undercover parking & maintenance facility with a 4-bedroom residence.
Circa 1000m2 high-clearance sheds Circa 470m2 of office Circa 2800m2 of organic hardstand
This planning insight report is based on a preliminary desktop appraisal of publicly available information only and is limited to this extent. Any third party who chooses to rely on information contained in this document is recommended to make their own enquiries. ANUE Commercial Real Estate will not be held liable for any decision based on this preliminary advice.
Site Details Continued Surrounding Land Uses
The subject site is situated in Manunda’s industrial precinct which contains a mix of low impact industrial type uses and commercial businesses. To the north, east and west of the subject site is a mix of low impact industrial type uses and other businesses situated in a mix of strata titled buildings containing tenancies of various sizes and large commercial buildings. To the south the site adjoins a small bus depot. A drain separates the depot from a residential area characterised by existing detached dwellings on their own lots.
Current Planning Controls Planning Scheme
Consolidated Cairns Plan 2009
Planning District
Inner Suburbs
Planning Area
The site is designated with the Industry Planning Area
The Planning Scheme’s intent for the Industry Planning Area is to achieve the following outcomes:
A wide range of industrial uses to support the economy of the City and the region; The establishment of employment nodes within reasonable proximity to residential areas; Uses and works for industrial purposes are located, designed and managed to maintain the safety of people.
This planning insight report is based on a preliminary desktop appraisal of publicly available information only and is limited to this extent. Any third party who chooses to rely on information contained in this document is recommended to make their own enquiries. ANUE Commercial Real Estate will not be held liable for any decision based on this preliminary advice.
Current Planning Controls Continued
Level of Assessment
The Inner Suburbs - District Assessment Table identifies the following Land Uses as Code Assessable in the Industry Planning Area:
Industry Class A
New development contributes to a high standard of amenity through the design and scale of the built form. To avoid significant adverse effects on the natural environment and minimise impacts on adjacent non-industrial land.
Caretaker’s Residence Display Facilities Business Facilities Veterinary Facilities Industry Class A (as a consequence of Overlay mapping) Industry Class B Telecommunication Facility
Industry Class A is defined in the Consolidated Cairns Plan as: Industry Class A means the use of premises for any industry which:
does not detrimentally affect the amenity of neighbouring premises due to the emission of noise, vibration, smell, fumes, smoke, vapour, steam, soot, ash, dust, grit, oil or waste products; and does not involve the generation of heavy vehicular traffic; and does not impose any greater load on any public utility than that imposed by other uses in the locality in which the industry is carried on.
The use includes the sale of goods resulting from the industrial activity and any administration associated with the use, where these are carried out on the same site and are ancillary to the industrial activity. The term may include but not limited to the following uses: Motor vehicle repairs (mechanical and electrical) Processing or packaging of food for human consumption Upholstering furniture or vehicles Assembly of furniture or other products Printing Self-Storage Shop fitting
This planning insight report is based on a preliminary desktop appraisal of publicly available information only and is limited to this extent. Any third party who chooses to rely on information contained in this document is recommended to make their own enquiries. ANUE Commercial Real Estate will not be held liable for any decision based on this preliminary advice.
Current Planning Controls Continued Industry Class B
Industry Class B is defined in the Consolidated Cairns Plan as: Industry Class B means the use of premises for any industry which:
may intermittently have some effect upon activities conducted on adjoining sites or in the immediate vicinity and is incompatible with the definition of Industry Class A; and is so operated or conducted that the effect of the use is not detrimental to the working environment experienced on adjoining sites or in the immediate vicinity.
The use includes the sale of goods resulting from the industrial activity and any administration associated with the use, where these are carried out on the same site and are ancillary to the industrial activity. The use includes activities such as:
Brewery Boat maintenance and repair (no abrasive blasting) Heavy vehicle parking Transport and equipment depot Panel beating and spray painting Cannery Concrete batching plant Concrete product manufacture Sawmill Steel fabrication.
Overlays
The subject site is captured by several of the planning scheme’s overlays which may impact on future development on the site. Of note are the relevant Flood Inundation (ARI 100 year) Overlay and the Potential or Actual Acid Sulphate Soil Material Overlay for the District.
Development Parameters
The following development parameters are extracted from the Consolidated Cairns Plan: Maximum Building Height: 10 metres Building Set Backs:
6 metres from main road frontage
Side and Rear Set Backs:
0 metres where site adjoins Industry Planning Area; and 2.5 metres or ¼ of the height of the building
Landscaping:
A minimum of 10% of the site area is landscaped
This planning insight report is based on a preliminary desktop appraisal of publicly available information only and is limited to this extent. Any third party who chooses to rely on information contained in this document is recommended to make their own enquiries. ANUE Commercial Real Estate will not be held liable for any decision based on this preliminary advice.
Current Planning Controls Continued Development Parameters
Car Parking Numbers Industry Class A & B:
1 space per 90m2 of nett lettable area: or 2 spaces for a self-storage facility.
Display Facilities:
For garden supplies, hardware & the like - 1 space per 50m2 net lettable area. For boats, caravans, machinery, motor vehicles and the like - 1 space per 100m2 net lettable area. For vehicle hire premises -1 space per 25m2 of net lettable area; plus 1 space per 1.5 vehicles in hire vehicle fleet; which may be provided in tandem.
