YATALA ENTERPRISE AREA A STAR PRECINCT
INDUSTRIAL property sales soared more than 60 per cent on the Gold Coast in 2020 off the back of strong demand for space in the Yatala Enterprise Area.
According to the latest Colliers International Gold Coast Research and Forecast report, $826m (properties valued at more than $5m) worth of commercial property changed hands in the past year. The total included $364m of industrial property assets – a figure 65 per cent higher than 2019.
Eighty per cent of those sales came from the YEA and were anchored by corporate tenants such as Aldi, Woolworths and Seabest.
“This result reflects the improved status of the YEA industrial precinct as a logistics hub able to service three million people,” associate director of research Karina Salas said. “In light of this status, institutional investors have become more predominant within the Gold Coast industrial market and they are expected to remain as active players in 2021.”
Ms Salas said average prime net effective rents increased 2 per cent in the YEA while three of the four precincts saw an increase of 12.5 per cent.
Colliers Gold Coast director-incharge Steven King said he expected population growth and infrastructure investment to support a gradual economic recovery this year.
“Investments in projects like the $1.53 billion Coomera Connector will continue to improve regional connectivity and spread economic growth beyond traditional and wellestablished locations like Surfers Paradise and Broadbeach,” he said.
“Over the years ahead, we expect to see further infrastructure investment in transport connectivity and integration between Brisbane and the Gold Coast favouring a surge in investment and leasing demand for residential, office, retail and industrial assets.”