Raine and Horne Commercial

4 Area Spotlight: Logan Situated between Brisbane and the Gold Coast, marks the Logan region as a very convenient and highly sought after commercial precinct. The region is home to a number of local, national and international companies for a multitude of industries and businesses in key suburbs such as Slacks Creek, Loganholme, Meadowbrook, Kingston, Woodridge, Underwood, Browns Plains, Hillcrest & the now highly popular Berrinba. Our Logan area specialists Andrew Honeybone and Graeme Wa s are seeing the transactions that are occurring in the area being made up of approx. 70% leases and 30% sales (based on monthly transactions in the area). With enquiry levels on the rise post COVID-19 restrictions our local professionals are predicting a growth in sales. “With record low interest rates resulting in more tenants being in a position to become owner occupiers we are starting to see a shift in enquiry towards buyers across a number of building size ranges” said Sales & Leasing Executive Andrew Honeybone. “With these interest rates expected to stay low we expect these enquiries to result in rising sales activity with both owner occupiers and investors. Due to the nature of the area, a large portion of the stock currently on the market is under 600m 2 , with very few buildings available in the 750m 2 – 1,500m 2 range” Andrew added. “Buildings in the larger size bracket are becoming increasingly more difficult to find, therefore when they do come onto the market the initial enquiry level is great and in many instances they don’t stay on market for long. When buildings can’t be found emerging areas such as Berrinba have taken off with land being utilised for high quality purpose built facilities for major tenants” said Graeme. Berrinba is now arguably the ho est Logistics location in Southeast Qld. With the Logan Motorway upgrade now completed travel time to all corners of SEQ is now at its most efficient and cost effective for logistics operators. Speculative and purpose built warehouses are available for Lease starting at 5000sqm up to 50,000sqm or larger. Major industrial REIT have snapped up land in the area and are pressing forward with development. The area has B Double access and 24 hour operations are possible in areas. Tenants already in the area include Ceva, Toll, Mitre 10, DHL and McPhee Distribution to name a few. “With li le to no land available this close to a major motorway the Berrinba area will long be the location of choice for Logistics and business” said Graeme. When asked about current market rentals across the Logan area, both Andrew & Graeme agreed. “We are seeing A- Grade industrial buildings lease from $105-$115/m 2 plus Outgoings depending heavily on features such as quality and location”. “B-Grade stock sits in the $85-$100/m 2 plus Outgoings”. In summary, Graeme and Andrew both agree that there is a shift in the market following the challenges of COVID-19. Online views of properties and enquiries are on the rise as some confidence starts to return in certain industry sectors. For the remainder of 2020 we see positive signs that enquiry levels should continue an upward trend. With this in mind tenants and buyers in the market place will need to be ready to act fast to secure their preferred property option in some instances. Major Transactions Completed by Raine & Horne Commercial: Berrinba 70,000sqm of land in total over 4 lots Sold to an owner occupier for a 3 stage logistics centre to be constructed with 36,000 of net le able area. Kingston 207 & 251 Queens Road consisting of 30,000sqm of land with 3,090sqm of sheds Sold to an owner occupier with development upside. If you are considering placing your Logan property on the market, we encourage Sellers / Landlords to ensure their property is presented to the market in the best possible light to maximise enquiry levels. If you would like to discuss how to best present your property to the market please contact any of our professionals below. Andrew Honeybone 0400 572 917 | andrew@RnHcommercial.com.au Graeme Wa s 0418 180 902 | graeme@RnHcommercial.com.au