Vacant Northern Rivers site to attract investors as industrial land availability at ‘all time low’
294 Ewingsdale Rd, Byron Bay NSW
A large industrial landholding in NSW’s Northern Rivers region is tipped to offer over 59,000 sqm of space in an area where less than 400 sqm is available for lease.
The site at 294 Ewingsdale Rd in Byron Bay includes 59,590 sqm of available land near one of Australia’s most well-known tourist destinations.
It’s also in one of the most tightly-held industrial markets, with a vacancy rate of approximately 0.1 per cent.
The Byron site has 59,590 sqm of available land.
Giving investors the flexibility in size to create a commercial site on the blank canvas of land, the site has been listed on behalf of Tower Holdings and the Colliers team of Michael Crombie, Gavin Bishop, Sean Thomson and Daniel Coburn.
Mr Crombie said that the blank canvas nature of the site creates the possibility of multiple development outcomes.
“With an absolute lack of industrial stock in this booming Byron Bay industrial precinct, we expect the site to be a highly sought-after blank canvas that will allow the buyer to create something very special. Many of the local occupiers are having to make do with older warehouses across many buildings, so interest will be strong to amalgamate into a more modern opportunity.”
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The blank canvas site presents multiple development opportunities.
In the first quarter of 2023, the national industrial vacancy rate measured 0.5 per cent with the availability of stock above 1,000 sqm more limited.
Mr Thomson said that the high occupancy levels of industrial landholding is underpinning record levels of rental growth.
“The site offers ultimate development flexibility given its expansive 250-metre street frontage and significant exposure to Ewingsdale Rd, a busy main thoroughfare located only 1.5 kilometres from Byron Bay town centre.
Migration to Byron Bay has been particularly high since the pandemic.
“Byron Bay is one of Australia’s fastest-growing regions, with significant migration to the precinct since the onset of COVID-19, encouraging strong economic activity in the region.”
Pricing at the latest industrial development The Depot shows sales rates are approximately $9,000 per sqm and rents at $400 per sqm.
The Byron region has attracted both public and private funding that has boosted the local economy.
“The land supply of the Northern Rivers and nearby Gold Coast industrial markets are at an all-time low. This outstanding opportunity in the region’s most sought-after suburb will at last provide much needed supply for the pent up demand from occupiers looking to enter and expand within the area.”
The site is being offered for sale via Expressions of Interest closing on the 6th June.
