New industrial estate released
SUNCOAST Business Park industrial estate located in Coolum is currently under construction, with demand on the Sunshine Coast for this asset class at an all-time high.
Scott Gardiner of Savills has been appointed to act as the marketing agent for stages one and two at the entrance to the well-established and thriving Coolum Industrial precinct.
Stage one comprises of eight lots which are all available for immediate purchase off the plan.
Mr Gardiner said civil construction work commenced three weeks ago, with the development predicted to take 16 to 20 weeks until completion, placing the settlement date within the third quarter of 2018.
"Industrial land has been and is currently in strong demand, and with the volume of industrial land being sold over the last two or so years, the Sunshine Coast as a whole, and in particular Coolum, is looking at a shortage of supply over the next two to three years," Mr Gardiner said.
Mr Gardiner said he sees a greater issue with industrial land supply moving further past that, as there are no more large pockets earmarked for Industrial precincts moving past five to 10 years.
The available lots range from 2587sq m for $439,790 plus GST to 5346sq m for $989,010 plus GST, with Mr Gardiner already having sold Lot 1 and placing Lot 23 under contract with separate buyers.
"Lots under 5000sq m within Coolum are limited, with no more plans in the pipeline after this industrial estate is built,
"With the current growth of the Sunshine Coast and strong economic and business growth predicted to come off the back of this, industrial land could become a premium in the not-so-distant future," Mr Gardiner said.
"We have already seen price increases over the past six months with the sell-out of the existing Watpac Stages 5 and 6 within the Central Park Coolum Estate.
"The developer of this estate is already looking at increasing prices once Stage 1 of the Suncoast Business Park is sold out.
"Within the Central Sunshine Coast region, industrial land in Kunda Park, Kawana, and Noosaville is all sold out with very limited chances for resales within these locations due to the majority of the precincts being built out.
"At this stage, there is only the Caloundra Government and Stockland's Aura that services the southern section of the Sunshine Coast," Mr Gardiner said.
Stage 1 has just been released:.
Lot 1 - SOLD at asking price;
Lot 2 - 2846sq m $498,000 + GST;
Lot 3 - 2600sq m $442,000 + GST;
Lot 4 - 2600sq m $442,000 + GST;
Lot 20 - 2698sq m $458,660 + GST;
Lot 21- 2930sq m $498,100 + GST;
Lot 22 - 4389sq m $790,000 + GST;
Lot 23 - 5346sq m $989,010 + GST (going under contract).
What: Suncoast Business Park: Limited release of eight lots under construction in established industrial estate
Features: Prime positioned industrial land. Lots from 2587sq m to 5346sq m. Titles due late 2018
Price: From $439,790 plus GST up to $989,010 plus GST
Agent: Scott Gardiner, Savills
Contact: 0415 679 112