Yes it’s business time
A four-year plan has been unveiled for a $100m business park on land next to Westfield Helensvale.
Melbourne group Sandhurst Retail and Logistics is to deliver the park on a 4.7ha site at 2 Millaroo Drv – land that sits between the M1 and the shopping centre.
The land, which has been on the market on and off for nearly three years, was at one time being eyed by the failed Masters
hardware chain. Sandhurst is buying it, in a deal yet to settle, from the Westfield centre’s owners, Scentre, REI and IPG Funds Management.
The site was valued at $18m in 2022.
The Sandhurst project, launched this week and expected to be underway by June, will see 79 strata-title industrial units built.
It will operate under the name Helensvale Business Park.
Sandhurst has a $1.7bn portfolio, with major retail and industrial projects in Brisbane and Melbourne.
Colliers and Harcourts Coastal Commercial, which is marketing the business park, says it will be the first industrial strata development of such scale in the area.
The first stage of Helensvale Business Park will involve 21 units ranging from 253 to 492sqm and priced from $1.2m to $2.3m.
Daniel Coburn, of Colliers, yesterday said the project was a much-needed addition to the city’s industrial market.
“The market is bursting at the seams, so this project will provide much needed space for Gold Coast and national businesses to expand their operations,” Mr Coburn said.
“All sizes of industrial buildings are in huge demand on the Gold Coast.
“With this park, the sizes fit into biggest gap in supply that we have.”
Ryan Hipwood, of Harcourts Coastal Commercial, said there already had been strong interest in the development. “Helensvale Business Park is a prime opportunity for commercial investors and national brands to establish a foothold in the Gold Coast,” Mr Hipwood said.
“The Helensvale site is one of the best in the region, with immediate access to the motorway placing it less than one hour from Brisbane – along with the convenience of being co-located with a major shopping centre and train station.”