Mackay’s industrial sector remains a powerhouse for investment, as demonstrated with the sale of a cornerstone site within Mackay’s leading industrial precinct reinforcing the region’s appeal to institutional capital, particularly for assets backed by strong tenant covenants and strategic positioning.
The 8,491sqm site at 33–41 Central Park Drive, Paget sold for $7.8 million and features two tilt-panel warehouses and a significant 2,662sqm hardstand area. Fully leased to Motion Australia Pty Ltd - a subsidiary of Fortune 500 giant Genuine Parts Company (NYSE: GPC) - the asset provides a secure income stream, with a three-year lease commencing in July 2024 and annual increases tied to the greater of CPI or 3%.
The demand for industrial properties anchored by global tenants remains high, as noted by Cushman & Wakefield’s National Director, Head of Investment Sales, QLD Daniel Cullinane, who sold the property with colleagues Evi Meka and Myles Fredericksen.
According to Mr Cullinane, “This transaction underscores the market’s appetite for industrial assets that pair long-term income resilience with tenant security. Properties underpinned by global covenants in growth corridors like Mackay remain highly sought-after, and this result is testament to the strength of both the asset and the regional fundamentals.”
The Paget precinct, Mackay’s premier industrial hub, benefits from excellent connectivity and a robust economic profile, with a local economy valued at $17.98 billion. Investors continue to seek opportunities in such well-positioned markets, recognising their stability and growth potential.
Evi Meka, Executive at Cushman & Wakefield, also emphasised the appeal of regional industrial assets:
“This sale highlights the depth of capital targeting income-generating assets in core regional markets. Mackay’s ongoing economic expansion and infrastructure investment continue to underpin real estate performance, particularly for well-located industrial assets with long-term tenants.”
This transaction exemplifies the ongoing trend of regional industrial assets attracting substantial investment. With Mackay’s economy on an upward trajectory, properties like 33–41 Central Park Drive will remain highly coveted, solidifying the region as a prime target for astute investors.
