S U N S H I N E C OA S T O F F I C E
MICHAEL SHADFORTH COMMERCIAL SPECIALIST 0488 981 076
EMILY PENDLETON SALES & LEASING EXECUTIVE 0402 435 446
JORDAN HAYES SALES & LEASING EXECUTIVE 0417 999 331
JULIE RYAN MAJOR ASSET SALES 0447 445 453
SUNSHINE COAST
PINE RIVERS
MORETON BAY
1/172 Brisbane Road Mooloolaba QLD 4557
Level 1, 104 Gympie Road Strathpine, QLD 4500
3/125 Morayfield Road Morayfield QLD 4506
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
DIRECTOR’S U P D AT E S
NORTHERN CORRIDOR GROUP
MICHAEL SHADFORTH
CHRIS MASSIE
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.
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.
DIRECTOR UPDATE
Director Sunshine Coast
Director Moreton Bay
ONE TEAM - THREE LOCATIONS
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.
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, 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 has 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.
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 S U N S H I N E COA S T O F F I C E NORTHERN CORRIDOR GROUP
THIS MONTH’S FEATURE ARTICLE WRITER IS VANESSA RADER HEAD OF RESEARCH AT RAY WHITE CORPORATE
BETWEEN THE LINES
The future for the Sunshine Coast is bright, the recent SEQ Cities Deal securing this location as one for growth of a liveable, vibrant, economic viable city harnessing local business, knowledge and entrepreneurship. Population growth continues to be strong with the appeal of lifestyle and affordability now seeing greater interstate migrants come to the region after a strong few years of losses to the southern states. However, as housing stress becomes more apparent in these locations, the attraction of Sunshine Coast and its economic and business possibilities have been heightened for many young families and start-up businesses. Sunshine Coast Office Indicators - Net Supply (sqm) v Total Vacancy (%) 25,000
Sunshine Coast Office Indicators - Net Absorption (sqm) 14,000 12,000
20,000
10,000 8,000
15,000
6,000 10,000
4,000 2,000
5,000
Net Supply
-4,000
Ja n19
Ja n18
Ja n17
Ja n16
Ja n15
Ja n14
Ja n13
Ja n12
Ja n11
Ja n09
Ja n19
Ja n18
Ja n17
Ja n16
Ja n15
Ja n14
Ja n13
Ja n12
Ja n11
Ja n10
Ja n09
Ja n08
-5,000
-2,000
Ja n10
0
0
Source Propety Council of Australia
Total Vacancy % (RHS)
The recent Property Council of Australia’s Office market report highlights the growing demand for employment (office) space across the Sunshine Coast. Local jobs growth continues to be increasing, heavily influenced by the growing small business numbers all seeking accommodation. This increased business demand has benefited both the industrial and office markets in this area with a large uptick in investment activity. The office market however has gone through a period of rejuvenation over the past few years, the completion of new stock to this market over the past two years has provided much needed A grade accommodation to attract these small businesses. 2018 saw the completion of 21,716sqm of new space including both the new Youi and Budget Direct Headquarters, while 2017 additions including Kon-Tiki (16,000sqm) and 50 Wises Road (5,200sqm). This high level of uncommitted supply additions was destined
to increase vacancy levels to their current January 2019 rate of 21.8%. Despite this historic high vacancy factor, the net absorption recorded over these two years were 5,334sqm and 7,139sqm respectively; this level of take up akin to other much larger suburbans markets around Australia like St Kilda Road and Macquarie Park. This healthy ongoing improvement in occupied stock levels highlighting the appetite for this type of quality accommodation in this location. These results also show the minimal absorption of secondary grade assets which further emphasises the need for older style accommodation to investigate repurposing or repositioning their current offering. The flight to quality as well as business expansion has seen much of this vacant A grade stock absorbed in early 2019 with the likelihood of rapid vacancy reductions seen over the next 12 months further aided by the withdrawal of secondary assets.
FOR LEASE - NEW OFFICE PROPERTIES Size <200 200-500 >500
LAST QUARTER Median Size 85 326 805
Quantity 56 9 4
Annual Rent/m2 $335 $256 $303
Size <200 200-500 >500
THIS QUARTER Median Size 75 265 732
Quantity 77 13 5
Annual Rent/m2 $346 $262 $290
Quantity 11 8 1
Sale Price/m2 $4,300 $3,590 EOI
FOR SALE - NEW OFFICE PROPERTIES Size (m2) <200 200-500 >500
LAST QUARTER Median Size 120 240 805
Quantity 13 7 1
Sale Price/m2 $4,452 EOI $3,230
Size (m2) <200 200-500 >500
THIS QUARTER Median Size 87 305 629
SUNSHINE COAST OFFICE ACTIVITY NORTHERN CORRIDOR GROUP
LISTED SALE/LEASE
Ray White Commercial, Northern Corridor Group RESEARCH TEAM.
