briefing brisbane industrial june 2019 · 2019-08-02 · briefing brisbane industrial june 2019...

BriefingBrisbane Industrial June 2019

Savills Research Queensland

Highlights Turnover of Brisbane industrial assets exceeded $1

billion in the year ending June 2019, up 30% on the previous period;

Brisbane prime industrial yields tightened 60 basis points on average over the year due to sustained investor demand, particularly from offshore investors;

On the back of a buoyant pre-commitment market, industrial supply in Brisbane is expected to reach 304,000 square metres in 2019 - a 78% increase on the year prior;

Land value growth is steady in all precincts with high demand for serviced sites and continued speculative development expected.

Prime Averages (Trade Coast) Latest 12mo Diff Outlook

Rental – N.F. ($/sq m) 133 n/c Incentives (%) 11.50 +15.1% Yield – Market (%) 5.75 -63bps IRR (%) 6.88 -138bps Capital Values ($/sq m) 2,050 +6.5% Land Values ($/sq m) 525 +10.5%

Source: Savills Research

June 2019

savills.com.au/research 2

Savills Research | Briefing Notes – Brisbane Industrial

Report ContentsExecutive Summary 2Leasing Activity & Demand 3Rents and Developments 5Sales Activity 6Infrastructure & Outlook 8Precinct Map 9Key Indicators 10

Key Contacts 12

Executive Summary

Improving economic conditions in Queensland stimulated by a rebound in the mining sector, coupled with road infrastructure investment is likely to see continued positive effects on the industrial sector in Brisbane. There has been a 49% increase in industrial leases year on year, with a record of approximately 863,000 square metres of industrial space absorbed in Brisbane. However, rental growth is not yet universal through the market as new prime industrial facilities, which charge a higher premium, are diminishing.

The Brisbane industrial market has seen a significant boost in sales volumes with $1.13 billion of assets transacting over the 12-month period to June 2019, representing the second highest volume of sales on record over the past 10 years. Offshore investors were the most dominant purchaser type, accounting for 27% of total industrial assets transacted in this period. The core market yields (Trade Coast 5.8%; Southside 5.9%) demonstrate the premium that offshore buyers are prepared to pay to enter the Brisbane market. Average yields have compressed 60 basis points for the year to June 2019.

Supply is expected to accelerate in 2019 to 304,000 square metres including new developments and stock under construction which is due for completion in 2019. Land values across all precincts have generally trended upwards. The average land value for the year on year to June 2019 increased by 15%, to $356 per square metre. The reclassification of industrial areas to alternative uses as outlined in the ‘Brisbane City Council Industrial Strategy 2019’ will continue to place upward pressure on land values.

Brisbane Markets Summary - Prime Warehouse

Precincts N.F. Rent ($/sq m) Market Yield (%) IRR (%) Cap. Value ($/sq m) Land Value ($/sq m)

BRI – Southside* 118 (n/c) 5.88 (-50 bps) 7.00 (-150 bps) 1,750 (+1.4%) 313 (+5.0%)

BRI – Northside* 125 (+4.2%) 6.13 (-63 bps) 7.00 (-100 bps) 1,975 (+12.9%) 363 (+7.4%)

BRI - Trade Coast* 133 (n/c) 5.75 (-63 bps) 6.88 (-138 bps) 2,050 (+6.5%) 525 (+10.5%)

BRI - M1 / Logan Cor.* 113 (n/c) 5.88 (-63 bps) 7.00 (-163 bps) 1,750 (+2.9%) 313 (+19.0%)

BRI – West* 110 (+4.8%) 6.13 (-50 bps) 7.25 (-138 bps) 1,650 (+8.2%) 268 (+32.1%)

Source: Savills Research. NB: 12 month change shown in brackets, n/c = no change

*Savills metrics includes marketable commercial industrial buildings within defined precinct boundaries, generally inclusive of an improved building area of between 1,000 and 20,000 square metres. Land values reflect ‘serviced & benched’ sites (3,000 - 5,000 sq m).

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June 2019



-

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000 BRI-West BRI-Southside

BRI-Northside BRI-Trade Coast

BRI-Non-Metro

Wholesale - 252,670sqm - 29.3%

Transport & Logistics -197,227sqm - 22.9%

Manuf/Engineering - 54,976sqm- 6.4%

Property & Business Services -32,603sqm - 3.8%

Construction, Mining & Agri -26,670sqm - 3.1%

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000 Direct - New Direct - Existing Prelease Precommit Renewal

In the 12 months to June 2019, Savills Research identified approximately 862,688 square metres of industrial leases (>1,000 square metres) in Brisbane. This was a 49% increase on the 12 months prior (577,394 square metres) and a 29% increase on the 10-year average (668,937 square metres).

