M O R AY F I E L D & C A B O O LT U R E C B D
CHRIS MASSIE COMMERCIAL PRINCIPAL 0412 490 840
ASHLEY REES SENIOR SALES & LEASING 0411 707 410
AARON CANAVAN SALES & LEASING EXECUTIVE 0447 744 948
BLAKE PRIMROSE LEASING ASSOCIATE 0423 555 043
MORETON BAY
SUNSHINE COAST
PINE RIVERS
3/125 Morayfield Road Morayfield QLD 4506
1/172 Brisbane Road Mooloolaba QLD 4557
Level 1, 104 Gympie Road Strathpine, QLD 4500
T 1300 255 075 F 1300 778 887
T 1300 255 075 F 1300 778 887
T 1300 255 075 F 1300 778 887
ONE TEAM - THREE LOCATIONS
1 ST QUARTER 2019
DIRECTOR’S U P D AT E S
NORTHERN CORRIDOR GROUP
CHRIS MASSIE
MICHAEL SHADFORTH
The launch of new estates like Aura in Caloundra and Corporate Park East, Caboolture as well as the continued expansion of Brendale, will provide some relief but we expect demand to continue
As a child of the Sunshine Coast and now a father myself, it is the diverse education and employment opportunities available to the younger generation that I believe will have the greatest long-term impact.
outstripping supply through 2019. Director Moreton Bay
DIRECTOR UPDATE
ONE TEAM - THREE LOCATIONS
Our expansion into the Brendale and North Brisbane markets through our Pine Rivers office has provided some interesting insights, with the strength of industry across the North Brisbane and Moreton Bay regions being the defining take-away of 2018 for me. On review of our transactions across the region, the lease and sale of industrial buildings accounted for close to 60% of all deals, outperforming office, retail, showrooms and hospitality combined. The implications for this trend becomes concerning when combined with the analysis of properties actually available across the region. The launch of new estates like Aura in Caloundra and Corporate Park East, Caboolture as well as the continued expansion of Brendale, will provide some relief but we expect demand to continue outstripping supply through 2019. Opportunities exist across all sectors this year and we will be closely tracking the trends. At the start of 2018 our team had set ourselves the goal of being the commercial property experts for the Northern Corridor, so much so that we changed our name to reflect this. We are proud of the work done to date and promise to continue providing you with the knowledge, resources and support to ensure your next property decision is made from an informed position of strength.
.
Director Sunshine Coast
The first quarter of 2019 for the Northern Corridor is set to continue the generally positive trajectory we witnessed across 2018. While housing prices in the southern capitals have taken a hit, many are still capitalising on the price disparity to sell up and move north. This is reflected in our domestic migration numbers that have parts of the Northern Corridor among the fastest growing precincts in the country. The result is a solid baseline increase across almost all measurable sectors of our market, but it is the intangible benefits that excite me just as much. As a child of the Sunshine Coast and now a father myself, it is the diverse education and employment opportunities available to the younger generation that I believe will have the greatest long-term impact. Recent infrastructure programs like the Undersea Cable, University Hospital, Sun Central, the international airport and Aura has seen the Sunshine Coast quickly become a serious contender on the global economic stage, and I for one am excited to see where we are headed.
RAY WHITE COMMERCIAL NORTHERN CORRIDOR GROUP ANNUAL SALES & LEASING Annual Sales $70,363,885 47 Industrial 19 Retail 10 Office 19 Land 5 Other
Annual Leases $6,298,459
96 TOTAL SALES
67 Industrial 47 Retail 36 Office 3 Land
157 TOTAL LEASED
SPOTLIGHT ON MORAYFIELD & CABOOLTURE CBD NORTHERN CORRIDOR GROUP
THIS MONTH’S FEATURE ARTICLE WRITER IS AGENT ASHLEY REES OF THE NORTHERN CORRIDOR GROUP
YOUR AREA UPDATE The activity across the Caboolture/Morayfield retail and office market over the last quarter has been solid, without being spectacular. For the office market, the government funded professional services continues to drive the bulk of the requirements. These come with a very specific list of compliance requirements that some of the older facilities are not able to meet without significant retro-fit investment by owners. This investment can often prove lucrative, but requires an element of “build it and they will come” to ensure timelines can be met. The exodus of the big 4 banks from King Street in recent years left a glut of office space with custom fit outs that suited very few tenants. This trend has been repeated across regional centres, as branches downsize due to online banking and centralisation or outsourcing of administration teams into larger hubs. The good news is our leasing team has now filled the last of this remaining space, with a State Government department committing to the whole of the former NAB office at 7 Morayfield Road.
