Business boom: $90m industrial estate opens
IT MIGHT not look like a lot right now, but Stage One of Caboolture's new $90 million industrial estate is open for business - and Stage Two and Three will be ready by March.
Corporate Park East will provide 40ha of usable land for small and large scale businesses once fully complete, with the scope to build lots well in excess of 1000sq m.
There will be five stages of land released for the project that is expected to be rolled out over the next few years.
It adjoins the existing Corporate Park Estate on the eastern side of the Bruce Hwy between Bribie Island Rd and the Caboolture Airfield.
The first 19 lots have been snapped up by local transport and distribution businesses, with the neighbouring industrial estate at 96 per cent capacity, according to Ray White Commercial lead agent Chris Massie.
"We expect builders and developers will quickly be looking to provide new buildings for that pent up demand," he said.
"We have been focused on helping businesses first and are excited that there will be local companies operating on site from day one."
Initial work began on the PGA Projects development back in 2006 when it became apparent the region has a lack of usable serviced industry land.
After the land was included in the State Government's urban footprint the developer submitted initial plans to Moreton Bay Regional Council in 2014 and was approved in 2015.
Ray White Commercial strategic analyst Ashley Rees said talks have recently taken place with national businesses looking to expand north of Brisbane.
"There has been a fundamental shift in the attitude of national businesses who now acknowledge that a presence in this Northern Corridor is a strategic necessity," he said.
Council's economic development spokesman Councillor Peter Flannery (Div2) said the expansion would help address one of the issues identified in the recent Grassroots Connections organisational review.
"I definitely see a role here for Council in a business attraction capacity," he said.
"The Grassroots Review identified that we should be taking on more staff in our Strategic Planning and Economic Development teams, which I'm hopeful will be done.
"There is a real opportunity here for us to attract some big, national companies to this impressive precinct."
The council has received four DA submissions for Material Change of Use on sites within Stage One.
Caboolture's population is expected to increase by 50 per cent by 2031 according to the State Government and Caboolture West is expected to home almost 70,000 people over a 40 year period.