The Wholesale category was the most dominant, accounting for 29% (or 252,670 square metres) of total leasing activity. Transport & Logistics followed closely behind with 23% (or 197,227 square metres) of total leasing activity. The majority of leases were transacted in Brisbane’s ‘Southside’ precinct where 283,855 square metres (33%) of total leasing activity was done. The ‘Southside’ precinct was also notable for the total number of leases, as smaller occupiers took advantage of more affordable leasing conditions. The historically strong ‘Trade Coast’ precinct made up only 27% of total leasing volumes due to a lack of available properties.

Pre-commitments dominated the industrial stock leased in the 12 months to June 2019, accounting for approximately 33% of total leasing activity. Direct leases to new, and existing buildings followed, comprising 31% and 29% respectively.

There was a solid commitment to speculative space and pre-commitments to new stock, with 230,070 square metres recorded in this sector. The most significant pre-commitment in the current 12-month period was Coles 66,000 square metre lease in Goodman’s Redbank Motorway Estate, followed by 48,824 square metres by Australia Post in the same estate. Source: Savills Research

-

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000



BRI-Non-Metro






100,000

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800,000


Leasing Activity by Lease Type


Leasing Activity by Precinct

Leasing Activity by Industry Type


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300,000

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800,000



BRI-Non-Metro






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Leasing Activity & Demand

June 2019



There has been a reduction in the state’s logistics job advertisements over the 12 months to April 2019, after double digit growth annually over the past three years.

Even though logistics job advertisements is regarded as a lead indicator, it is important to take into consideration the increasing popularity of automated facilities among logistics service providers, food manufacturers, and distribution centres in Queensland. This new generation of automation, which increases cost effectiveness and ensures timely and accurate delivery, is now a key consideration for many industrial operators.

Recent Notable Leases (by Area Leased)Property Tenant Deal Date | Area Leased (sq m) Type | Rent | Term

4 Weedman St, Redbank Coles Jan-19 | 66,000 p | n.a. | 20

1-2 Robert Smith St, Redbank Australia Post Jul-18 | 48,824 p | 136 | 15

338 Bradman St, Acacia Ridge Woolworths Mar-19 | 44,600 r | 96 | 7.4

238-260 Gilmore Rd, Berrinba Mitre 10 Jul-18 | 35,000 p | 100 | 10

88 Moreton St, Heathwood CUB Apr-19 | 21,800 r | 111 | 12

Future Port Expansion Area, Port of Brisbane Silk Contract Logistics Aug-18 | 15,250 p | 170 | 12

628 Kingston Rd, Loganlea M3 Logistics Aug-18 | 14,088 d-e | 78 | 4

616 Boundary Rd, Richlands Border Express Aug-18 | 13,763 d-e | 95 | 3

692 Curtin Ave, Pinkenba Enviro Pipes Aug-18 | 13,736 d-n | 127 | 7

Cnr Arthur Dixon & Pearson Rd, Yatala Reward Supply Co Sep-18 | 13,527 p | 103 | 7

64-74 Lahrs Rd, Ormeau Wet Fix Holdings Jul-18 | 13,331 d-e | 95 | 10

5a Viola Pl, Brisbane Airport CEVA Logistics Sep-18 | 12,971 d-e | 120 | 2

Australand Dr, Berrinba Pinnacle Hardware Nov-18 | 12,313 p | 105 | 5

1979 Ipswich Rd, Rocklea Hi-Trans Oct-18 | 12,204 d-e | 61 | 3.5

28 Brickworks Pl, Rochedale Keppel Logistics Jun-19 | 10,481 d-n | 115 | 5

29-51 Wayne Goss Dr, Berrinba CTI Logistics Oct-18 | 10,455 d-e | 107 | 5

Lot 3a, Saltwater Cres, Narangba Tambavale (QLD) Pty Ltd Mar-19 | 10,300 d-e | 90 | 12