Our predictions for this precinct: The geographical expansion limitations of Morayfield Road and the footprint constraints of the Caboolture CBD will pressure owners and tenants to continue to compromise function and fit out to maintain their presence in a rapidly expanding area. Lack of rental growth, increasing construction cost and the inability of government tenants to pre-commit to unbuilt facilities in the office market will restrict the ability of developers to produce new in-fill development. Convenience retail will remain strong in well located, high traffic areas with quality anchor tenants (fuel, supermarket) but secondary retail will continue to tread water. Strong population projections are an undeniable force that will ensure long term growth for property owners able to weather the storm of medium term vacancy concerns.
Retail options along Morayfield Road remain quite limited, though minimal enquiry indicates there is not a great deal of supply/demand disparity. Even in this precinct, lease deals have been dominated by industrial and service industry users taking up secondary space, as opposed to more traditional high visibility retail. This is reflected in our leasing team’s Active Enquiry Register, which currently has 39 industrial requirements, vs 10 office and 10 retail.
Coffee
Lowe r Ki ng St r ee t M e nu
One positive indicator is the level of developer enquiry for on and offmarket sites with potential for convenience, fuel and fast food uses through King Street and Morayfield Road. The new Starbucks on Lower King Street is sure to do a booming trade with the battle-weary medical staff at the nearby hospital and a similar development is nearing completion on Bellemere Road that is perfectly located to capitalise on that expanding western catchment.
VA C A N C I E S SIZE
AV E R A G E R E N T
THIS QUARTER
SIZE
THIS QUARTER
0-200m2
25
0-200m2
$338
200-500m2
5
200-500m2
$315
>500m2
3
>500m2
$294
MORAYFIELD & CABOOLTURE CBD ACTIVITY NORTHERN CORRIDOR GROUP
Ray White Commercial - Northern Corridor Group RESEARCH TEAM
LISTED SALE/ LEASE
The following is a summary of the key Listed, Leased and Sold properties
ADDRESS
SUBURB
TYPE
BUILDING AREA (M2)
LAND AREA (M2)
PRICE P/A
NET OR GROSS
SALE
4/64 William Berry Drive
Morayfield
Office/Retail
408m2
-
POA
-
SALE
9/30-36 Dickson Road
Morayfield
Warehouse
251m2
-
$469,000
-
SALE
4/19 Lear Jet Drive
Caboolture
Office
130m
-
POA
-
SALE
8 Lee Street
Caboolture
Office
285m2
762m2
$825,000
-
SALE
12 Station Road
Morayfield
Office
240m2
9,798m2
POA
-
SALE
179 Oakey Flat Road
Morayfield
Land/Development
-
1000m2
POA
-
SALE
4/30-36 Dickson Road
Morayfield
Warehouse
-
$550,000
-
SALE
11-13 Bertha Street
Caboolture
Office
1,358m2
1,622m2
POA
-
LEASE
2/12 Annie Street
Caboolture
Office
194m2
-
LEASE
3/12 King Street
Caboolture
Office
603m2
-
LEASE
3/99-103 Morayfield Road
Morayfield
Retail
77m
2
-
$30,000
Net
LEASE
8/6-12 Dickson Road
Morayfield
Warehouse/Office
212m2
-
$35,520
Net
LEASE
33/8-22 King Street
Caboolture
Office/Retail
174m2
-
$44,790
Net
LEASE
4/156 Morayfield Road
Morayfield
Office/Retail
210m2
-
$86,400
Net
283m
2
