Queensland’s newest industrial project, the LogistX Business Park, is set to provide much needed vacant industrial in the Yatala Enterprise Area, a vital logistics hub in the ever‐busier arterial corridor between Brisbane and the Gold Coast.

With an end value of over $500 million the staged development is beside the land acquired by the state for the Coomera Connector corridor with potentially two new freeway exits within 800m of the estate.

The business park, which is mooted to eventually create over 3,000 jobs is to be undertaken on a 87Ha parcel of land adjoining the intersection of Burnside Rd and Quinns Hill Road East in Stapylton, less than 1km from the recently announced new $500m Visy Glass facility.

Gold Coast Mayor Tom Tate said the city’s reputation as a destination of choice for business and industry was strengthening.

“Quality industrial land is at a premium so to see this product come on‐line gives us further confidence in attracting new, and expanded, enterprise,’’ he said.

“Access to rail and major arterial highways is a huge advantage and has seen this area of the city become a beacon for development over the past five years. I wish the proponents success into the future’’

Local Councillor, Cr Mark Hammel commented “this estate will ensure that the Yatala Enterprise Area remains a preferred location for industrial and logistics businesses and that there is land available for these businesses to grow and prosper”.

The estate celebrated commencement of civil earthworks this week with Queensland based Shadforth Civil appointed.

Ben McCarthy, Principal of EkkoPoint Properties, the project developer, said “We are delighted to be working again with Shadforth on the landmark project that we’re confident will become one of the preferred business addresses in the Yatala Enterprise Area, especially once the Coomera Connector is complete. While the site is already approved for B‐Double truck access, the connector will ensure there are multiple freeway access points nearby”.

LogistX will offer large contiguous land parcels enabling flexible development solutions from 4,000m2 up to 5Ha sites and is expected to be completed in early 2023.

Agents appointed to the project are Nick Evans and David Brisk of Colliers and Myles Clentsmith and David Corke of CBRE.

Colliers research suggests in the 12 months to March 2022, 1‐5 hectare industrial land values increased by 53.2% at a national level, well above the 10‐year average of 12.4% per annum.

Collier’s Industrial Director, Nick Evans advised that, “the availability of fully serviced industrial land in the Brisbane ‐ Gold Coast corridor is at an all-time low and there is very little future supply in the pipeline with the strongest demand for industrial product witnessed in a generation.”

Mr Corke from CBRE advised, “there is a massive undersupply of ready‐to‐build vacant industrial land on the Gold Coast and this release is eagerly awaited by long term tenants, owner‐occupiers and developers as experienced operators know this is a great location with huge future potential”.

CBRE research reports overall average absorption of land across Brisbane precincts was 95ha per year, whereas the average supply of serviced land has been just 67ha. This trend is expected to continue in 2022 given recent pre‐commitment activity and current occupier briefs in the market for new space.

Land values in Brisbane have risen 52.6% in the year to March 2022 with 2,000sqm to 10,000sqm lots achieving $475‐540/sqm and 1‐5 hectare lots in Brisbane’s South ranging between $375‐$450/sqm (up from just $275‐$350/sqm) a year ago. Looking ahead, continued pressure on land values is anticipated given the lack of land availability, particularly serviced land.