30 Industrial Cres, Willawong Automotive Brands Apr-19 | 9,712 d-e | 105 | 5

55 Tonka St, Luscombe ATCO Structures Oct-18 | 9,170 p | 222 | 10

250 South Pine Rd, Brendale Modern Teaching Aid May-19 | 8,304 d-e | 100 | 7

-8.1%

-6.1%

-5.8%

-5.2%

-0.7%

1.1%

4.2%

13.4%

27.0%

NT

QLD

NSW

SA

AUS

ACT

VIC

WA

TAS

Source: DOE / Savills Research

Logistics Job Advertisements (12 mo Growth % to Apr-19)

Source: Savills Research; Leasing Types: p = Pre-commitment, d-n = Direct – New, d-e = Direct – Existing, pl = Pre-Lease, s = Sub-Lease, r = Renewal

June 2019



Rents

Growth in prime industrial net face rents has been modest in the 12 months to June 2019. The Trade Coast precinct remained the most expensive area to lease, typically ranging from $115 to $150 per square metre per annum (or an average $133 per square metre on a net face basis). By comparison, the average rate for the Southside and Northside precincts remain lower, at $118 and $125 respectively.

Competitive rentals offered by developers in the pre-commitment market are also holding back Brisbane’s rental growth, with a large number of tenant inquires receiving competitive rental rates along with attractive incentives.

110

115

120

125

130

135BRI - SouthsideBRI - NorthsideBRI - Trade Coast

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000Completed Under Construction Plans Submitted Early Planning DA

Average Prime Net Face Rents by Precinct ($/sq m)


Savills Research recorded 138,468 square metres of new or additional industrial space in the first half of 2019, with another 165,785 square metres currently under construction, due for completion in 2019. A total of 304,253 square metres of new supply is expected during 2019, an increase of 78% from the 2018 figure of 171,383 square metres.

Total supply in 2019 will be driven by solid pre-commitment of major users at the top end of the market. Australia Post (48,824 square metres), Toll (10,250 square metres), and UK-based Hilton Foods Group (39,454 square metres) in partnership with Woolworths, all pre-committed to new space in 2019. With competitive rentals being offered by developers in the pre-commitment market, development of new supply is expected to remain strong as tenants seeking new space take advantage of favourable rents and attractive incentives.

Supply / Industrial Development

110

115

120

125

130

135BRI - SouthsideBRI - NorthsideBRI - Trade Coast

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000Completed Under Construction Plans Submitted Early Planning DA

Completed Development and Pipeline (sq m)

Source: Cordell/Savills Research NB: includes new/addition speculative, precommitment, owner occupier development types.

June 2019



Savills Research recorded $1.13 billion of reported industrial property transactions (> $5 million) in the 12 months to June 2019, an increase of 30% on the $875 million recorded in the year prior and an increase of 45% on the ten-year average of $783 million. Over the current 12-month period, a total of 63 properties were transacted, down on the previous 12-month total of 67.

Investment appetite from offshore investors on industrial assets remained strong, accounting for 27% of total reported sales – representing the most active purchaser type in the year ending June 2019. Active buyers include; DWS Group (Germany), Mapletree (Singapore), Blackstone (USA), and Ascendas REIT (Singapore).

The most significant single transaction for the 12-month period was the sale of a 50% interest in the Coles Distribution Centre at 99 Sandstone Place, Parkinson, purchased by DWS Group from Frasers Logistics Trust for $134.2 million representing an initial yield of 5.78%. Based on the equivalent price for a 100% interest, this sale represents the largest individual industrial asset transaction by value in Australian history. On 15.53 hectares, the site comprises a significant 54,245 square metre cold store distribution centre, fully leased to Coles with a 13.1 year WALE.

Australian trusts have long sought to increase their exposure in Brisbane industrial market, accounting for 16% of total reported sales in the 12-month period. Charter Hall Long WALE REIT and Charter Hall Social Infrastructure Limited jointly purchased the Brisbane City Council Bus Network Terminal at 40 Schneider Road in Eagle Farm, for $102.5 million on an initial yield of 5.08%.