Business Facilities
1 space per 25m2 of net lettable area
Veterinary Facilities
1 space per 25m2 of net lettable area
Draft Cairns Region Planning Scheme Cairns Regional Council is in the process of preparing a new Planning Scheme for the Cairns Local Government Area. An assessment of the site against the relevant provisions of the Draft Scheme have been undertaken to identify any changes in policy that would affect the development opportunities of the site. Under the draft, the site and its surrounds are designated with the Low Impact Industry Zone. The intent of the Low impact industry zone is to provide for service and low impact industry uses. It may include non-industrial and business uses that support the industrial activities where they do not compromise the long-term use of the land for industrial purposes. The Scheme defines Low Impact Industry as: Premises used for industrial activities that include the manufacturing, producing, processing, repairing, altering, recycling, storing, distributing, transferring or treating of products and have one or more of the following attributes:
Negligible impacts on sensitive land uses due to offsite emissions including aerosol, fume, particle, smoke, odour and noise; Minimal traffic generation and heavy-vehicle usage; Demands imposed upon the local infrastructure network consistent with surrounding uses; The use generally operates during the day (e.g. 7am to 6pm); Offsite impacts from storage of dangerous goods are negligible; The use is primarily undertaken indoors.
This planning insight report is based on a preliminary desktop appraisal of publicly available information only and is limited to this extent. Any third party who chooses to rely on information contained in this document is recommended to make their own enquiries. ANUE Commercial Real Estate will not be held liable for any decision based on this preliminary advice.
Draft Cairns Region Planning Scheme Continued The scheme provides the following examples for Low Impact Industry uses:
Repairing and servicing motor vehicles, including mechanical components, radiators, electrical components, wheel alignments, exhausts, tyres, suspension or air conditioning, not including spray painting; Repairing and servicing lawn mowers and outboard engines; Fitting and turning workshop; Assembling or fabricating products from sheet metal or welding steel, producing less than 10 tonnes a year and not including spray painting; Assembling wood products not involving cutting, routing, sanding or spray painting; Dismantling automotive or mechanical equipment, not including debonding brake or clutch components.
The Draft Scheme identifies Low Impact Industry as Self Assessable in the Low Impact Industry Zone. Also of relevance is the Draft Scheme’s definition of Service Industry which is also Self Assessable in the Low Impact Industry Zone and defined as: Premises used for industrial activities that have no external air, noise or odour emissions from the site and can be suitably located with other non-industrial uses. The scheme provides the following examples for Service Industry uses:
Audio visual equipment repair Film processing Bicycle repairs Clock and watch repairs Computer repairs Dry cleaning
Hand engraving Jewellery making Laundromat Locksmith, Picture framing Shoe repairs Tailor.
The Draft Scheme provides for the following Code Assessable land uses in the Low Impact Industry Zone:
Agricultural supplies store Animal keeping Aquaculture Brothel Bulk landscaping supplies Caretaker’s accommodation Car Wash Crematorium Educational establishment Emergency services
Food & drink outlet Garden centre Hardware and trade supplies Indoor sport and recreation Research and technology industry Showroom Veterinary services Warehouse (includes self-storage sheds) Wholesale nursery
This planning insight report is based on a preliminary desktop appraisal of publicly available information only and is limited to this extent. Any third party who chooses to rely on information contained in this document is recommended to make their own enquiries. ANUE Commercial Real Estate will not be held liable for any decision based on this preliminary advice.
Draft Cairns Region Planning Scheme Continued Identified changes in development controls introduced via the Low Impact Industry Zone Code, Industry Design Code and the Parking and Access Code include:
A maximum height of 11 metres for buildings and structures A maximum site coverage of 80% 5% of the site to be landscaped. Car Parking for Low Impact Industry is at 1 space per 100m2 of GFA or where for a motor vehicle repair workshop 1 space per 50m2 GFA is required Car Parking for Service Industry is at 1 space per 100m 2 of GFA Car Parking for Warehouse is at 1 space per 100m2 of GFA
State Interest The subject site is situated on McCormack Street which joins Andersen Street. Andersen Street is identified in the Consolidated Cairns Plan as a State Controlled Road and as such, development proposed on the subject site may require referral to the State Government for assessment during the development assessment process.
Development Potential The subject site has redevelopment potential under both the current and Draft Planning Schemes. Uses likely to be favoured will be those of an industrial, business or service nature which have minimal impacts on the surrounding land uses, utilities and road infrastructure. Environmental constraints are identified as present by both the Consolidated Cairns Plan and the Draft scheme and include the risk of flood inundation and potential acid sulphate soils. Early discussions with Cairns Regional Council’s planning department are recommended so that a full understanding of Council’s expectations for the area is garnered, environmental constraints and appropriate mitigation responses are understood and support for any redevelopment proposals can be explored. Please contact Ben Farkas if you have any further enquiries regarding the property on 0410 323 155
This planning insight report is based on a preliminary desktop appraisal of publicly available information only and is limited to this extent. Any third party who chooses to rely on information contained in this document is recommended to make their own enquiries. ANUE Commercial Real Estate will not be held liable for any decision based on this preliminary advice.