As a Industrial property owner in Narangba Industrial Precinct, you have benefited from strong growth over the last four years and this can raises the question ”What should I do next?”.
Our role is to help you make better commercial property decisions. This can take many forms:
Unlocking equity for other investments
Exit strategy or retirement planning
Taking advantage of favorable tax situations
Capitalising on market conditions
Reducing management burden
Financing and cash flow management
Market fluctuations
Maintenance and repairs
Vacancy and tenant retention
EXPERT GUIDANCE FOR YOU
No team is better suited to helping you navigate the Northern Corridor commercial property landscape. We have been the consistent face of commercial activity in this region since 2006 and have helped our clients negotiate more than 3,600 sale and lease transactions in that time.
The following report draws on this knowledge to provide you with insights into your local market and how we can help you navigate your next commercial property decision.
Troy Sturgess
Sales & Leasing Executive
0432 701 600
troy.sturgess@raywhite.com
Chris Massie Director
0412 490 840
chris.massie@raywhite.com
What Drives the.
Narangba & Deception Bay Industrial Market?
To fully understand the opportunities and threats you will face with your commercial property, you must first understand what is driving the market.
POPULATION GROWTH
We have the population of Rockhampton moving to the immediate area over the next few decades. Caboolture West and Morayfield South will house more than 100,000 new residents. Add to this the continued expansion of North Lakes, North Harbour and Dakabin and you have one of the most significant residential growth corridors in Australia.
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 Narangba, Deception Bay and Brisbane. Future industrial land supplies to the north and west of Caboolture face major infrastructure hurdles and in any case would only provide enough supply to satisfy current demands and will barely scratch the surface of what is truly required to service this growing population.
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.
AFFORDABLE HOUSING & LABOUR
Industrial businesses across the country are struggling to access the necessary skilled labour and housing affordability and cost of commuting are the two factors that dictate workforce location. Narangba and Deception Bay 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.
Your Narangba Industrial Market Overview
The “Narangba Industrial Precinct” is defined as the corridor of industrial pockets from Motorway Business Park at Burpengary in the north, straddling the Bruce Highway south to Boundary Road, east to the Baylink Estate and west to Ferrier Road in the west.
This precinct is made up of approximately 380 strata and freehold properties ranging from small strata “man sheds” to multi hectare manufacturing and engineering workshops. The larger properties can be found on the western side of the Bruce Highway and along Potassium Street, while smaller strata units are primarily found in the Baylink, Motorway and Business Drive estates.
This area has traditionally had a higher than average ration of owner occupiers to investors, especially among the larger businesses. Though in recent years developers have begun spec building large footprint warehouses around the Boundary Road interchange. The State Government developed land of Potassium Street was formerly a High Impact/ Noxious Industry precinct, but the scale of this zoning has been reduced in recent years as surrounding residential expansion encroached on the necessary setbacks.
The uptake of land by both developers and owner occupiers since COVID has seen almost all of the previous decade’s supply glut in this region now sold, adding to the supply shortage across the region. Environmental constraints of surrounding land make further expansion in this area unlikely.
Recent Narangba & Deception Bay Sales
What The Experts Say
Narangba & Deception Bay’s Industrial property market is often dictated less by buyers and more by the consultants and industry experts those buyers look to for guidance. So, what do these experts have to say about
David Walsh Industrial Director | Herron Todd White
VALUATIONS
“The Northern Corridor commercial property market has been one of the standout performers of the last four years. Strong fundamentals of population growth, limited future supply, low rental vacancy rates and consistent year on year growth in recent sales gives us confidence in the future of commercial property values in this region.”
Mark Anyon Finance Consultant | Green Finance
FINANCE
“Appetite from financiers for commercial property investments across the Northern Corridor is extremely positive. The security of industrial assets has strengthened considerably in recent years and the terms being offered by lenders to both investors and owner occupiers is reflecting this confidence.”
Rob Martin Director | M Commercial
INVESTMENT
ADVISORS
“The volume of residential investors transitioning to commercial has never been higher. This buyer group is extremely risk averse, but the tight vacancy rates, strong rental growth and booming population make it easy for us to recommend the Norther Corridor industrial property market as a solid mediumterm investment for our clients.”
