Market Report - The Emily Pendleton Team

Abi Rowlands Sales & Leasing Associate to Emily Pendleton 0402 028 663

Manager 0422 786 675 Emily Pendleton Associate Director - Senior Sales & Leasing Executive 0402 435 446

Bianca Jensen-Woof Sales & Leasing Associate to Emily Pendleton 0434 053 164

Bianca Nash Executive Assistant to Emily Pendleton 0421 388 303

“If you want a haircut, go to the barber”.

This simple saying stuck in my head this year when a client explained why he came to us for advice on his commercial property.

To put this into context, our RWC Northern Corridor Group team had more agents on the ground and completed more transactions in FY24 than any other commercial real estate firm across the Northern Corridor.

151 SALES worth over $300,000,000 for our clients

246 LEASES secured more than $15,400,000 in rent for our clients

While no-one has a crystal ball, we can be quite certain that the following key drivers will continue to influence the Northern Corridor commercial property market in the next financial year:

Ashley Rees Director | Senior Analyst 0411 707

410

Northern Corridor Market Drivers

FY 2025

POPULATION GROWTH

We have double the population of Rockhampton projected to move to the Northern Corridor over the next two decades, which makes this area one of the most significant residential growth corridors in Australia. The investment in infrastructure and the positioning of businesses to capitalise on this workforce and customer base is already noticeable and will continue to drive investment in the coming year.

LAND SUPPLY CONSTRAINTS

The next five years in particular will see further tightening of what is already a chronic supply shortage of industrial land in the region. Vacant industrial rates have increased from $285m2 in 2020 to over $550m2 in 2024. There is now no remaining land earmarked for General Industry subdivision between Caboolture and Brisbane and a recent needs analysis identified that the Sunshine Coast was almost 400ha of a “healthy” future supply pipeline.

CONSTRUCTION COSTS

Construction prices have been a major source of the CPI issues that drove the interest rate hikes of 2023. There has been a perfect storm of international conflict, labour shortages, fuel, materials and competing infrastructure projects impacting all facets of commercial construction. The South East Queensland market has been impacted more than most areas due to the Olympic infrastructure pipeline of projects that has taken tier 1 builders out of the private industrial construction pool. This, combined with the land supply constraints, will likely see continued upward pressure on finished product costs for new industrial buildings.

AFFORDABLE HOUSING & LABOUR

Industrial businesses across the country are struggling to access the necessary skilled labour. With housing affordability and cost of commuting being the two factors that dictate workforce location the Northern Corridor is positioned to provide rapid relief to this pent up demand. Caboolture West alone has the potential to supply close to 40,000 new homes, spurred on by the Government’s Affordable Housing mandate. This is proving doubly attractive for businesses in the trade services and building supply industries, who want to position themselves to servicing the demand from the same residential construction projects that this new labour force will call home.

Recent Transactions

SOLD $715,000

9/11-15

• Ground floor area: 176m2

SOLD $1,240,000

• The project has delivered more than 2,000m2 of retail including an IGA Supermarket, and a 2,500m2 health precinct.

• Additional 12m2 fully enclosed airconditioned office/storage mezzanine

• 3 exclusive car spaces included

• 3 phase power to two internal points

• Other tenants include a doctors’ practice, national pharmacy, dentist, hairdresser, gym, bottle shop, mixed food vendors and many more.

• Full height remote controlled roller door for easy heavy vehicle access

• Security gates to two external doors

Emily 0402 435 446 | Bianca 0434 053 164

Samuel Hoy | 0423 795 273

SOLD $475,000

• Current income of $30,691.06 per annum

• Lease expires on 28/02/2026

• $297,518 P/A NET allowing for future rental upside

• 2 x 3 year options

• Rare high exposure site on a significant thoroughfare

• Net lettable area of 129m2* (excluding awning & mezzanine)

• Exclusive use under cover awning area

• Building is well maintained and is equipped for food manufacturing with limited options on the Sunshine Coast

• Bonus mezzanine area above false ceiling

• Ample signage and branding opportunities

• Two high performing tenants provides less risk and future flexibility

Emily 0402 435 446 | Abi 0402 028 663

Michael 0488 981 076 | Samuel 0423 795 273

•218m2 warehouse (160m2* ground floor + 58m2 mezzanine)

• Brand new two (2) year lease in place at $80,000 P/A Net (Outgoings paid by Tenant)

