The Southport Trade Centre has experienced a 39 per cent growth in sale rates per square metre over the last 8 months with an average turnover period of just over 90 days.
Colliers International has sold four units within the Centre totalling $1.48 million across 926sqm; there are currently no available units left for sale. This large, secure, semi-modern industrial complex comprising just under 40 units, is located off Ferry Road near the Southport CBD.
“The latest strata unit has just gone under contract at $1,857 per square metre to a local business owner,” said Marlon Crawford of Colliers International who negotiated the sales in the Centre.
“This is nearly $60/sqm above the average industrial sale rates that are currently being achieved for second grade units in more popular Molendinar and Ashmore industrial precincts.
“The rapid growth in value is a result of increased buyer demand and lack of available stock in the market.
“The centre offerings and great location are main drivers behind the popularity and relatively quick turnover of the units.
“There are currently only three units available for lease within the Centre ranging in size from 186sqm to 253sqm,” said Mr Crawford.