A summary of the key Listed, Leased and Sold property data in your area. ADDRESS
SUBURB
NLA M2
SALE $/M2
LEASE $/M2
Lease
17/2-4 Ocean Street
Maroochydore
25m2
-
$624.00
Lease
10A/110 Sixth Avenue
Maroochydore
32m
2
-
$400.00
Lease
10/160 Mudjimba Beach Road
Mudjimba
58m
2
-
$334.04
Lease
5/96 Aerodrome Road
Maroochydore
62m2
-
$237.83
Lease
8/3-5 Ballinger Road
Buderim
66m2
-
$512.00
Lease
3/31-33 Plaza Parade
Maroochydore
83m2
-
$422.89
Lease
5/167-171 Brisbane Road
Mooloolaba
84m
2
-
$229.95
Lease
2/3 Woomba Place
Mooloolaba
95m
2
-
$98.53
Lease
5/79 Brisbane Road
Mooloolaba
103m
2
-
$339.81
Lease
54-56 Blackall Terrace
Nambour
157m2
-
$245.22
Lease
4 Hill Street
Palmwoods
180m2
-
$241.67
Lease
5/61-63 Primary School Court
Maroochydore
303m2
-
$270.00
14 Lindsay Road
Buderim
273m
Sale
2
EOI
-
LEASED & SOLD STATUS
ADDRESS
SUBURB
NLA M2
SALE $/M2
LEASE $/M2
Leased
2.15/51-55 Bulcock Street
Caloundra
20
-
$300.00
Leased
2/49 Bulcock Street
Caloundra
33
-
$300.00
Leased
9/49 Bulcock Street
Caloundra
52
-
$250.00
Leased
2E/3 Woomba Place
Mooloolaba
95
-
$158.74
Leased
5/96 Aerodrome Road
Maroochydore
62
-
$237.83
Leased
5/79 Brisbane Road
Mooloolaba
103
-
$339.81
CASE STUDY
NORTHERN CORRIDOR GROUP
4/156 ALEXANDRA PARADE ALEXANDRA HEADLAND With the excitement of the Maroochydore expansions, it has become clear the enthusiasm is now spilling into surrounding suburbs, with the beautiful beachside suburb of Alexandra Headland seeing a $1,000,000 facelift that has been catered to appeal to all age groups, seeing the skatepark updated and approvals for highly sought after outdoor fitness areas. With this growth, we also see demand within the commercial real estate industry. Emily Pendleton negotiated the sale of the offices at 4/156 Alexandra Parade, Alexandra Headland. The owner who was originally looking to lease, but long-term vacancy prompted the sale when the right offer hit the table. This highlights the demand for tenants looking to buy there own premises as interest rates remain continue to fuel the owner occupier market, with low stock levels prompting sale offers on leases stock.
TYPE Office
LISTED 10 Jan 09
SOLD 6 Feb 09
INSPECTIONS 4
OFFERS 2
Contact Emily Pendlton for more information or to discuss your own property needs
SALE PRICE $379,500
[PREMIER AGENT]
MARKETING $0
0402 435 446
AGENT PROFILE
NORTHERN CORRIDOR GROUP
As Managing Director/Commercial Principal, Michael brings more than twenty years of successful sales and innovative marketing experience from a broad range of industries to the team. His expertise and proven history provides Ray White Commercial Northern Corridor Group clients with the strategic advantage in tailoring investors and tenants to projects so that all parties’ needs are addressed and the project is a success.
He represents the next generation of the well-known and iconic Shadforth family, which has a long history and wealth of experience in development, project management, consulting and contracting throughout Australia.
MICHAEL SHADFORTH COMMERCIAL PRINCIPAL 0488 981 076 michael.shadforth@raywhite.com
RECENT NOTEWORTHY TRANSACTIONS D
PR
E EEDE R MO IES N T ER P O
ED D! S NEED E S IE
D!
A LE OPERT R
EP
R MO
2019 ARE YOU THINKING OF SELLING OR LEASING?
Speak to your local area experts today
E OR
M
L E SOPERTI O
PR
172 Brisbane Road, MOOLOOLABA
1/32 Aerodrome Road, MAROOCHYDORE
• From 50m - 144m ground floor space • Additional storage available with rear roller door access • Exclusive Use Car Parking • Street Car Parking a • Ample Signage Opportunities
• Total floor area of 189m2 • Combined with 114m2 ground floor, 69m2 first floor and a 6m2 exclusive use rear balcony area • Ample onsite car parking • Internal amenities upstairs and downstairs
2
2
Leased - $33,370 P/A Gross
Northern Corridor Group
M
PR
E OR
M
SOPERT
D
DE
! EE LD IES N
A LE OPERT
E OR
D!
