Demand for industrial property on the Sunshine Coast is so strong that there is not one block between Noosa and Caloundra remaining for sale.
According to Raine & Horne Commercial Sunshine Coast Commercial Sales and Leasing Director David C Smith, high demand and tight supply will ultimately put pressure on prices in the area for the remainder of 2022.
And it’s not just industrial land that has hit a significant peak, with overall market activity across the Sunshine Coast commercial market heating up.
“In the six weeks leading up to the middle of December, we completed as many sales and leasing transactions under my banner as I had in the previous six months,” David said.
“We had 44,000 people move to the Sunshine Coast over the last year, and the local population is set to reach 500,000 by 2031, and the issue is we don’t have enough commercial property stock to keep up with demand.”
The demand for the types of businesses seeking industrial property was varied, David said, with IT companies seeking storage facilities, to a rise in businesses within the liquor industry, such as boutique beer breweries.
David added that the low interest rate environment had seen a boost in small and medium-sized enterprises (SMEs) looking to invest in the industrial and office sectors.
“However, the lack of stock hinders people from doing what they want to do,” he explained.
There was more good news ahead for the region’s commercial property market with the Walker Corporation’s long-term $2.5 billion investment in the Maroochydore City Centre, known as Sun Central, set to transform the area, David said.
The Walker Corporation has negotiated an agreement with Sunshine Coast Council to develop a 53-hectare greenfield site in the heart of Maroochydore.
The development will transform the CBD into the 21st century with about 160,000 sqm of commercial and retail space, in addition to 4000 residential apartments.
“We expect people with small businesses moving here from interstate and Brisbane will drive demand for space within Sun Central,” David said.
For all your commercial property sales and leasing needs on the Sunshine Coast, contact Raine & Horne Commercial Sunshine Coast on 07 54 211 3409 or 0412 712 680