Chempro Chemists, one of the fastest growing pharmacy groups in Australia, has committed to 5,200sqm in the brand new Enterprise Industrial Park facility in Molendinar on the Gold Coast.
Commencing this month, the 12 year lease with two 5 year options is one the most significant leases on the Gold Coast in the last five years, given the size of the area and the length of the term.
Enterprise Industrial Park which occupies a land area of 33,600sqm is currently the largest industrial speculative development within the central Gold Coast. Construction of stage one comprising 8,368sqm was completed in June last year and is now fully leased with Viadux recently taking up 3,168sqm and Chempro taking the remaining 5,200sqm.
Pat Cavanagh and Daniel Coburn of Colliers International who are exclusively marketing the property negotiated the leases. Mr Cavanagh said Chempro Chemists have been in the market for a few years looking at various options to lease or buy.
“Now was the right time for them to move as they are opening up more stores to add to their portfolio of 66 pharmacies located across Brisbane, Gold Coast and northern New South Wales.
“They have outgrown their 2,000sqm facility at Arundel and were looking to relocate to a 4,000sqm plus facility within the same area for the convenience of their employees as well as their distribution network.
“Enterprise Industrial Park offered the high level business and warehousing solution to their needs, being the only brand new A Grade industrial facility currently available on the central Gold Coast.
“The location of the building offers them the opportunity to have a pharmacy licence, subject to Medicare’s approval, which allows them to sell the product online as well as have an onsite store,” said Mr Cavanagh.
According to Mr Coburn the property features sophisticated logistics efficiencies including 10 metre internal clearance, clear span warehouse with natural lighting, full sprinkler system throughout, drive in/drive out access for semi and B-Doubles, container set down areas, loading and unloading areas, brand new air conditioned offices, and a fully secured site with gated access with high exposure to Olsen Avenue.
Paul Jaffar, External Relations Manager at Chempro Group said they are excited by the opportunity to be able to expand their warehouse and back office infrastructure. “This location provides us with the ample space needed for our future growth, and it is a central site for our logistics and supply chain around the city.
"We have over 50 pharmacies at convenient locations across the Gold Coast, with more in the pipeline. We believe in supporting the Gold Coast, like it has supported us over the past 19 years.
“Our philosophy is to go the extra mile for our customers,” says Mr Jaffar. “Our pharmacists are on-site seven days, at night and on public holidays to answer questions and offer professional advice to our customers to improve their health and wellbeing.”
The developers of Enterprise Industrial Park are a local family who purchased the site back in 2013 for $6.05 million from Southport Timbers. They were keen to embark on a speculative development as they felt the market was moving in the right direction.
Mr Cavanagh said Nick Ray of One Sector Constructions who managed the design and construction of Enterprise Industrial Park won an award at the 2015 Queensland Master Builders Awards in the construction category for the best industrial building over $5 million on the Gold Coast.
“Stage two construction is well underway with the completion expected mid-2016. It will consist of three buildings of approximately 3,000sqm each and includes similar features and efficiencies as stage one. We are fielding enquiries for stage two already, with one tenant currently considering the whole 9,000sqm,” said Mr Cavanagh.
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