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REIQ Journal : October 2008
Commercial & Industrial 47 Where would Bowen Hills be without the Inner City Bypass, for example? And would there be a Yatala Enterprise Area if the Pacific Motorway had never been built? The same goes for the Australia TradeCoast precinct, which – in addition to its natural advantages – would only offer a fraction of its promise if there was no access via the Gateway or Port Motorways. Likewise, connecting the three motorways – Logan, Gateway, and Port – has resulted in muchneeded, serviced, industrial land coming on-line in Heathwood, Loganlea and Meadowbrook, as well as getting truck traffic out of residential neighbourhoods. As a rule of thumb, industrial property with close access to major arterials, especially where good exposure is involved, will command price or rate premiums of at least 20 per cent. An ideal example is property in Bowen Hills, which enjoyed prices leaping by that amount just months after the Inner City Bypass was completed in 2002. Those familiar with sites along the Brisbane-Gold Coast corridor have seen ...industrial property with close access to major arterials, especially where good exposure is involved, will command price or rate premiums of at least 20 per cent. similar jumps since the upgrade of the Pacific Motorway. Indeed, industrial estates in the Larapinta precinct near Acacia Ridge will also soon find their values enhanced once the overpass across the Logan Motorway is finished and the upgrade to Paradise Road is completed to B double standards. In the meantime, north-side suburbs like Hendra command healthier than average prices due to their proximity to the East West Arterial and Gateway Motorway. In Brendale, rates are reflecting the completion of the $7 million bypass that has freed up truck routes to and from Brisbane. A number of major transportrelated projects are currently under construction, or are in their late planning stages, which should have a positive impact on the availability or viability of industrial land for years to come. These include the TransApex tunnels and bridge, which will see the AirPort link facilitate access to land left underdeveloped by the Brisbane Airport Corporation; and the upgrade of Kingsford-Smith Drive and the Gateway Motorway, which will improve access into Eagle Farm and Pinkenba. But what of the future? While governments at all levels have announced projects worth billions of dollars, a few of the proverbial and not adequately addressed “elephants in the room” need to be resolved before many of these plans can reach their full potential. The first elephant is the 84-hectare Acacia Ridge marshalling yard. With its inefficient Queensland gauge rail track to the NSW border, residential Wanted Looking to Sell your Sales Agency or Rent Roll? If you are interested in buying or selling your business – please contact Paul Brooks, Agency Broker, 0419 731 390 or firstname.lastname@example.org www.realestatedynamics.com.au REIQ Journal October 2008