WHY IPSWICH?

by admin-king | 15th August 2014

The industrial and commercial real estate in Brisbane’s South West Corridor (SWC) and City of Ipswich offer business a plethora of benefits and future opportunities.

From the outset it must be said that the future prospects of Brisbane, Logan and Ipswich are interwoven. Each of these centres is connected by infrastructure, transport and logistics along with employment and residential requirements.

This area stretches from Wacol west along the Ipswich Motorway to the Centenary Motorway, Logan Motorway, and Cunningham and Warrego highways. These areas are exceptionally well serviced by this network of motorways and highways along with planned road, tunnels and rail upgrades, some of which are nearing completion. The 4.6 km Legacy Way toll road that will be completed in early 2015 will connect the Western Freeway at Milton to the Inner City Bypass at Kelvin Grove. This crucial connection will complete a direct, high-speed route between the South West Corridor and the Port, Airport, north and south Gateway arterials, and the TradeCoast precinct.

As confirmed by the Office of Economic and Statistical Research, Ipswich is currently the fastest growing city in Queensland, which will provide an excellent population base for expanding employment requirements.

The population of Ipswich is projected to grow from its current 180 000 to 462 000 by 2031, which is an increase of 5% annually over the next ten to twenty years and compares with a growth rate of 1.8% for the rest of the state. It is expected that 120 000 new jobs in Ipswich will be generated in that period. To support this population growth, government has approved more than 2300 residential house lots with more than 8300 ha of greenfield residential land available to develop.

In the Ripley Valley, Amex Corporation has begun construction on a brand new town called ‘Providence’, which covers 670 ha and will accommodate around 20 000 people in the next five years with education, health, sporting, recreation and community facilities and supporting infrastructure. Recently, Sydney-based Chinese investors bought two large parcels of land within the Ripley Valley Master Plan precinct for almost $9 million to land bank for future residential development.

With enthusiastic support from Ipswich City Council and large parcels of affordable, vacant and flat land available, there are now approximately fourteen industrial estates in the area, with a number of new developments being planned. These very capable developers are able to deliver an excellent product at an affordable price to suit a wide variety of requirements.

 

Ipswich Fact SheetCurrent population         180 000Expected population      462 000 by 2031

Expected job growth     120 000 new jobs by 2031

Major residential developments under way:

  • Ripley Valley Residential Development
  • Springfield Lakes and Springfield Town Centre
  • Sovereign Pocket Residential Development
  • Augustine Heights Residential Development

 
Click to view detailed mapClick to view detailed map

In the SWC there are substantial industrial and commercial developments either under way or planned. Some of these include:

     Citiswich

Citiswich is a 350 ha, $1 billion industrial business estate by Walker Industrial that is located 25 km from the Brisbane CBD on the interchange of three major highways—the Warrego Highway, the Cunningham Highway and the Ipswich Motorway.

Major companies that have moved into the development include One Steel, Australian Pharmaceutical Industries, The Reject Shop and Masters Home Improvement, whose recently completed 10 000 m2 store is now open for business.
Hoepners Transport has recently completed construction of its 7471 m2 speculative warehouse at 12 Hoepner Road, which, coincidentally, was named after the company’s founding family. Also on Hoepner Road, a development application approval has been given for an 11 500 m2 facility.

There are still medium-to-large sites available and a number of deals currently undergoing due diligence.

     Redbank Motorway Estate

Goodman Australia has commenced road and access upgrades to its $350 million Redbank Motorway Estate with construction on a number of facilities now under way. The development has easy access to the Ipswich and Logan motorways and is offering various land-sale options, prelease facilities up to 80 000 m2 and turnkey developments. Although flanked by the Brisbane River, the site was not affected by the 2011 Brisbane floods, and all building pads on the site will be above recommended flood levels.

Global third-party logistics company DB Schenker will be the first major tenant in the development with its 31 400 m2 distribution centre facility nearing completion. The company expects the facility to be operational in July 2014.  

Transport and logistics provider Northline has signed a precommitment to a 12 500 m2 distribution centre on an eight-year lease and will pay just over $100/m2

Another two speculative facilities of 10 800 m2 and 14 800 m2 are under construction and are expected to be completed by September 2014.

     Swanbank Enterprise Park

Experienced developer Investa Property Group has produced a development that has the capacity to accommodate big, heavy users, taking advantage of large buffers from surrounding urban areas and existing, traffic light–free 24/7 B-double truck access directly to two major highways (Cunningham and Centenary). 

The master-planned infrastructure is well under way, and the site offers users high capacity broadband and major trunk potable and purified water. Landfill operations within Swanbank are licensed to undertake disposal of general, commercial, putrescible and regulated waste giving tenants easy access to waste-management and recycling facilities.

The large/heavy users that have taken up sites include Thiess, Veolia and Humes along with CS Energy power stations, which allow users to obtain an economical power supply.

Holcim has recently completed the construction of its $75 million precast pipe manufacturing plant and Boral has now moved into its new asphalt batching plant. HY-TEC recently obtained development approval for a concrete batching plant on a 1.2 ha site in the estate.

