Three agents in Knight Frank’s Queensland industrial team have been promoted to strengthen the agency’s offering in the sector in what is expected to be an active 2023.

David Knox, Sam Harper, and Ben Hatch have all been promoted from Associate Director to Director, Queensland Industrial Logistics.

After joining Knight Frank seven and a half years ago, David has built a formidable reputation in Brisbane’s south. He is recognised as one of the best local operators and is widely liked and respected by key institutional and private clients.

Sam, who has been with Knight Frank for 6.5 years, services the Northern Gold Coast and Logan Motorway Corridor. He was recently recognised with an Excellence in Agency award at the Knight Frank 2022 Excellence Awards.

Ben has been with Knight Frank for 13 years, and as one of Knight Frank’s most trusted and best performing industrial agents, he will continue to grow the agency’s TradeCoast business.

Knight Frank Head of Industrial Logistics Queensland Mark Clifford said the three operators had a combined 27 years’ experience under the Knight Frank banner, and close to a combined 50 years in the industry.

“They have been consistent performers in their respective geographic regions and thoroughly deserve their promotion to Director,” he said. 

“They have set the example for the younger members of the Knight Frank industrial team.

“Their commitment to finding tailored property solutions for investors and occupiers has seen them become market leaders in in the industry.”

Mr Clifford said Industrial Logistics continued to be a rapidly growing asset class and 2023 was expected to be active in both sales and leasing.

“We currently have over $100 million in off-market transactions in progress,” he said.

“Investor transaction volumes are expected to return after a slow finish to the calendar year in 2022, with the industrial category still the darling of the investor market.

“2022 saw available stock levels fall a further 38 per cent to 10-year lows across the industrial market as occupier demand continued to surge. This has prompted a long-awaited return to rental growth in the market with prime rents climbing by 24 per cent in the past year.

“There are no signs of a slowdown in demand for warehouse space, both across prime and secondary options. “

Mr Clifford said development groups that began their speculative construction in 2022 are in a strong position with the low stock levels leading to lease deals being secured prior to completion.

For example, 28,000sq m of speculative space at the Barracks at Metroplex in Wacol, being developed by Aliro, is now fully leased prior to completion. 

“Rents will continue to increase across the board with potentially a further five to 10 per cent increase in rents over the next 12 months.”