2
$58,200 NEG
Net -
SOLD & LEASED LEASED /SOLD
ADDRESS
SUBURB
TYPE
AREA (M2)
SOLD PRICE LEASED P/A
NET/ GROSS
$/SQM
SOLD
10/30-36 Dickson Road
Morayfield
Industrial
240m2
$415,000
-
$1,729
SOLD
9 King Street
Caboolture
Office
411m2
$1,360,700
-
$3,310
SOLD
17 Hasking Street
Caboolture
Office
540m2
$2,150,000
-
$3,981
LEASED 7 Morayfield Road
Morayfield
Office
601m2
POA
-
-
LEASED 1/287-289 Morayfield Road
Morayfield
Industrial
280m
2
$55,700
Gross
$198
LEASED 2A/287-289 Morayfield Road
Morayfield
Industrial
200m2
$24,000
Net
$120
LEASED 5/69 King Street
Caboolture
Office
210m2
$74,200
Net
$353
GENERAL INDUSTRY LAND PURPOSE BUILT LEASE HARDSTAND LEASE
Port of Brisbane
Brisbane CBD North Lakes
Brendale
North Harbour
Corporate Park
The opportunity Bruce HWY 3 Mins
Airport 25 Mins
You can now secure fully serviced General Industry land lots in Caboolture’s first estate release for over ten years. Corporate Park, at the Bribie Island Rd and Bruce Highway interchange, has long been the area’s preferred location for industrial tenants and owneroccupiers in Moreton Bay. The estate is now at capacity, so eyes are turning to the next release of Corporate Park East. Contact us today for a price list or to help design your ideal premises.
Port of Brisbane 30 Mins
Northern Corridor Group
CHRIS MASSIE chris.massie@raywhite.com 0412 490 840
ASHLEY REES ashley.rees@raywhite.com 0411 707 410
AGENT PROFILE
NORTHERN CORRIDOR GROUP
Chris Massie is a renowned and respected sales and leasing agent, known as an authority on commercial and industrial properties across the Moreton Bay Region. He has an innate ability to guide his clients, both buyers and sellers, throughout the sales process in commercial real estate. He joined Ray White Commercial after working in the special projects division for a national civil company and has established himself as a dominant presence in the
Moreton Bay Region over the last ten years. His unmatched stock knowledge and ‘boots on the ground’ work ethic sees him consistently ranked in the top 10 Ray White agents in the country.
CHRIS MASSIE SENIOR SALES & LEASING EXECUTIVE 0412 490 840 chris.massie@raywhite.com
RECENT NOTEWORTHY TRANSACTIONS D!
E OR
M
L E SOPERTI
ED
D!
ED
E SN
O
PR
E OR
M
L E SOPERTI
ED
ED
! ED ED S NE
ED
E SN
AS IE LE OPERT
O
PR
RE
MO
PR
5/75 Flinders Parade, NORTH LAKES
4/299 Morayfield Road, MORAYFIELD
41 Dalton Street, KIPPA-RING
• 310m comprising of 200m on the ground floor + 110m2 mezzanine • Architecturally designed office/ warehouse units • Container height roller doors • On site car parking
• 200m (approx) warehouse • 150m2 of exclusive use yard • 3 year lease ending 2020 - Cross Fit gym • Returning $21,331.80 per annum Net • Tenant pays 100% of outgoings
• Freestanding Warehouse/Fully Lockable • 1012m2 Lot • 742m2 Total Floor Space Comprising of: • 580m2 Open Plan Industrial Warehouse • 112m2 Approved Mezzanine • 50m2 Air-conditioned Office Space
2
2
Sold - $660,000
2
Sold - $305,000
Leased - $66,000 P/A Net
OFF MARKET TRANSACTIONS ADDRESS
SUBURB
SETTLED
LEASED / SOLD
PRICE ($)
292 Anzac Avenue
Kippa-Ring
December 2018
SOLD
$1,650,000
