Brisbane’s owner-occupier industrial market continues to go from strength to strength, according to sales data from JLL.
The commercial real estate services company has now completed six owner-occupier transactions in the region since October last year.
JLL industrial executive Fraser Power and director Nick Bandiera have handed all six transactions, with the latest seeing local owner-occupier Aquahub find their new distribution centre at 15 Torres Crescent in North Lakes, some 30 km north of the Brisbane CBD.
Formed in 2016, Australian distribution company Aquahub deliver aquarium and pet products to the local retail market.
With assistance from JLL, the company has secured a 1,282sqm freestanding industrial building, which was built by a local developer and sold to Aquahub for $2,650,000 – reflecting a strong building rate of $2,067/sqm.
Situated on a 2,590sqm allotment, the building provides a fully fenced site with direct access to Diamond Jubilee Way through to the Bruce Highway, making it ideal for the company, which is reliant on access to Northern and Southern markets.
“Specialising in the distribution of aquarium and pet related products to the Australian retail market, Aquahub’s operations have grown exponentially over recent years and the company was in need of a corporate headquarters with easy access to the motorway,” explained Mr Power.
“Following a search from their existing site in Geebung up to North Lakes in Brisbane’s northern industrial area, the group committed to the building while still under construction.”
Mr Power said with the cost of capital low, and business confidence strong off the back of fiscal stimulus, there was a clear resurgence in the owner-occupier market.
In the past six months, the duo have completed five other transactions:
- 30 Kremzow Road, Brendale for $3.45m
- 62 South Pine Road, Brendale for $4.25m
- 277 Toombul Road, Northgate $3.9m
- 16 Pineapple Street, Zillmere for $2.25m
- 515 Zillmere Road, Zillmere for $3.088m
Mr Bandiera said that after exhaustive searches on behalf of tenants, they were now seeing the vast majority of these companies turn to owner-occupier searches after recognising the favourable purchasing environment.
“Owner-occupier and investor acquisition, whilst both at heightened levels, have incurred a reduced spread which shows the strength of the broader industrial market. With no signs of the market slowing, we anticipate this increase in owner-occupier activity to continue through to the end of 2021,” he said.