Blake Bell Director | Murray & Associates
PLANNING
& DEVELOPMENT
“The Economic Development team in Moreton Bay City Council have a real mandate for employment growth. We have seen a noticeable shift in the collaborative approach to business attraction and expansion from council in recent years, making Moreton Bay one of the more attractive areas in South East Queensland to develop or relocate your business.”
What Our Agents Say
No one does more commercial property transactions in this area than our team. They are at the coalface with businesses and property owners every day, giving them unmatched insights. So, what do they see that could impact your property in FY25?
Troy Sturgess Industrial Specialist
BUSINESS DEMAND
“Narangba has long been the epicentre for large scale manufacturing and engineering in North Moreton. The infill of North Lakes Business park and some of the smaller estates has really rounded out the service offering of this area. With staff being harder to find, the growing population catchment is a real attractor to new business coming to the area”
Ashley Rees Director | Senior Analyst
INVESTMENT & ASSET
GROWTH
“The fundamentals of increased land and construction costs, combined with growing population and development constraints for new estates should give investors supreme confidence in this market. So long as you buy functional buildings that suit the needs of businesses, you can rest easy knowing capital growth and tenant demand run hand in hand with these fundamentals.”
Chris Massie Director
DEVELOPMENT & FUTURE SUPPLY
“Few could have predicted the rapid take up of land we have seen across this corridor, with three times more land selling in the last three years than in the ten years before. We are now at the end of our supply pipeline, so expect to see demand for existing facilities intensify as businesses jockey for position. Watch for some marquee Narangba businesses to change hands in the next two years through succession planning and public company buy-outs.”
James Garnett Leasing Associate
LEASING
“ We expect to see a real “musical chairs” shuffle of tenancies over the next twelve months. Many businesses took on a second tenancy after COVID to cater for the new way consumers were behaving, without being certain what the long term change would be. Three years on, many of these leases are coming for renewal and businesses are looking to consolidate under one roof. The lack of supply will likely lead to further compromise by businesses.”
KEY INDUSTRIAL PRECINCTS
Narangba & Deception Bay forms part of an integrated corridor of Light Industry, General Industry and Mixed Use precincts that each play their part in servicing the needs of the Northern Corridor.
Bribie
Caboolture
Morayfield
North Lakes Deception Bay
Burpengary
Petrie
Strathpine
Chermside
Arana Hills
Yugar
Cashmere
Samsonvale
Aspley
Brisbane Airport
Brisbane City
Elimbah East
This is likely one of the only precincts capable of delivering serviced General Industry land in the next five years. The mixed use development will see industrial complimented by commercial, residential, community and environmental areas integrated within the master plan.
Corporate Park & Corporate Park East
Caboolture
This 124 Hectares of established General and Service industry uses is the key business precinct in the North Moreton area.
North East Business Park
83 hectares of light industry and mixed use land attached to an integrated residential community.
Caboolture West
This is the “engine room” that will drive dramatic change across the region for the next decade. A 3,480ha parcel earmarked to house more than 68,000 new residents. This is a larger population than Rockhampton and would be the eighth largest city in Queensland. It is unlikely to see serviced industrial land within seven years.
Narangba & Deception Bay Industrial
This corridor flanking the Bruce Highway is home to the majority of larger general industry and hard to locate businesses in the region. There is no room for additional expansion of this park.
North
Lakes Business Park
This fully developed Mixed Industry business park services the 25,000+ residents of the adjoining community, with service industry, retail and office users benefiting from the immediate highway access. There is no room for additional expansion of this park.
Clontarf Industrial Estate
This fully developed Industrial park services the communities of the peninsular, with service industry, retail and office users benefiting from the immediate Gateway Motorway access. There is no room for additional expansion of this park.
Petrie Mill
This business precinct encompassing Narangba and North Lakes has consistently ranked among the fastest growing regions in the country.
North Lakes recently received the status of the Australia’s est master planned community by the Property Council of Australia. Home to almost 25,000 people and providing 15,000 jobs, this is now recognised as “the new centre”, servicing the growing population between Brisbane and the Sunshine Coast.