$0m

$200m

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$1,400m $5m - $50m $50m - $100m >$100m

0% 20% 40% 60% 80% 100%

Purchasers

Vendors

Fund Trust DeveloperOwner Occupier Government SyndicateForeign Investor Private Investor Other

%

2%

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6%

8%

10%

12%10yr Bond Rate Average Prime YieldAverage Prime IRR


Yield Spread to Bond & IRR – Brisbane

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$1,000m

$1,200m

$1,400m $5m - $50m $50m - $100m >$100m

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Purchasers

Vendors


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2%

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10%


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$1,000m

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$1,400m $5m - $50m $50m - $100m >$100m

0% 20% 40% 60% 80% 100%

Purchasers

Vendors


%

2%

4%

6%

8%

10%


Sales Activity by Price


Vendor & Purchaser Composition

Source: RBA/Savills Research

Sales Activity

June 2019



Brisbane prime industrial yields as at June 2019 range between 5.25% and 6.75%, tightening 60 basis points on average over the year. Brisbane’s Trade Coast continues to have the tightest investment yields at an average of 5.80%.

Prime industrial capital values as at June 2019 are estimated between $1,475 and $2,025 per square metre in the Southside, $1,650 and $2,300 per square metre in the Northside, and, $1,775 and $2,325 per square metre in the Trade Coast. The Trade Coast continues to record the highest average capital value with $2,050 per square metre as at June 2019. The Northside recorded the highest year on year increase in capital value, at 13.0%.

High demand has led to steady growth in land values across all precincts. Average industrial land values in the Trade Coast precinct remained the highest at $525 per square metre as at June 2019. Land values in the western precinct grew by 32%, continuing to outperform other precincts. The South East is rebounding with an average industrial land value of $313 per square metre.


Prime Average Market Yield (%) by Precinct

Property Type Price ($m) | Date | GLA Yield | Type | $/sq m

99 Sandstone Pl, Parkinson (50%) Cold Storage 134.20 | Jun-19 | 54,245 5.78 | i | 4,948

44 Stradbroke St, Heathwood Warehouse 105.00 | Oct-18 | 55,739 5.83 | i | 1,883

40 Schneider Rd, Eagle Farm Infrastructure 102.50 | May-19 | 6,508 5.08 | i | 15,751

102 Trade St, Lytton Cold Storage 55.00 | Nov-18 | 14,479 6.10 | i | 3,798

80 Mccotter St, Acacia Ridge Warehouse 44.65 | Oct-18 | 13,224 5.25 | i | 3,376

134-160 Ingram Rd & 220-240 Bradman St, Acacia Ridge Factory 42.08 | Feb-19 | 37,958 7.84 | i | 1,108

71 Charles Ulm Pl, Eagle Farm Warehouse 35.50 | Jul-18 | 21,100 5.89 | i | 1,682

1035-1051 Nudgee Rd, Banyo Warehouse 34.25 | Nov-18 | 18,116 5.98 | i | 1,891

56 Lavarack Ave, Eagle Farm Warehouse 33.50 | Aug-18 | 8,321 7.21 | i | 4,026

Lot 102 Wayne Goss Dr, Berrinba Warehouse 31.10 | Aug-18 | 19,486 6.76 | i | 1,617

149 Kerry Rd, Archerfield Warehouse 30.55 | Dec-18 | 13,774 6.50 | i | 2,218

1-7 Wayne Goss Dr, Berrinba Warehouse 30.00 | Sep-18 | 17,880 v | 1,678

425-479 Freeman Rd, Richlands Land 26.50 | Aug-18 | 91,619# dev | 289

Lot 5, Hoepner Rd, Bundamba Warehouse 24.36 | Apr-19 | 11,008 5.86 | i | 2,213

60 Stapylton-Jacobs Well Rd, Stapylton Land 22.55 | Dec-18 | 642,400# dev | 35

Recent Notable Sales (by Sale Price)

Source: Savills Research; i = Initial, v = Vacant, dev = development; #Land Area

5.0%

5.5%

6.0%

6.5%

7.0%

7.5%

8.0%

8.5%

9.0% BRI - Southside BRI - Northside BRI - Trade Coast

June 2019



The completed Gateway Upgrade North involved the widening of the motorway from four to six lanes between Nudgee and Bracken Ridge. The project was jointly funded by the Federal Government and the State Government at a total cost of $1.143 billion.

The Kingsford Smith Drive Upgrade connects Brisbane CBD to the Port of Brisbane, and Australia TradeCoast. The project will involve the widening of Kingsford Smith Drive from four to six lanes between Theodore Street at Eagle Farm and Cooksley Street in Hamilton, as well as road improvement works between Cooksley Street and Breakfast Creek Road in Albion. The $650 million project commenced in mid-2016, and is anticipated to be completed in 2019.

