A modern office warehouse situated along the Compton Road growth corridor in Underwood is for sale or lease, with recent reports showing an increase in demand for warehouses due to COVID-19 which has seen a rise in online shopping.
With a guide price of circa $640,000 or annual rent of circa $57,810, 2/67 Compton Road, Underwood comprises a 282sq m* vacant building on a partial 4,337sq m* site offering a corporate quality office, concrete tilt panel construction, ample convenient parking onsite, container height electric roller door and high bay clear span warehouse with great natural light.
There is easy connectivity and access to major arterials roads including the M1 Pacific Motorway and M2 Gateway Motorway, the property is well serviced by multiple forms of public transport.
Exclusive agent Hamish Harries of Savills Australia said the property would suit small to medium business’s looking to expand their operations, or owner occupiers and tenants looking to capitalise on the abundance of local amenity and community infrastructure as well as exposure to over 27,300* vehicles daily (source: Zenith Traffic).
According to Hamish Harries, Executive, Metropolitan & Regional Sales at Savills Australia, the COVID-19 e-commerce Boom has enabled transport and logistics companies to immediately expand operations to keep up with demand.
“We have seen an increase in demand for online shopping and as a result, the spike in requirements for Distribution Centres, Transport and Logistics facilities as well as domestic third-party logistics providers’.
The 2020 Australia Post eCommerce Industry report highlights that on 11 March 2020, the World Health Organisation declared COVID-19 a pandemic. The following week saw online purchases up 28% YOY. This trend continued to brow , before hitting a peak of 135% YOY in the week after Easter.
To put this into perspective, an average of 1.6 million households purchased something online each week in 2019; in April 2020 this increased to 2.5 million households per week, the report said.
Hamish Harries, believes the increase in demand for online ordering is expected to have continued growth post COVID-19 as people start to adapt to the post Covid landscape.
“More and more developers are looking for industrial sites and investor are looking to capitalise on this market trend, which is here to stay,” he said.
Mr Harries said over the years, the Industrial sector has always been considered the cheapest entry point for commercial property. “We can see the increasing demand potentially level the playing field moving forward with higher rents and longer lease terms within the industrial sector.”