A recent assessment of a light industrial unit in Brisbane’s Northern Precinct has highlighted the growing popularity of these assets.

Not just useful for a tradie shed or a big toy locker, these compact units are increasingly being utilised for warehousing/distribution by smaller online retailers, flexible exercise space by specialist gyms and office space by marketing/recruitment agencies. These light industrial units (sub $1.5 million) are seen as cost effective premises for SME owner occupiers and “stable” investment opportunities for investors alike.

Below is a snapshot of recent industrial unit rental transactions completed in the Northern industrial precinct.

In-Depth Analysis of Banyo and Geebung in Brisbane’s Northern Precinct

Banyo

Commercial Landscape: Banyo is a strategically located suburb within Brisbane’s Northern Precinct, benefiting from its proximity to major transport routes such as the Gateway Motorway and the Brisbane Airport. This accessibility makes it a prime location for various commercial activities, particularly in the industrial and logistics sectors.

Notable Sales and Leasing Activity:

1. Industrial Estates:

   • Banyo Business Park: Recently, there has been significant leasing activity within the Banyo Business Park, attracting logistics companies and manufacturers. The demand for large warehouse spaces has surged, driven by the growth in e-commerce and the need for efficient distribution centers.
   • Commercial Property Sales: Several industrial properties have been sold to investment firms looking to capitalize on the area’s growth. Notable transactions include the sale of multi-tenant warehouse facilities, which are now leased to diverse businesses ranging from automotive suppliers to consumer goods distributors.

2. Retail Developments:

   • Local Shopping Centers: While Banyo is primarily known for its industrial zones, there has been a gradual increase in retail developments to cater to the growing workforce and local residents. Recent leases include anchor tenants such as supermarkets and specialty retail stores, enhancing the suburb’s commercial appeal.

3. Office Spaces:

   • Professional Services: With the expansion of businesses in the area, there has been a rise in demand for office spaces. Several commercial buildings have been leased to professional services firms, including IT companies, consultancy agencies, and healthcare providers.

Market Trends:

• Growth in Logistics and Distribution: The ongoing expansion of the logistics sector continues to drive demand for industrial spaces in Banyo. Companies are seeking proximity to transport hubs to streamline their supply chains.
• Sustainable Development: There is a noticeable trend towards sustainable and eco-friendly commercial developments, with new projects incorporating green building practices and energy-efficient designs.

Geebung

Commercial Landscape: Geebung is another key suburb within the Northern Precinct, recognized for its robust industrial sector and expanding commercial facilities. Its advantageous location near the Brisbane Airport and major highways enhances its attractiveness for businesses requiring efficient logistics and distribution capabilities.

Notable Sales and Leasing Activity:

1. Industrial and Warehouse Facilities:

   • Geebung Industrial Estate: This area has seen considerable leasing activity, with numerous warehouses being occupied by logistics companies, third-party distributors, and manufacturing firms. The demand for high-quality industrial spaces remains strong, fueled by the growth in regional trade and exports.
   • Recent Sales: Significant transactions include the sale of large-scale warehouse complexes to investment groups, who have subsequently leased these properties to a mix of national and international businesses.

2. Commercial Office Spaces:

   • Business Centers: Geebung has experienced an uptick in the leasing of office spaces within modern business centers. These spaces are being utilized by a variety of businesses, including tech startups, financial services, and consultancy firms, seeking a presence outside the crowded Brisbane CBD.
   • Co-working Spaces: The rise of flexible work arrangements has led to the establishment of co-working spaces in Geebung, attracting freelancers, remote workers, and small enterprises.

3. Retail and Mixed-Use Developments:

   • Shopping and Entertainment: While predominantly industrial, Geebung is gradually incorporating more retail and mixed-use developments. Recent leases include food outlets, specialty stores, and service-oriented businesses that cater to both the local population and the workforce.

Market Trends:

• Technological Integration: Businesses in Geebung are increasingly adopting advanced technologies such as automation and smart logistics solutions, driving the need for modern industrial infrastructure.
• Sustainability Initiatives: Similar to Banyo, there is a growing emphasis on sustainable commercial practices. New developments are focusing on reducing environmental impact through green building materials and energy-efficient systems.

Both Banyo and Geebung are pivotal to Brisbane’s Northern Precinct’s commercial landscape, each offering unique advantages for different sectors. The ongoing demand in industrial and logistics spaces, coupled with emerging trends in sustainability and technological integration, positions these suburbs for continued growth and investment opportunities.

Looking to unlock the full potential of your commercial property? Whether you're considering selling, leasing, or just want to know its true market value, McGees Property is here to help. Our expert team offers comprehensive and accurate commercial property valuations tailored to your specific needs.

We know Valuations. We know Queensland.

At McGees Property, we specialize in accurate and comprehensive market value assessments tailored for acquisitions, disposals, financial reporting, SMSF audits, and informed decision-making. Trust our expertise to guide you with precision and confidence.

Should you need any valuation services, please don’t hesitate to contact:

• Scott Campbell: 0403 165 355
• Owen Thorn: 0405 415 645

Let’s unlock the true value of your property together.

This Article is for general information only and should not be relied on as advice. You should consider your personal situation and seek advice that is specific to your circumstances before making any decisions based on this information. Liability limited by a scheme approved under Professional Standards Legislation

Disclaimer: The information provided in this blog is for general informational purposes only and does not constitute legal, financial, or professional advice. While we strive for accuracy, we make no guarantees regarding the completeness or timeliness of the content. Always seek independent advice before making any financial or real estate decisions. We are not liable for any loss or damages arising from your reliance on the information provided.

Liability Limited by a Scheme approved under Professional Standards Legislation