Yatala popularity grows
AN ARUNDEL builder has fully leased an industrial facility it recently built at Yatala.
Cowan Restoration Services has taken the second tenancy at 48 Commerce Circuit, signing a five-year lease with a five-year option for 663/sq m at the facility, which was built by Clarke’s Design and Construct.
The lease commenced this month.
The rate was not disclosed, however, it is understood the deal was struck at $120/sq m net.
Clarke’s built the 1237/sq m facility earlier this year after purchasing the 2000/sq m block for $560,000 ($616,000 including GST) last year.
The property leased to Cowan includes two motorised roller doors, nine car parks, 169/sq m of office space, and 404/sq m of warehouse room.
Colliers International’s Daniel Coburn, who negotiated the lease, said Cowan chose to relocate from Beenleigh to a more modern facility.
“The leasing market in Yatala has been gaining momentum with a lot of businesses that are expanding and relocating to the area due to its modern facilities and excellent infrastructure,” Mr Coburn said.
He said the first tenancy was occupied earlier by a warehousing company.
Cowan, which was founded in 2002, provides professional fire and water damage restoration services.