• NBN on site

• 396m² warehouse with an additional 40m² mezzanine

• High clearance electric roller door

• Good street access

• Reception area and upstairs air-conditioned office

• Internal amenities

• Open plan layout

• Internal bathroom

• LED high bay lighting

• 3 phase power with 100 amps

• Quality tilt slab construction

Samuel 0423 795 273 | Charlee 0431 135 900

Emily 0402 435 446 | Bianca 0434 053 164

SOLD $580,000

• 83m2 high profile retail shop

• Nett $194,359.63* per annum

• Net income of $38,000 per annum

• 4,000m2* high exposure allotment

• Long term tenant in place

• Security bond of 2 months held

• 1,395m2* warehouse plus 100m2* mezzanine

• Lease expiry in 2026 with two three-year options

• Securely fenced site with usable concrete hardstand

• Outgoings payable by the tenant

• 5 year lease term expiring 31/07/2025

• Excellent branding opportunities

• 2 x 5 year options with market reviews

Emily 0402 435 446 | Abi 0402 028 663

Michael 0488 981 076 | Samuel 0423 795 273

12/27 CORONATION AVENUE, NAMBOUR

RUNWAY DRIVE, MARCOOLA

3/53 ENTERPRISE STREET, KUNDA PARK

12/43 BURNETT STREET, BUDERIM

LEASED $30,652 P/A + OUTS + GST

LEASED $55,000 P/A + OUTS + GST

186m2* total internal floor area

• Unit 1: 562m2 including 142m2 mezzanine

• 115m2* ground floor warehouse

• Unit 2: 562m2 including 142m2 mezzanine

• Air conditioned office fitout

• Additional 44m2* mezzanine/office and 27m2* air conditioned office

• Total complex 1,124m2*

• Secure undercover parking

• 16 car parks in complex

• Bay height roller door

• NBN and staff facilities

• Kitchen & bathroom facilities inside the unit

• High quality tilt slab construction

• Specialised Centre Zone

• Only one neighbour in complex

Samuel 0423 795 273 | David 0481 996 794

Emily 0402 435 446 | Abi 0402 028 663

LEASED $43,500 P/A + OUTS + GST

• Internal floor area of 106m2*

• Sizes from 163m2* - 343m2*

• Provision for an exhaust fan and access to a grease trap which could suit food tenant

• High exposure corner location with branding opportunities

• Internal amenities for staff

• Has just been totally renovated with fresh paint, air-con and ceiling

• High clearance roller doors

• 15 on-site car parks

• Perfect for medical, allied health, office, retail or food

• Street frontage and branding opportunities

• Highly accessible driveway

• Fast NBN connectivity

Emily 0402 435 446 | Abi 0402 028 663

Samuel 0423 795 273 | Charlee 0431 135 900

303m2 high clearance, open plan warehouse

• Available immediately

• Showroom opportunities between 773m2*1,226m2*.

• Zoned Specialised Centre Zone

• High exposure and brand opportunities

• Office/staff facilities

• Ample on site car parking

• Internal amenities

• High-speed NBN

• High clearance roller doors and personal access doors

• Internal amenities and kitchen

• 44 on-site car parks

• High roller door

• Easily accessible location

Emily 0402 435 446 | Bianca 0434 053 164

Samuel 0423 795 273 | Michael 0488 981 076

LEASED $34,400 P/A + OUTS + GST

• 215m²* tilt slab warehouse with mezzanine

• Total area: 62m2*

• Frontage to Nicklin Way

• 2 x offices on the ground floor with additional office area upstairs

• Air conditioning

• Office in high profile location

• Exceptional exposure for signage

• Internal amenities on the ground floor and mezzanine

• Signage opportunities onsite

• Affordable outgoings with owner covering body corporate levies

• Close proximity to Sunshine Motorway & national retail operators

Emily 0402 435 446 | Bianca 0434 053 164

Charlee Livesey | 0431 135 900

1A/63 KARAWATHA STREET, BUDERIM

9/34 PAGE STREET, KUNDA PARK

11/82 SUGAR ROAD, MAROOCHYDORE

3/9-11 NEWSPAPER PLACE, MAROOCHYDORE

The Emily Pendleton Team are here to support your commercial property decisions, with up to date facts, market trends and Local expertise. To start the appraisal process contact us today to discuss your needs!

Emily Pendleton Associate Director - Senior Sales & Leasing Executive 0402 435 446

Abi Rowlands Sales & Leasing Associate to Emily Pendleton 0402 028 663

Bianca Jensen-Woof Sales & Leasing Associate to Emily Pendleton 0434 053 164

Bianca Nash Executive Assistant to Emily Pendleton 0421 388 303 Andy Zhao Commercial Property Manager 0422 786 675