Stone mason cuts deal for expansion
A company which crafts stonework for the booming domestic and commercial property sectors has bought new premises in the Bohle to expand its business.
Townsville Stone has acquired 108-110 Enterprise St, a large warehouse and yard previously used by Atlas Copco and built by Saw Formwork.
Business owner Mal Crumpler said when they moved into the premises later this year it would more than triple their current floorspace and provide under cover storage to boost stock.
It would also pave the way
for further big investments in machinery.
Part of the 1600sq m warehouse will be reserved for new line saw equipment the business is buying to greatly improve its capacity and cutting speeds.
Mr Crumpler said much of the company’s business was in the supply of kitchen and bathroom benchtops for the region’s home construction market but they were also making inroads into commercial work, recently winning a contract to supply stonework for the new $80m luxury hotel being built next to The Ville Resort Casino in Townsville.
“We are busy. We recently won the contract for work on the new hotel. That was a big tick to buy this property so we have more space to swing some tools,” Mr Crumpler said.
The business has a 17 staff, including five apprentice stone masons.
Knight Frank Partner, Head of Agency, Townsville
and Mackay, Paul Dury said the industrial property market had tightened massively in the past 12 to 18 months, especially for owner-occupiers like Townsville Stone seeking new premises.
Mr Dury said few established warehouses were available and only five blocks of land were left in a state government-owned Bohle Industrial Estate where prices had firmed considerably.
“What we should start to see now is uplifts in rent,” he said.
Mr Dury said many major projects were under way, keeping construction, supply and services companies busy.
He said about 70 per cent
of inquiries were from contractors and business owners, both existing and new to town, looking for premises.
“There’s a lot of business confidence in Townsville at the moment.
“It’s very encouraging. There are a lot of projects under way and that work is going to last for a while,” Mr Dury said.
Townsville Stone’s property includes a two-level, 344sq m office, 1637sq m warehouse with 20-tonne gantry crane, a 400 amp power supply and about 2400sq m of heavy-duty concrete hardstand.
The site was acquired for $3.4m.
IT’S VERY ENCOURAGING. THERE ARE A LOT OF PROJECTS UNDER WAY AND THAT WORK IS GOING TO LAST FOR A WHILE PAUL DURY