The marquee surrounding tenants speak volumes to the quality of this precinct as a key logistics hub for the north
Brendale Industrial Estate
This has long been the largest industrial precinct in Moreton Bay, housing a self-sufficient mix of complementary local and national businesses. Recent major land transactions and commitments from national businesses sees this precinct nearing the end of its expansion potential.
Port of Brisbane
Why do so many commercial property owners trust us?
Because we help people make better commercial property decisions.
Our team of over fifty specialists makes us the largest provider of commercial real estate services from North Brisbane to Gympie. Specialising in commercial sales, leasing, property management and strategic advisory services, our team have negotiated over $1.3 billion in successful transactions for our clients and are trusted with the daily management of more than $750 million of commercial assets.
With more locally based active agents than any other office, our team of agents complete more than 400 sale and lease transactions each year. This provides our property management team with the insights necessary to maximise the value of our clients’ 700+ tenancies under management. If you own commercial property in the Northern Corridor, you will enjoy the peace of mind that comes from making decisions based on the real time market knowledge and guidance of the Northern Corridor Group.
KEY SERVICE OFFERING
Sale and leasing for properties and businesses across the Northern Corridor
Strategic marketing advice for price maximization, including tailored sales methods and targeted buyer approaches
Comprehensive due diligence coordination and property data management
Expert handling of inquiries, thorough buyer qualification, and detailed property inspections
Transparent vendor reporting and communication
Skilled negotiation of optimal offers and management of execution risk through to transaction completion
Our team structure for your project provides you with the best of both worlds. A single point of accountability leading a team of specialists:
Troy Sturgess | Narangba & Deception Bay Industrial Specialist
Meet Troy your dedicated Narangba & Deception Bay Industrial Specialist at RWC Northern Corridor Group. With a deep understanding of the local market and a outstanding history of delivering exceptional results, Troy is your go-to expert for all your industrial real estate needs.
Chris Massie | Director
Over the last 17 years, Chris has been responsible for more than 1,000 transactions in this region, making him your premier authority for all things commercial property related.
James Garnette & Michael Nides | Sales and Leasing Associates
Michael and James are at the coalface of commercial property leasing every day, giving them unmatched insight into the real time needs of businesses looking to call this area home.
Experts at handling inquiries and property inspections, their detailed approach to vendor reporting and transparent communication guarantees you are always making decisions from an informed position.
With a keen eye for evaluating and negotiating the best offers, James and Michael ensures your industrial property transactions are executed flawlessly from start to finish.
Louise Ruyg & Ashley Rees | Marketing & Analytics
Louise is your dedicated design and marketing coordinator offering comprehensive services including strategic marketing advice for price maximization and meticulous coordination of due diligence materials. This includes design and execution on all platforms and direct marketing.
Our Senior Analyst Ashley works closely with the team to ensure they are aware of market trends that help them avoid dangers and capitalise on opportunities for your specific property.
Chris Massie
James Garnett
Michael Nides
Louise Ruyg
Troy Sturgess
Ashley Rees
Career Overview
CHRIS MASSIE.
Director
His unmatched breadth of knowledge comes from more than 1,000 transactions negotiated across fifteen years in the commercial property industry. This has resulted in Chris consistently ranking in the top five commercial Ray White agents internationally. He serves as the exclusive agent and market advisor for some of the most prominent private and institutional clients in the region, including the entire Moreton Bay Regional Council commercial property portfolio.
Areas of Expertise
Large format commercial
Industrial
Major Retail/Showroom
Office
Medium / High Density Sites
Personal Awards
Elite Performer 2023/2024
Broad-acre Land
Subdivision sites / Land Estates
Townhouses / Terrace sites
Mixed Use Development Sites
Urban Renewal/ Infill Sites
Chairman’s Elite Business Leader 2023/2024
Aged Care/Retirement
Manufactured Homes Estates
Child Care Sites
School Sites
Mixed Use & Commercial Sites
Elite Performer 2022/2023
Chairman’s Elite Business Leader 2022/2023
Chairman’s Elite Business Leader 2021/2022
Chairman’s Elite 2021/2022
Elite Performer 2020/2021
Chairman’s Elite Business Leader 2020/2021
Elite Performer 2019/2020
Plus 5 earlier awards
Elite Performer 2018/2019
Career Overview
TROY STURGESS
Sales & Leasing Executive
When considering selling your most important asset it is vital that you choose the right person for the job. To make that decision you should know the background on the potential consultant you are thinking of employing.
