Colgate-Palmolive is selling its large industrial property in Arundel on the Gold Coast after acquiring it for its oral care and laundry detergents businesses in 1988. This is the first opportunity the market has had to purchase this significant asset.
The site has approximately 484 metres of street frontage to Captain Cook Drive, along with frontage to Kendor Street which (subject to Council approval) could provide a second access point. There are two manufacturing facilities onsite: the 6,823sqm oral care products building, which has been decommissioned, and the 5,823sqm laundry detergent products building, which currently remains in operation.
The total land area is 22.16 hectares. Approval to subdivide the site into two lots has been granted by the Gold Coast City Council. Subject to Council approval, there is potential for the site to be subdivided into smaller industrial lots to meet the increased buyer demand on the Gold Coast. Those smaller lots on the site could provide the bulk of industrial land supply to the Gold Coast region (outside Yatala) over the next few years.
The property is being offered for sale exclusively by Kyle Youngson of Colliers International via an Expression of Interest campaign commencing in April and closing 6th May 2016.
Mr Youngson said the site is zoned ‘medium impact industry’ under the Gold Coast ‘City Plan’ with a potential to further develop the land (subject to Council approval), to meet demand for industrial land lots in the region.
Having recently sold out the 29 lots in the Arundel Industrial Park on behalf of the Queensland State Government, Mr Youngson sees this project as the next big offering for industrial purchasers.
“We expect a lot of interest in this property from both large manufacturers and industrial developers looking to take advantage of the size and location of the site. Industrial land demand on the Gold Coast continues to outstrip supply with industrial land prices increasing over the last 12 months.
“The demand for industrial land on the Gold Coast does not look like slowing in the short to medium term, with prices for vacant industrial land shifting from $300/sqm to $400/sqm plus in recent months, said Mr Youngson.
Mr Youngson said: “The property offers easy access to Gold Coast Highway, is close to Pacific Highway and major amenities such as Harbourtown and Westfield Helensvale.”