Investors are retreating to the shed, with industrial warehouse projects in Coolum and Cooroy experiencing high levels of demand for Henzells Commercial.
Only a handful of opportunities remain at HM Developments’ Coolum Beach and Cooroy Business Parks as investors seek the stability and solid returns on offer for industrial units in an otherwise unpredictable market.
The first stage of the master planned Cooroy Business Park offering 39 architecturally designed strata-titled industrial units at Taylor Court is now complete, featuring a variety of sizes for a wide scope of end uses.
For example, a 65sqm unit priced at $162,500 plus GST is arguably the most cost effective industrial unit of its kind currently offered on the Coast. Other options include two 76sqm units priced from $186,200 plus GST, a number of 96sqm units from $199,900 plus GST and several 109sqm sheds up for grabs with approvals in place for 40sqm of unconstructed mezzanine space and two car spaces. Henzells Commercial Manager, Paul Bell, says that in some cases units were tenanted from day one of settlement, offering net returns of $22,000 per annum or more.
Meanwhile, opportunities are fast diminishing at Coolum Beach Business Park, a 33-unit boutique industrial development currently under construction at Quanda Road. Testament to the value and quality of the development, only two units remain - both 196sqm warehouses with 85sqm of mezzanine from $495,000 plus GST.
“HM Developments have exceptionally high standards in delivering architecturally designed industrial projects of this size,” Paul said. “Commercial investors are achieving excellent returns of approximately 6% net once leased, with an increasing number of buyers unlocking their superannuation to purchase a unit and put a tenant in place.”
He said buyers were a mix of people needing personal storage or looking to run e-commerce related businesses or trades, with the potential to convert concrete mezzanines to office space proving an attractive drawcard.
Check out the listings here for both developments:
Cooroy Business Park
Coolum Beach Business Park