Developers keen on Yatala region
A LARGE industrial facility will be constructed in the Yatala Enterprise Area following the sale of a 8035sq m site for $2.255 million plus GST.
The new owners of the property, on the corner of Union Circuit and Link Drive, plan on building a 4000sq m factory after securing a global listed company as a tenant.
The sellers, Owlcombe Pty Ltd, linked to John and Margaret Hill, purchased the property for $2.12 million in 2006.
Cushman & Wakefield’s Dave Kertesz, who marketed the 86-90 Union Circuit property with colleague Scott Dalton, said the sale reflected a trend of increasing land prices.
“The sale reflects a rate of $280sq m, which demonstrates another strong result for the area,” Mr Dalton said. “We are continuing to see land prices increase across the Yatala Enterprise Area.”
He said it made sense for developers to investigate Yatala, with central and southern Gold Coast areas seeing land sales at more than $400sq m.
“New industrial estates such as Empire Industrial Estate and Frasers Property’s Yatala Central are selling well and we are looking forward to the release of more lots.”