Industrial land in high demand
THE sale of the Toowoomba Auction Centre for more than $1 million was a sign of growing interest in Wilsonton’s industrial property market, according to LJ Hooker Commercial agent Markus Eames.
The 7 Rocla Ct property was sold in an off-market transaction by Mr Eames and LJ Hooker Commercial principal Mike Stewart to a Brisbane developer for $1,037,500.
He said that due to the lack of new supply of industrial sheds in the Wilsonton area, there had been a rise in interest from developers and other business owners looking to acquire their own shed in the sub-$2 million bracket.
“Over the past few months we have transacted over $5.5 million worth of industrial properties in the Wilsonton area and we still have purchasers looking for other premises.”
Mr Eames said interest in the Wilsonton area was “only getting stronger”, with investors and businesses wanting to be close to the industrial hubs of Witmack and Wellcamp to the city’s west.
The suburb’s proximity to the Toowoomba Second Range Crossing interchanges - which is planned for completion by the end of this year - was another key factor.
“There are not a lot of new sheds being built in that west side industrial area. There’s an under supply for businesses or investors to buy assets out there,” he said.