Inland Rail is a proposed 1,700 kilometre rail freight route between Melbourne and Brisbane via regional Victoria, New South Wales, and Queensland. It is to be constructed by Australian Rail Track Corporation (ARTC). The development of the rail route will include 700 kilometres of existing track, an upgrade of 400 kilometres of track, and construction of 600 kilometres of new track. The Australian Government, through the ARTC, is delivering the multi-billion dollar infrastructure project in partnership with the private sector. The Government has committed $8.4 billion, on top of the previously funded $900 million. Works commenced in 2017, and based on the 10-year delivery schedule developed in 2015, the first train is expected to operate in 2024-25.

Project Est. Cost Status Completion

Gateway Upgrade North $1.14bn Completed Mar-19

Kingsford Smith Drive Upgrade $650m U/C 2019

Inland Rail $9.3bn Planning 2025

Dedicated Freight Rail Corridor TBC Studying 30 years+

w

Key Infrastructure Project Summary - Brisbane

The ‘Dedicated Freight Rail Corridor’ (DFRC) is a proposed preservation of a dedicated/segregated freight rail corridor to the Port of Brisbane, which links with the Inland Rail. As highlighted in the recent release of the ‘SEQ City Deal Proposition’ by the State Government, a South East Queensland Trade and Enterprise Spine between the Toowoomba Trade Gateway and the Australia TradeCoast, is proposed to connect by Inland Rail to the Port of Brisbane. This would ease traffic congestion, create safer roads, and increase trade volumes through reduced transport costs. The project is still at the initial study stage, in which the Federal Government and the State Government have jointly funded $1.5 million.

Outlook

Demand fundamentals are positive with solid investment in road infrastructure, as well as population growth which continues to support industrial activities in Brisbane. The revised 2018 population projections show growth of 20% for Greater Brisbane over the forecast period to 2036. Population growth forecasts underlie sustained future demand for industrial facilities. The proposed Inland Rail and Dedicated Freight Rail Corridor which further links the Inland Rail to the Port of Brisbane will have great effect on the Brisbane industrial market, as industrial operators are set to benefit from efficiencies in supply chain, and support for future expansion.

According to Deloitte Access Economics, Queensland’s economic growth and industrial production, forecast at 3.6% (2018 – 2022) is due to outperform other states in Australia over the next decade. The value of Queensland’s industrial production increased 6.6% in 2018, and this upward trend is anticipated to continue over the next decade.

Sales and leasing activities recorded a significant increase in the 12-month period, we expect the trend will continue in the second half of 2019 as Brisbane industrial assets gain in popularity, and tenant demand increases. Yields are expected to be tightened due to sustained investor demand.

Source: QLD-Department of Infrastructure, Local Government and Planning

Infrastructure

June 2019



Brisbane Industrial Precinct

PACIFIC MO

TORW

AY

MO

UNT

LIN

DES

AY H

IGHW

AY

M1 CORRIDOR

NORTHERNPRECINCT

SOUTH

TRADE COAST

FUTUREGROWTH

FUTURE GROWTH

WEST

GAT

EWAY

MOT

OR

WAY

BR

ISBANE

VALLEY M

OTORWA

Y

CUNN

ING

HAM

HIG

H WAY

LOGAN MOTORWAY

BR

UC

E H

IGH

WAY

M2

M2

M7

A7

A5

M5

M3

M7

A3

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M1

M1

M2

M1

M1

M1

M1

June 2019



Brisbane Industrial Key Indicators (Q2-2019) Northside (Zillmere, Geebung, Northgate, Banyo, Virginia, Morayfield, Caboolture, Brendale, Strathpine, Petrie, North Lakes, Burpengary, Deception Bay and Narangba)

NorthsidePrime Secondary

Low High Low High

Rental Net Face ($/sq m) 110 140 65 100

Incentives (%) 8 15 8 15

Yield - Market (%) 5.50 6.75 7.00 8.00

IRR (%) 6.75 7.25 7.75 8.75

Outgoings - Total ($/sq m) 20.00 25.00 15.00 20.00

Capital Values ($/sq m) 1,650 2,300 1,150 1,450

Land Values 3,000 - 5,000 sq m ($/sq m) 450 (high) 275 (low)


Trade Coast (Hendra Eagle Farm, Pinkenba, de, Murarrie, Hemmant, Lytton, Fisherman Island, Tingalpa, Wakerley, Cannon Hill)

