26 August 2022 - The Narangba industrial market continues to tighten, with a high level of enquiries and competition for all assets across sales and leases.
Vacancy is continuing to fall with tenants finding it tougher to find available stock due to the high levels of competition.
The compression in vacancy and increased competition for tenancies is driving rents up, offsetting some of the inflationary pressures, continuing to make the Narangba precinct a very attractive investment destination, as evidenced by three transactions in the past month to owner occupiers and investors looking to capitalise on demand and limited supply.
Property fund, Centennial has snapped up a brand-new tilt panel 2,962sqm* warehouse and corporate office at 22 Mineral Sizer Court Narangba for $7.05 million.
The 5,718sqm* land is zoned general industry and offer direct access to the Bruce Highway via Boundary Road Interchange, as well as dual cross over access, four electric container height roller doors, a large 6m wide awning for all weather loading/unloading and as 8.6m to 10m internal height.
Situated in the popular Boundary Industrial Zone (BIZ) Estate just 22 minutes north from Brisbane Airport, other users in the BIZ Estate include Nick Scali, Australia Post, CSR Gyprock Trade, Metal Flex, Marinucci Packaging & MMD Australia.
A Sydney Fund has purchased a 5,493sqm warehouse and office split into two buildings at 33 Magnesium Street, Narangba for $9.7 million on a 5.73 per cent yield.
With a long-term lease to Premier Pet Pty Ltd to December 2030, the property sits on 9,777sqm* of land zoned general industry, offering a large 6m wide awning for all weather loading/unloading.
This property is located in the Narangba industrial estate and provides easy access to the Bruce Highway Interchange via Boundary Road. Narangba is just 25 minutes north of Brisbane Airport.
A private owner occupier has purchased a high bay, temperate controlled, clear span 2,639sqm warehouse at 17 Business Drive Narangba for $6.2m on a 4.82 per cent yield, with plans to share the building with the current tenant who is on a four-year lease.
The property sits on a 4,966sqm general industry site and offers multiple roller door access, professional office over two levels, a huge 3 phase power supply, easy truck access & turning, ample concrete hardstand for container set down & parking and is located in the Booming Narangba Industrial precinct, with direct access to major arterials including the Bruce Highway and Gateway Motorway.
The three deals were negotiated by Mitch Taulelei, Morgan Ruig and Luis Plazibat of Cushman & Wakefield on behalf of private vendors.
According to Mitch Taulelei “The Narangba region is becoming increasingly popular with businesses, due to its proximity to Brisbane and the Sunshine Coast and investors are wasting no time in snapping up what little stock is available.”