Sold - $725,000
ED D! S NEED E S IE
We don't wait, we hunt!
SOL
ED
ED
E SN
O
PR
21 Heathfield Road, COOLUM BEACH
Lots 2 & 3/8 King Street, BUDERIM
• Free standing premise therefore no body corporate fees • Ample exclusive use car parking • 161m2 space available plus 41m2 boardroom • Generous rental incentives • District Centre Zoning allowing
• Tenant: McGrath Real Estate Buderim • Operational: 5 years in this location • Lease Commencement: 8/7/2018 • Lease Expiry: 7/7/2023 • Option: 1 x 5 years • Current Net Rent: $86,718.00
Leased - $45,000 P/A Net
Sold - $1,280,000
PROPERTIES FOR SALE OR LEASE NORTHERN CORRIDOR GROUP
E AL DED S R EE
E AL DED S R EE
O SN S FERTIE E IC OP
O SN S FERTIE E IC OP
F R OF ORE P
F R OF ORE P
M
M
14 Lindsay Road, BUDERIM
17/27 Evans Street, MAROOCHYDORE
• Situated on a 943m2 block in Buderim • Located directly opposite the Post Office & Buderim Central Shopping Centre • The entire top floor (or part thereof) is available to purchase - one option being 120m2, 153m2 or the entire floor plate for example • Stylish, boutique architecturally-designed building of only a small number of tenancies with character and a pleasant outlook
• 55m2 • Ample natural light throughout • Abundance of onsite car parks • Signage opportunities available • Carpeted & ducted air-conditioning throughout • Both lift & stairwell access available • Easy access available to the Sunshine Motorway • Excellent exposure to main road, complex is neighbouring the Sunshine Plaza
For Sale - Contact Agent Emily Pendleton
OR
For Sale - $220,000 + GST Emily Pendleton
E AS ED E L ED
SE D EA NEEDE L R S
E SN
S FPERTIE E C FI PRO
S
A&B 61-65 Sixth Avenue, MAROOCHYDORE
12/140-144 Alexandra Pde, ALEXANDRA HEADLAND
• 56m2, 100m2 or a total of 156m2 available • Zoned for a variety of business - Office, Medical/ Consulting or RetaiL • Two seperate entrances, both beautiful glass shop fronts with exposure to Sixth Avenue and ample signage opportunities • Located within high profile resort Beaches on Sixth' • Walking distance to the beach • Ample car parking surrounding
• Approximately 77m2 space • Ground floor position • Beautifully fitted out with high ceilings • Located within the Aquarius Beach Resort complex with access to allow resort amenities • Zoned for a variety of business - Office, Medical/ Consulting or Retail • Available for sale or lease
OFMORE
IE E OOPERT L A R EP
R MO
From $28,000 P/A Net Michael Shadforth & Emily Pendleton
For Lease - Contact Agents Emily Pendleton & Michael Shadforth
For a full list of current opportunities for sale or lease visit raywhitecommercialnortherncorridorgroup.com.au
OUR TEAM
NORTHERN CORRIDOR GROUP
SUNSHINE COAST
MORETON BAY
MICHAEL SHADFORTH COMMERCIAL PRINCIPAL 0488 981 076 michael.shadforth@raywhite.com
CHRIS MASSIE DIRECTOR 0412 490 840 chris.massie@raywhite.com
JULIE RYAN MAJOR ASSET SALES 0447 445 453 julie.ryan@raywhite.com
ASHLEY REES SENIOR PROPERTY ANALYST 0411 707 410 ashley.rees@raywhite.com
EMILY PENDLETON SALES & LEASING EXECUTIVE 0402 435 446 emily.pendleton@raywhite.com
WARWICK PETERS SENIOR BUSINESS BROKER 0412 234 231 warwick.peters@raywhite.com
JORDAN HAYES SALES & LEASING EXECUTIVE 0417 999 331 jordan.hayes@raywhite.com
AARON CANAVAN SALES & LEASING EXECUTIVE 0447 744 948 aaron.canavan@raywhite.com
JASON WRIGHT ASSET MANAGEMENT SPECIALIST 0451 497 368 jason.wright@raywhite.com
BLAKE PRIMROSE SALES & LEASING EXECUTIVE 0423 555 043 blake.primrose@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