Yearning for Yatala
Buyers keen for piece of industrial hot spot
YATALA is back on the development radar with industrial land supply in the central Gold Coast scarce and demand from users and investors 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 other parties to secure the site at 60-64 Pearson Rd.
“Yatala has come alive again,” Mr Cavanagh said. “Confidence is riding high 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 more demand.”
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 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 a lot of land supply available.
“So that’s where Alder Developments has seen the opportunity.
“With the industrial land supply on the central Gold Coast being all but dried up – effectively locking out developers and users – the next logical place to go is Yatala.”