72 Lear Jet Drive
Caboolture
February 2019
SOLD
$1,800,000
34-36 Cessna Drive
Caboolture
September 2018
SOLD
$3,500,000
Lot 1 Peter Rash Court
Caboolture
February 2019
SOLD
$723,000
PROPERTIES FOR SALE OR LEASE NORTHERN CORRIDOR GROUP
ED LE NEED A S ES
D
N EEDE TIO IES N
C T AUROPER
RE
MO
P
R TI FO ROPER
RE
MO
P
650 Old Gympie Road, NARANGBA
2/262 Leitchs Road, BRENDALE
• High profile 4,226m2 corner lot • Flexible General Industry Zoning • 900m2 approx. building area • Combination of office and clear span warehouse • Low site coverage with expansion or development potential
• 102m2 Warehouse • 79m2 Ground Floor + 23m2 Mezzanine • Net Income $18,000 P/A • Outgoings paid by Tenant • Leased until 15/09/2020 • Brand New Modern Warehouse w/ internal amenities • Full Height Roller Door • Exclusive On-Site Parking
• Auction 14 March On-Site 10am Auction Chris Massie
E DED ALES NEE S R TI
FO ROPER EP
For Sale - Contact Agents Chris Massie & Aaron Canavan
E DED ALES NEE S R TI
FO ROPER EP
R MO
R MO
145-223 Old Toorbul Point Road, CABOOLTURE
115 Old Toorbul Point Road, CABOOLTURE
• 16ha freehold General Industry land (exact size subject to subdivision process) • Located in one of Australia's fastest growth corridors • Immediate highway access • Flood free land clear of remanent vegetation • Part of "Elimbah East Employment Area" • Adjoining proposed masterplanned development
• 8,000m2 parcel of Light Industry Zoned Land • 225m2 approx. Colourbond Shed with 6 roller doors • 4 Bedroom, 2 bathroom house • High exposure to Bruce Highway • Opportunity to live and work from home • Future development opportunity • Rapidly growing area
For Sale - Contact Agents Warwick Peters & Chris Massie
For Sale - Contact Agent Chris Massie
For a full list of current opportunities for sale or lease visit raywhitecommercialnortherncorridorgroup.com.au
OUR TEAM
NORTHERN CORRIDOR GROUP
MORETON BAY
SUNSHINE COAST
CHRIS MASSIE DIRECTOR 0412 490 840 chris.massie@raywhite.com
MICHAEL SHADFORTH COMMERCIAL PRINCIPAL 0488 981 076 michael.shadforth@raywhite.com
ASHLEY REES SENIOR PROPERTY ANALYST 0411 707 410 ashley.rees@raywhite.com
JULIE RYAN MAJOR ASSET SALES 0447 445 453 julie.ryan@raywhite.com
WARWICK PETERS SENIOR BUSINESS BROKER 0412 234 231 warwick.peters@raywhite.com
EMILY PENDLETON SALES & LEASING EXECUTIVE 0402 435 446 emily.pendleton@raywhite.com
AARON CANAVAN SALES & LEASING EXECUTIVE 0447 744 948 aaron.canavan@raywhite.com
JORDAN HAYES SALES & LEASING EXECUTIVE 0417 999 331 jordan.hayes@raywhite.com
BLAKE PRIMROSE SALES & LEASING EXECUTIVE 0423 555 043 blake.primrose@raywhite.com
JASON WRIGHT ASSET MANAGEMENT SPECIALIST 0451 497 368 jason.wright@raywhite.com
PINE RIVERS PETER LAURENT SALES & LEASING EXECUTIVE 0429 391 675 peter.laurent@raywhite.com
TREVOR NELSON-JONES SALES & LEASING EXECUTIVE 0407 736 521 trevor.nelson-jones@raywhite.com
JUMA MARSTELLA SALES & LEASING EXECUTIVE 0450 360 321 juma.marstella@raywhite.com
BROCKE HAMBRECHT SALES & LEASING EXECUTIVE 0466 599 724 brocke.hambrecht@raywhite.com
raywhitecommercialnortherncorridorgroup.com.au
facebook.com/rwcncc
twitter.com/rwcncc
instagram.com/rwcncc