Eastern Corridor, including Bulimba, Morningside, Murarrie, Hemmant, Tingalpa, Lytton, Wynnum and Mansfield

by admin-king | 21st October 2014

In order to address the issues of increased industrial activity and export-focused activities, Brisbane City Council has prepared a draft neighbourhood-plan strategy for the Hemmant–Lytton area, parts of Murarrie, Tingalpa and Wynnum West, and some areas managed by thePortofBrisbane. This draft plan will seek to achieve better services and infrastructure to support local businesses, workers and residents, and ultimately to strengthen the economic productivity of the area.

Bulimba and Morningside have experienced little change in recent months with smaller office/warehouses being snapped up quickly, such as the lease of 4/95 Riverside Place, Morningside for $135/m2.

With their close proximity to the Portof Brisbaneand the Gateway Motorway, Murarrie and Hemmant have continued to show good activity in leasing as well as in sales. Recently completed industrial units in Murarrie have been leased quickly, such as 22/197 Murarrie Road, Murarrie, which leased for $145/m2 and 10/197 Murarrie Road, Murarrie, which leased for $152/m2.

Tingalpa has seen the resounding success of the new Tingalpa Central development. Most units in Stage 1 of the project have been sold and/or leased and construction of Stage 2 is well under way. The 92 m2 office/warehouse at11/1631 Wynnum Road, Tingalpa sold for $298,000 plus GST and is now being offered for lease.

While Lytton, Wynnum and Mansfield have seen few leasing deals, they have seen some sales of larger warehouses, such as the sale of a 7,148 m2 property at1819 Lytton Road, Lytton for $4.2 million.

Rob Finlay (0411 747 165)

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