Brisbane is facing a “critical shortage” of industrial land, with the current supply expected to be fully utilised within five years.
New research has found around 205 hectares of industrial land is expected to be absorbed annually across Greater Brisbane over the next five years.
The current supply of this land is already 96.87 percent utilised, leaving little capacity for more area to house equipment, materials, vehicles and storage.
The research, from the Property Council of Australia and SA1 Property, said Brisbane was the strongest-performing industrial market on the East Coast.
As a result, some of Brisbane’s key industrial precincts had as little as 3.5 years of supply remaining.
Property Council Queensland Executive Director Jess Caire said the findings reinforced the need to accelerate the delivery of additional industrial land.
“Queensland’s industrial precincts are doing the heavy lifting for a growing economy,” Ms Caire said.
“Supporting freight, logistics, construction and the delivery of major infrastructure, many of these strategically located sites are now approaching full occupation, leaving limited room for future growth.”
Ms Caire said industrial land values had increased by 44 percent in 12 months.
“If we don’t maintain a pipeline of well-located job-creating employment land, we risk pushing up costs for businesses, making it harder for new investment and jobs to flow into South East Queensland,” she said.
“This requires immediate, coordinated action between industry and government. employment land cannot simply be pushed to the urban fringe, it must be close to transport infrastructure, freight networks, ports, airports and labour markets.”
The full report is here
