LORY’S BOLD EMPIRE VISION TAKES IMPRESSIVE SHAPE
PARADISE Point-based builder Lory Construction will move into Yatala’s $1 billion Empire Industrial Estate after signing up contracts worth $20 million.
The firm, headed up by director Nick Lory, has been appointed to design and construct 12 of the 14 warehouses underway in the estate.
It comes as the development, launched by familyowned company The Stephens Group, records a big year in sales with the sellout of stage four and 70 per cent of land in stage five sold.
Mr Lory said the move to Empire would make it easier to help shape the development’s future stages.
“We are making the move to fully immerse ourselves in the delivery of new buildings in future stages,” he said.
“Working from site will provide the advantage of being able to more easily and efficiently manage projects from conception to completion, and as an owneroccupier we will have a real stake in ensuring building standards remain high across the board.”
Mr Lory said it was putting the final touches on six warehouses, set to be ready before Christmas, and home to commercial glazing company Ultimate Tools and Fasteners and Labels Plus Qld, which is moving from Meadowbrook.
Lory Construction will start work on another six warehouses in the New Year, with completion set for June.
The Stephens Group director Tony Stephens said he anticipated 2018 would be another strong year in the industrial land market.
“We have just released stage six, comprising 13 lots, as demand for industrial land on the northern Gold Coast continues to strengthen,” he said. “Land has been selling for more than $315sq m in stage five, which is still affordable when you look at nearby markets.”
Empire Industrial Estate is being rolled out on a 127ha site with frontage to Peachey Rd.
The Stephens Group is developing the estate on land formerly home to Darlington Park International Raceway.