Speculative purchase lights up Metroplex

05 July 2018

A national lighting company has acquired a brand new speculative building in the Metroplex at Westgate Estate for $3.3 million to accommodate for increased client demand.

36 Whitelaw Place in Richlands was put on the market by Compli Group, with new owners SAL Nationwide snapping up the facility in a transaction brokered by Shaw Harrison of Savills Industrial.

Being an Australian owned and operated business, Mr Harrison said SAL Nationwide came to market with the view of purchasing anywhere between the eastern Trade Coast region, to the western corridor.

“The buyer had a requirement for extra space as they needed to expand their wholesale warehouse lighting line.

“They also needed to be centrally located within close proximity to the distribution network of their customers and major arterial roads,” Mr Harrison said.

The lighting industry is evolving rapidly with the technology of LED lighting and better efficiencies now an expectation of many market consumers.

SAL Nationwide commtted to the Richlands facility prior to practical completion, and as such were able to have the finished paint colour selection customised to align with their corporate branding.

The building transacted at a rate of $1,833/sq m, including features such as alpolic cladding to the front façade, side mounted glass balustrading on the staircase, louvered windows for ventilation, plus electric security fencing.

Mr Harrison said the construction included a very high level of finish, with specifications typically seen in high end residential.

“The building was meticulous to detail and had several touches not normally seen in industrial buildings.

“It was handed over with everything done; key under the matt, just move in, which is what owner occupiers are looking for,” Mr Harrison said.

The transaction is one of several recently brokered by Savills for businesses catering to the construction material markets.

“Both residential and commercial construction markets have witnessed an increase with industries supplying material products to these markets, with many expanding rapidly and securing their market share of the action,” Mr Harrison said.

According to the Australian Bureau of Statistics, total construction work completed has increased annually by 6.1% by comparison to quarter one last year.

“Residential has actually softened a little over the same period, but considerable increases with non-residential and engineering have lifted the total averages.

“With building approvals for houses increasing again, we expect the residential construction sector to be on the rise shortly,” Mr Harrison said.

Other recent occupiers within the Westgate Estate who have completed custom built headquarters include AB Volvo, Loscam, Ardex and Vadals Butcher Supplies.

The property had been jointly marketed by Savills Callum Stenson and Mark Gilbride of CBRE.

 
 

Key Contacts

Shaw Harrison

Shaw Harrison

Director
Industrial & Business Services

Savills Brisbane

+61 (0) 7 3002 8929

 

Callum Stenson

Callum Stenson

State Director - QLD
Industrial & Business Services

Savills Brisbane

+61 (0) 7 3002 8832