NORTHERN CORRIDOR GROUP
1ST QUARTER 2019
IN THE KNOW COMMERCIAL PROPERTY FOCUS C E N T R A L S U N S H I N E C OA S T
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, 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 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 CENTRAL SUNSHINE COAST NORTHERN CORRIDOR GROUP
THIS MONTH’S FEATURE ARTICLE WRITER IS AGENT JORDAN HAYES OF RAY WHITE COMMERCIAL NORTHERN CORRIDOR GROUP
YOUR AREA UPDATE We define Central Sunshine Coast as the traditional industry hubs of Kunda Park and Forest Glen.
There has been little change in the macro elements of the market for this region since our last report, with limited functional stock remaining the main element impacting activity across Kunda Park and Forest Glen. Closer analysis of enquiry levels and transactions have provided us with some interesting observations that property owners in this precinct should find interesting. Firstly, we have reviewed enquiry sources across the Sunshine Coast and found that the lack of serviced industrial land in the immediate area has businesses looking slightly further afield to accommodate upcoming growth requirements. This is particularly true for Caloundra’s Aura estate and, to a lesser extent, Coolum, where we see Kunda Park businesses beginning to search. We can expect some shuffling of businesses out of this precinct over the coming year, but pent up demand from within should see any functional properties quickly filled. The second observation is that 100% of tenanted investments listed in this area have sold. Enquiry levels indicate buyer sentiment remains strong, especially among local buyers familiar with Kunda Park and its position as an industrial hub of the Sunshine Coast. Finance reforms and interest rate adjustments may take some of the steam out of the investor market as a whole later in the year, but there is no other reason why demand for tenanted properties in this precinct from private investors shouldn’t remain strong for those owners looking to sell in the first half of 2019.
5
5 4
LISTED
FOR SALE (JULY - DEC)
4
5
4
SOLD (JULY - DEC)
LISTED
FOR LEASE (JULY - DEC)
>500m2
200-500m2
0-200m2
>500m2
200-500m2
0-200m2
>500m2
0-200m2
>500m2
2
3
200-500m2
3
200-500m2
0-200m2
3
4
5
LEASED (JULY - DEC)
KUNDA PARK ACTIVITY
NORTHERN CORRIDOR GROUP
LISTED FOR LEASE / SALE
Ray White Commercial - Northern Corridor Group RESEARCH TEAM The following is a summary of the key Listed, Leased and Sold properties ADDRESS
SUBURB
BUILDING SIZE 750m2
ADVERTISED SALE PRICE
-
RENT
Lease
93 Enterprise Street
Kunda Park
Lease
2 Mallet Street
Kunda Park
Sale
33 Enterprise Street
Kunda Park
159m2
$350,000
Sale
40 Kerryl Street
Kunda Park
143m2
$375,000
Lease
21 Endeavour Drive
Kunda Park
312m2
Lease
14 Hitech Drive
Kunda Park
456m2
-
Sale
24 Hoopers Road
Kunda Park
295m
$575,000
Lease
4 Robert Street
Kunda Park
200m2
Sale
7 Hitech Drive
Kunda Park
1,312m2
$2,250,000
Sale
10 Avian Street
Kunda Park
240m2
$590,000
Lease
50 Enterprise Street
Kunda Park
927m2
106 Enterprise Street
Kunda Park
155m2
Lease
17 Page Street
Kunda Park
199m
Lease
32 Hoopers Road
Kunda Park
905m2
Lease
3 Hitech Drive
Kunda Park
179m2
-
$110,000
Lease
Sale & Lease
30 Hitech Drive
Kunda Park
381m2
$750,000
$45,000
Sale
56 Enterprise Street
Kunda Park
635m
Auction
$76,223
Lease
27 Enterprise Street
Kunda Park
127m2
-
$15,679
Sale
9 Avian Street
Kunda Park
300m2
$565,000
$30,000
13 25m
2
2
2
2
-
$86,250 $145,000
$34,320 $39,660
$25,000
$18,600 $21,890 $120,000 $17,368
SOLD STATUS
ADDRESS
SUBURB
BUILDING SIZE
PRICE
DATE SOLD
$1,950,000
29/11/2018
Sold
70 Hoopers Road
Kunda Park
722m2
Sold
30 Hitech Drive
Kunda Park
381m
POA
19/11/2018
Sold
10 Avian Street
Kunda Park
240m2
$540,000
23/10/2018
Sold
2 Page Street
Kunda Park
6764m2
Sold
16 Hitech Drive
Kunda Park
Sold
3/4 Avian Street
Sold
56 Enterprise Street
Sold Sold
2
$1,500,000
24/09/2018
465m
2
$885,000
31/08/2018
Kunda Park
98m
2
$210,000
31/08/2018
Kunda Park
635m2
$980,000
20/08/2018
1-3 Kessling Avenue
Kunda Park
84m
2
$2,055,000
13/08/2018
9 Avian Street
Kunda Park
300m
2
$515,000
02/08/2018
PROPERTY MANAGEMENT
NORTHERN CORRIDOR GROUP
Dedicated Service We manage your property like it’s our own... We constantly look at strategic value-add initiatives to improve your property’s capital value whilst driving your investment and maximising its returns. Our specialist management team negotiates on your behalf to generate maximum return to you for every lease and tenancy, always focusing on improving your yield. You can rely on us to manage your administrative processing and reporting as well as protecting and growing your asset at all times. We manage all repairs and maintenance, establishing and negotiating maintenance contracts to reduce outgoings. We proactively rectify issues before they become problematic and undertake regular reviews, using our group buying power to improve cost efficiencies.
