Leasing begins on Gold Coast industrial project

JAGONAL-GoldCoast

Enterprise Industrial Park development in Molendinar is a new industrial revolution for the core Gold Coast industrial precinct, offering quality and size like never seen before in this market. Being the only brand new industrial development on the Gold Coast it is due to attract many large tenants with the first stage construction commencing earlier this month.

Pat Cavanagh, Director of Industrial at Colliers International on the Gold Coast, who is marketing and leasing the development with his colleague Daniel Coburn, said the first stage is due for completion in February next year and will comprise a large modern sophisticated industrial building covering 8,116sq m, with the ability to be subdivided into areas of 500sq m and upwards.

“We have only just launched the project and we are already inundated with large tenant requirements ranging from 1,000sq m to 17,000sq m. It is highly likely that the first stage will be pre committed prior construction completion, and as this happens the owners will be launching the second stage offering an additional 9,000sq m of warehouse space.

“Most developers will generally seek pre commitment before undertaking construction particularly for a project of this size. However the Hutchins family who are local developers and business owners, made a decision to spec build given the remerging demand for large warehouse, distribution, logistics and manufacturing space.

“They took a ‘build it and they’ll come approach’, after a number of large tenant requirements of 4,000sq m and over couldn’t be filled last year.

“The owners are confident in the Gold Coast industrial market and feel the time is right as it is finally entering a period of rejuvenation after the GFC with large tenants seeking bigger and better requirements.”

Mr Cavanagh said the Hutchins family run Asco International Pty Ltd, a footwear distribution and retail chain with such brands as Famous footwear and London Rebel, operating out of a warehouse in Molendinar.

“They purchased this site from Bruce Williams of Southport Timbers in April 2013 for $6.05 million a day before the auction,” said Mr Cavanagh.

The development is located on a 33,600sq m site at 27-29 Industrial Avenue in Molendinar. The building will offer high visibility to Olsen Avenue, and will be accessed via Industrial Avenue and Enterprise Street offering drive in/drive out capability.

The construction of the first stage which is due for completion in February 2015 is being project managed by Nick Ray from One Sector Constructions.

The building in stage one will feature the following:

• 10 to 11.5 metre internal clearance with 16 high clearance roller doors;

• Concrete panel construction and EFSR sprinkler systems;

• Large hardstand, Semi & B-double truck access with drive through capabilities;

• Large container set down, loading/unloading areas with awnings;

• Corporate air-conditioned offices; and

• Large three-phase power supply for manufacturing.

• Gated and secured complex

Mr Cavanagh said the final product will be the most superior industrial facility within the Gold Coast market.

Click here to discover more about Colliers International.

 

Image credit – “Skypoint Observation Deck” by Phalinn Ooi via Creative Commons Attribution 2.0

By: JAGONAL

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