Council shells out $21m for new utilities hub

GOLD Coast City Council will build a new utilities hub in Carrara after shelling out almost $21 million for a fivehectare parcel.

Gordon Corp, run by developer Tim Gordon, has sold two lots to the council spanning 5.8ha at its City Link Industrial estate in Carrara for $20.95 million.

GCCC is planning to build a new water and sewer depot, including a 4000sq m office building, workshops, storage, maintenance facilities and hardstand. About 300 staff will be based at the new hub.

The new facilities centre will be connected via two ramps to an existing maintenance depot on an adjoining site to the north.

Colliers International’s Pat Cavanagh, who negotiated the off-market deal with colleague Marlon Crawford, said the sale represented an injection of confidence into the industrial sector.

He said civil works started earlier this year and were due for completion in the third quarter.

“There has been very strong interest in the remaining lots with offers and deals exceeding $600sq m,” he said.

“There are many local and national businesses that have benefited from the recent global changes (the coronavirus pandemic).”

He said these businesses included logistics providers and food and medical equipment manufacturers.

Mr Cavanagh said half of the 17-lot estate, which spans 25ha with 11ha of developable land, is subject to precommitments. The remaining lots for sale or lease range between 2157sq m and 15,150sq m.

City Link is the third major industrial estate for Tim Gordon after Southport Industrial Park and the former Colgate-Palmolive site in Arundel now known as the Gold Coast Logistics Hub.

Mr Gordon bought the City Link Carrara land (pictured), located off Eastlake St, Hickey Way and Petherbridge Ave, for more than $20 million in mid-2019. The 85ha site was split into a 25ha industrial estate with land for sale or lease and a residential component.

His other holdings include a site next to Dreamworld approved for three towers.