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Yatala a hot spot as industrial land supply on central Gold Coast dwindles
YATALA is back on the development radar, with industrial land supply in the central Gold Coast all but dried up and demand on the rise.
Alder Developments is banking on the lack of supply and has snapped up a 11.08ha site in the Brisbane-Gold Coast corridor hub for a planned industrial subdivision.
Pat Cavanagh and Daniel Coburn from Colliers International negotiated the $3.55 million deal.
The Gold Coast-based developer fended off offers from a handful of other parties, including owner-occupiers looking to build facilities, to secure the site at 60-64 Perason Rd.
"Yatala has come alive again," Mr Cavanagh said. “Confidence is riding high at the moment and there’s a lot of activity across the board.
“Alder Developments has identified Yatala as an emerging industrial hot spot, especially considering the industrial land supply in the central Gold Coast markets is now almost non-existent.
“The low interest rate environment is continuing to drive investment activity, leading to increased demand for industrial property.”
Mr Coburn said more than 20 inquiries were fielded during the expressions of interest campaign, mostly from Brisbane and Gold Coast developers.
“Slowly and steadily, Yatala has been on the rise again and particularly over the past 12 to 18 months there has been a large volume of transactions, both leasing and sales,” he said.
“Small freehold property is trading very well through the area. But beyond the Empire Industrial Park, where much of the activity has been occurring, there’s still not much land supply available and ready to go.
“So that’s where Alder Developments has seen the opportunity.”
Large occupiers that have recently committed to the Yatala area include OjiFS (24,126sq m, under construction), Beaulieu Australia (23,051sq m, under construction) and O-I Glass (30,000sq m, and now operating).