Owner-occupier Big Chief Hire has bought a landmark industrial property at 1 Transport Street in Yatala on the Gold Coast for $10.65 million.

The site spans an expansive 34,380sqm of gross industrial land area, with approximately 29,680sqm of highly usable land.

The property is positioned at the entrance of the newly developed Yatala Logistics Hub, and offers a premium corner location, making it a prominent landmark at the intersection of Peachy Road and Stanmore Road.

The strategic placement ensures access to the Pacific Motorway (M1) via Exit 38 and Exit 41, facilitating quick and convenient logistics connections between Brisbane and the Gold Coast.

The property’s Low Impact zoning further adds to its appeal, making it suitable for various industrial uses.

It features a benched and compacted layout, providing an ideal foundation for future expansion and operational efficiency.

Morgan Ruig and Adrian Smith of Cushman & Wakefield handled the negotiations.

They said Yatala Logistics Hub holds a prominent position within one of the city’s most well-established industrial precincts.

Adrian Smith, Cushman & Wakefield’s Manager Brokerage Industrial & Logistics – QLD said strong demand fundamentals coupled with limited supply had put considerable upward pressure on square metre rates for industrial land over the past 12 months in the YEA and surrounding regions.

“Its prime location, halfway between Brisbane and the Gold Coast, has solidified its status as a key logistics and distribution centre for Southeast Queensland, attracting businesses seeking to capitalise on its strategic advantages,” said Morgan Ruig, Cushman & Wakefield’s Director of Industrial Sales & Leasing, QLD.

Recent industrial deals include Westbridge Funds Management’s purchase of a modern warehouse in Brisbane for $14.5 million, as it diversifies the Westbridge Diversified Fund No.4 portfolio.

Industrial vacancy across Australia’s Eastern Seaboard remains constrained, underpinning ongoing rental growth, but the rate of rental growth slowed slightly in Q2.

Knight Frank research found vacancy was sitting at 526,806sq m across the Eastern Seaboard cities of Sydney, Melbourne and Brisbane during Q2 2023, which was 36% below the same time last year.