Industrial market intelligence grows

Industrial market intelligence growsSouth East Queensland’s industrial markets have continued to develop unique vacancy profiles as a result of the Property Council of Australia’s third generation Industrial Vacancy Report.The report analyses data from the state’s largest property agencies to identify vacancy rates by number of properties and floor space for stock 3000 square metres and above. “The 2015 report provides the latest data for our established study areas, the Australia Trade Coast which was first analysed in 2013, and Logan Motorway Corridor which was introduced last year,” Queensland Executive Director of the Property Council of Australia, Chris Mountford says.”For the first time, this iteration of the report also includes data for ‘Brisbane North’, which captures the industrial sites from Wooloowin to Carseldine, including Nudgee and Boondall,” Mr Mountford says.”As the report builds data over time it is becoming an increasingly valuable barometer of the health of the industrial property sector in South East Queensland. “The Australia Trade Coast has seen a moderate increase in vacancy from 7.6 per cent of properties in 2014, to 9.6 per cent in 2015. Over this same period vacant floor space has increased from 6.3 to 10.8 per cent. “Part of this increase in vacancy can be attributed to the slowdown in the mining sector. However a portion of the increase in vacancy can be attributed to the addition of five new properties to the market, totalling 74,248 square metres of new stock over 3000 square metres.”Net absorption for the area was -88,868 square meters over the period. “The number of vacant buildings in the Logan Motorway Corridor – which extends from Carole Park to Crestmead and Berrinba – dropped slightly from 7.2 per cent in 2014 to 7 per cent in 2015. “Vacancy by floorspace during this period was shown to be a much tighter 2 per cent, indicating the majority of vacant stock is made up of properties at the smaller end of the scale.”This market is clearly performing strongly with positive net absorption of ,678 square meters over the past 12 months. “As the areas investigated by the report expand, we gain a more complete picture of the industrial market in South East Queensland. “This is the first year that we have examined the Brisbane North Precinct and the results reveal a baseline vacancy of 13.8 per cent across 152 properties over 3000 square metres. “The report confirms that the market in Brisbane North is dominated by smaller properties, with those under 3000 square metres accounting for nearly 85 per cent of the total stock. “As new industrial areas begin to compete for tenants it is becoming increasingly important for the sector to understand the profiles of individual markets. The data provided in this report is crucial to tracking shifts and trends in vacancy.” The full report, and the Property Council’s media release can be found at the PDF links below.