Trade CoastPrime Secondary

Low High Low High


Incentives (%) 5 18 8 12

Yield - Market (%) 5.25 6.25 7.00 8.00

IRR (%) 6.50 7.25 6.75 7.50





SouthsidePrime Secondary

Low High Low High


Incentives (%) 13 18 10 15

Yield - Market (%) 5.50 6.25 7.25 8.25

IRR (%) 6.75 7.25 7.75 8.75


Capital Values ($/sq m) 1,475 2,025 900 1,300



Land Values 10 ha and above ($/sq m) 200 (high) 100 (low)

Southside (Yeerongpilly, Salisbury, Rocklea, Archerfield, Willawong, Acacia Ridge, Coopers Plains, Eight Mile Plains, Rochedale, Seventeen Mile Rocks, Sumner, Darra, Oxley, Wacol, Carole Park, Richlands, Shailer Park, Slacks Creek, Springwood, Underwood)

Source: Savills Research*Savills metrics includes marketable commercial industrial buildings within defined precinct boundaries, generally inclusive of an improved building area of between 1,000 and 20,000 square metres. Land values reflect ‘serviced & benched’ sites (3,000 - 5,000 sq m and 10,000 – 50,000 sq m) and ‘englobo’ sites (10 ha and above).

June 2019



South East (M1 / Logan Motorway Corridor) (Crestmead, Marsden, Browns Plains, Meadowbrook, Berrinba, Loganlea, Loganholme, Heathwood, Larapinta, Parkinson, Yatala, Stapylton, Kingston, Beenleigh, Eagleby, Hillcrest)

South East (M1 / Logan Motorway Corridor) Prime Secondary

Low High Low High


Incentives (%) 10 20 10 15

Yield - Market (%) 5.50 6.25 7.50 8.00

IRR (%) 6.75 7.25 7.75 8.75






West (Goodna, Springfield, Redbank, Bremer, Ebenezer, Willowbank, Mutdapilly, Purga, Swanbank, Ipswich, New Chum, Wulkuraka, Amberley, Bundamba, Raceview, West Ipswich)

WestPrime Secondary

Low High Low High


Incentives (%) 12 17 10 15

Yield - Market (%) 5.75 6.50 8.00 8.75

IRR (%) 7.00 7.50 8.25 9.00


Capital Values ($/sq m) 1,475 1,825 900 1,300




Source: Savills Research*Savills metrics includes marketable commercial industrial buildings within defined precinct boundaries, generally inclusive of an improved building area of between 1,000 and 20,000 square metres. Land values reflect ‘serviced & benched’ sites (3,000 - 5,000 sq m and 10,000 – 50,000 sq m) and ‘englobo’ sites (10 ha and above).

June 2019



Key State Office Contacts

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Disclaimer

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Information contained in this communication has been obtained from materials and sources believed to be reliable at the date of publication, however Savills has not taken steps to verify or certify its accuracy or completeness. Opinions, projections and forecasts in this communication depend on the accuracy of any information and assumptions on which they are based, and on prevailing market conditions, for which Savills does not accept responsibility. No representations or warranties of any nature are given, intended or implied by Savills about this communication, any information, opinions and forecasts contained within this communication or the accuracy or enforceability of any material referred to in this communication.

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The Savills Research & Consultancy team has years of experience, and is supported by our extensive agency, property management and valuation professionals. For national-level consultancy or subscription requirements please contact:

Capital Strategy & Research Phil Montgomerie +61 (0) 2 8215 8971 [email protected]

Research & Consultancy Phil Montgomerie +61 (0) 2 8215 8971 [email protected]

Asset Management Phillip Dunn +61 (0) 7 3002 8831 [email protected]

Research & Consultancy Tracy Tam +61 (0) 7 3002 8859 [email protected]

Sunshine Coast Scott Gardiner +61 (0) 7 5313 7514 [email protected]

Industrial & Business Services Callum Stenson +61 (0) 7 3002 8832 [email protected]

Gold Coast Kevin Carmody +61 (0) 7 5509 1700 [email protected]

Valuations Leigh Atkinson +61 (0) 7 3002 8852 [email protected]

Project Management Ken Ng +61 (0) 7 3018 6705 [email protected]

briefing brisbane industrial june 2019 · 2019-08-02 · briefing brisbane industrial june 2019...

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