Troy is an experienced Sales Professional, as an agent of integrity and passion for Commercial Real Estate he has all of the tools to help his clients achieve their maximum result.
Troy believes in exceptional customer service and the key to his success is through monitoring and analysing the market in order to stay ahead of his competitors, he has demonstrated the ability to think outside the square to get the job done.
Troy delivers top level service and thrives in a diverse and fast paced business environment. Troys previous employment has aligned him with selling and supporting industry leading products where the client demands unconditional commitment and exceptional customer service.
If you are looking for a Commercial Agent with a genuine commitment to get the best outcome for you give Troy a call today.
Areas of Expertise
Large format commercial
Industrial
Major Retail/Showroom
Office
Medium / High Density Sites
Personal Awards
Broad-acre Land
Subdivision sites / Land Estates
Townhouses / Terrace sites
Mixed Use Development Sites
Urban Renewal/ Infill Sites
Aged Care/Retirement
Manufactured Homes Estates
Child Care Sites
School Sites
Mixed Use & Commercial Sites
Career Overview
AARON CANAVAN
Commercial Principal | Senior Sales & Leasing Executive
Aaron’s career with the Ray White Group is distinguished by his consistent excellence and dedication to client satisfaction. From 2017 to 2024, he earned the prestigious Premier Agent awards each financial year, a testament to his outstanding performance in sales and leasing. His exceptional skills and commitment were further recognized in the 2021-2022 financial year when he was honored with both the Alan White Elite Performer Award and the Alan White Chairman’s Elite Award, underscoring his position among the top echelon of professionals in the industry.
Large format commercial
Industrial
Major Retail/Showroom
Office
Medium / High Density Sites
Personal Awards
Elite Performer 2023/2024
Broad-acre Land
Subdivision sites / Land Estates
Townhouses / Terrace sites
Mixed Use Development Sites
Urban Renewal/ Infill Sites
Elite Performer 2022/2023
Aged Care/Retirement
Manufactured Homes Estates
Child Care Sites
School Sites
Mixed Use & Commercial Sites
Chairman’s Elite 2021/2022
Elite Performer 2020/2021
Elite Performer 2019/2020
Elite Performer 2018/2019
Premier Performer 2017/2018
Premier Member 2016/2017
MAJOR TRANSACTIONS - SOLD.
70-86 Michael Avenue
4-8 Burke Crescent North Lakes $21,500,000
31 Robart Court Narangba $20,500,000
27 Lear Jet Drive
Lot 604, North Lakes Business Park North Lakes
23-25 Lear Jet Drive
284 Bruce Highway Eastern Service Rd
21-25 Hasking Street
Lot 36-41 (4-8) Burke Crescent
120-124 McKean Street
$12,000,000
$7,100,000
$5,500,000
$5,500,000
$4,600,000 100-138 McNaught Road
59 Evans Drive
78 Pritchard Road
34-36 Cessna Drive
21-31 Doon Street
159 Morayfield Road Morayfield $2,600,000
6 Bacon Street Moranbah $2,300,000
WHY WE TAKE THE TIME TO UNDERSTAND YOUR NEEDS AND PROPERTY.
SELLING | YOUR GUIDE TO OUR COLLABORATIVE PROCESS
Owning commercial property requires you to make regular decisions, both to avoid problems or to capitalise on potential opportunities. These decisions can become paralysing without the right information, costing you time, money and peace of mind.
Is now the right time to sell or should I wait?
Is my property worth more vacant or with a tenant?
How much equity could I access if I refinanced?
Does my property have any development upside?
I plan on retiring in a few years. What’s the best way to prepare for the future?
I have a lease renewal coming up. What is the current market rent and is there demand?
By following our tailored approach, we minimise the critical decisions you need to make and equip you with the information necessary to act confidently when required.
HERE’S HOW WE ENSURE YOUR SUCCESS: We start with understanding you and your property
1 Understanding Your Situation and Key Desired Outcomes
We take the time to understand your unique circumstances and what you aim to achieve
2 Evaluating Your Property
We assess the strengths and weaknesses of your property to position it effectively in the market