We understand and have thorough working knowledge of commercial property legislation to ensure your legal obligations are managed. We also keep abreast of legislative changes by way of professional development courses. Our aim is to tailor our service to your requirements and investment goals. Contact our property managment team today: Jason Wright, Commercial Asset - Investor Support Manager 0451 497 368 | jason.wright@raywhite.com Cassie Mahoney, Commercial Asset - Portfolio Manager 1300 25 50 75 | cassie.mahoney@raywhite.com Staci Tobin, Commercial Property Manager - Pine Rivers 07 3889 8000 | staci_tobin@raywhite.com
Retail Shop Leases Recent changes to the Retail Shop Leases Amendment Act 2016 has the potential to impact property owners of what would traditionally be considered industrial units, exempt from the additional obligation and expense of the Act. New definitions of what constitutes a Retail Shop now includes any business interacting face to face with customers. What this means for industrial property owners is the traditional Commercial Tenancy Agreement (CTA) used by many owners and agents will no longer provide certainty of tenure and could even see the owner liable for damages, if used in the wrong scenarios. Until the dust settles on this new legislation and the precedents are set in stone, the safest course of action is to seek advice from your solicitor or call our property management team and talk through the implications for your property.
So what does a Retail Shop Lease (RSL) mean for owners? The key differences are as follows:
• RSL preparation costs cannot be passed on to the tenant
• Land tax and sinking fund levies are not recoverable outgoings under an RSL
• Detailed outgoings must be disclosed atleast 7 days prior to signing
• Outgoings must be audited annually for net leases
• Leases must be registered within 3 months of signing by the tenant
Jason Wright, Commercial Asset - Investor Support Manager 0451 497 368 | jason.wright@raywhite.com
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!
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16 Hitech Drive, KUNDA PARK
14 Page Street, KUNDA PARK
1-3 Kessling Avenue, KUNDA PARK
• 465m2 of GFA on a 1,041m2 site • The Property is strategically located in the established CBD location of Kunda Park situated 4.7kms from the Bruce Highway and 10kms to the Sunshine Coast Airport
• Building: 506m² of GFA • 1,046m2* site • Zone: Medium Impact Industry Zone • Premium location • Tenant in place until 31 May 2020
• Currently tenanted for $145,074.12 p.a.* • Under 10% site coverage • Premium industrial precinct close to Bruce Highway & Sunshine Motorway • 8,305m² / 2.05 acres
Sold $885,000
Sold $875,000
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11/34 Page Street, KUNDA PARK
9/24 Hoopers Road, KUNDA PARK
• 445m2 Ground Floor area • Approx. 205m2 of additional mezzanine • Clean & tidy industrial complex • High clearance roller door • Off-street car parking
• 294m2* warehouse / GF showroom • 30m2* office mezzanine • 6m* high roller door • Toilet & kitchenette facilities • Solar panels installed
Sold $660,000
Sold $560,000
PROPERTIES FOR SALE OR LEASE NORTHERN CORRIDOR GROUP
D SE NEEDE A E S
R L RTIE FOPROPE RE
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1/526 Maroochydore Road, KUNDA PARK
5/33 Enterprise Street, KUNDA PARK
• Land Area - Lot 1, 3,424m2 • Building Area - Lot 1, 2,016m2 • Hardstand attached • Cold rooms & freezers • Grease trap connections • Toilet facilities • Ample onsite car parking • High exposure to Maroochydore Road
• 159m2 ground floor, open plan warehouse • 25m2 air-conditioned office/mezzanine • High clearance roller door & personal access door • 3 exclusive car parks • Low outgoings (body corporate, rates & water) • Internal amenities • Located in the heart of Kunda Park, just off Maroochydore Road with easy access to Sunshine Motorway & Bruce Highway
For Lease - Contact Agents Emily Pendleton & Michael Shadforth
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For Sale - $350,000 + GST (if applicable) Emily Pendleton
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1A/49 Industrial Avenue, KUNDA PARK
1/11 Endeavour Drive, KUNDA PARK
• Steel clad warehouse area: 229m2 • Air conditioned office area: 59m2 • Total 288m2 • Onsite car parking available • Zoning: Medium Impact Industry • 3 phase power • Sales yard 600m2 also available by negotiation
• 157m2 warehouse, 36m2 mezzanine & 39m2office • Front and side roller doors providing good cross ventilation and easy access • 3 phase power • Phone & internet cabling throughout offices and warehouse • Secure fully fenced hard stand area • Toilet and shower facilities • Ample onsite car parking
For Lease - $46,560 P/A Net Jordan Hayes & Michael Shadforth
For Lease - $25,850 P/A Net Emily Pendleton
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 0429391675 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
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