     Brookwater Office Park

Brookwater Office Park is a modern, gated office park offering excellent opportunities. Energy company New Hope Group has established its national headquarters in the estate.

     Ebenezer Regional Industrial Area

The Department of Infrastructure and Planning is working with the Ipswich City Council on progressing land use and infrastructure planning for the Ebenezer Regional Industrial Area. The area, located south-west of Ipswich, is a 5000 ha site aiming to accommodate manufacturing, logistics and large footprint industries.

Currently, the Ipswich City Council’s Strategic Planning Branch is calling for comment on the Draft Planning Study for the area.

     Synergy Industrial Park (Carole Park)

Sitting within the Carole Park Industrial Estate, the Synergy Industrial Park is made up of 4500 m2 to 3.3 ha blocks that are being developed into high-quality modern industrial facilities.

     Drive Industrial Estate

DEXUS has begun construction on its 13.4 ha development at Richlands called ‘Drive Industrial Estate’. The development will consist of five subdivisible buildings accommodating 3000 m2 to 35 000 m2 users. There is development approval for approximately 76 000 m2 of industrial development and flexible design for purpose-built facilities.

Stage 1 includes construction of the 13 562 m2 Building 1, which is almost complete, and construction of the 35 070 m2 Building 5, which is under way and due for completion in August 2014. 

     Wulkuraka Industrial Estate

Situated just minutes from Ipswich’s CBD and with excellent access to motorways, government-owned land at Wulkuraka Industrial Estate is available for sale. There is a 64 750 m2 developed site available for sale for $1.067 million with another two smaller parcels of land available for development.

     Vicinity Business Park

The 42 ha Vicinity in Augustine Heights is the latest development within Greater Springfield. The development is a mixed-use business park and will include a major automotive showroom zone and areas offering facilities to small- and medium-sized users.

Australia’s largest master-planned city of Greater Springfield cannot be overlooked as a key economic player in the western corridor. The 2860 ha area that was established in 1991 now has a population of approximately 26 000, which is expected to increase to 105 000 by 2031. Around $9.7 billion has been invested to date on residential development, office, retail, educational, health and technology facilities and infrastructure. 

In December 2013, the state government funded two new train stations within Springfield to deliver much-needed commuter services to the Brisbane CBD. Earthworks on the site of the new 80-bed, $85 million Mater Private Hospital at Springfield has commenced for Stage 1.  Construction is scheduled to commence in February next year and completion is earmarked for the end of 2015.

At a state-government level, the Queensland Department of State Development, Infrastructure and Planning (DSDIP) has undertaken the task of profiling industrial estates and business parks located in Ipswich, the Lockyer Valley, Somerset and the Scenic Rim with the aim to facilitate investment enquiries from businesses seeking to relocate or expand their operations. 

In July 2013, the state government launched the State Assessment and Referral Agency (SARA) to reform planning and development assessment systems. The aim of SARA is to streamline the applications process and, with DSDIP, SARA has replaced seven separate referral agencies with just one. The effectiveness of SARA in centralising state applications earned it Planning Institute Australia’s top award for 2013, ‘Improving Planning Processes and Practices’.

The state government’s obvious commitment to development and investment in allocation of resources and streamlining of the applications process is surely a big drawcard for interstate and foreign investors looking for new opportunities.

The Port of Brisbane is also encouraging support for Queensland’s economic prosperity and to strengthen its position as Asia’s key trading hub. The port is now the first port in Australia that can boast full stevedore automation with its three stevedores, Patrick, DP World and Hutchison Port Holdings. This development will have a huge impact on operational efficiency and safety in port operations.

The Brisbane Airport Corporation has kicked off its $45 million redevelopment of the international terminal, which is expected to be completed in mid-2015.

Brisbane West Wellcamp Airport is currently under construction and is Australia’s first privately built and Australian-owned major public airport. Passenger airlines will be using the new airport as soon as construction is finished in October 2014. The 2.87 km runway will be capable of accommodating large jets, such as Boeing 747s and Airbus A380s, and could also operate as a landing strip for diverted international flights, avoiding the need for Brisbane or Gold Coast–bound flights to be diverted to Sydney. Along with the airport, there is a large business park under construction that will offer facilities for warehousing, manufacturing, corporate offices and aviation support industries.

Ipswich and the South West Corridor have proven to offer a wide range of industrial and economic opportunities for investors. The completion of motorway upgrades and tunnels in the region has effectively created a ring-road connecting key logistical services, such as the Port of Brisbane and Brisbane Airport, to the industrial and population hubs of Brisbane CBD, Logan, Springfield and, of course, Ipswich.

With dedicated local and state government agencies and privately funded projects encouraging economic success in the region, the area will continue to create employment and attract future development opportunities. If you are looking for an excellent opportunity in industrial real estate, Ipswich and the Western Corridor are areas not to be missed with a wealth of possibilities and opportunities on offer.

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