Land released at Hume's New West Industry Park a boon for industrial market

Hume’s New West Industry Park is set for a further boost with a 30,000 square metre-plus block on the market with plenty of business options.

Block 10, Section 21 on Couranga Crescent covers 32, 211 square metres and sits between two generously sized blocks that have already been sold.

Agent Gavin Obst of MMJ Real Estate, appointed to sell the block on behalf of the Suburban Land Agency, says zoning allows for a wide range of permitted uses from a freight transport facility to plant and equipment hire with plenty of options in between.

“This is a fantastic opportunity for the industrial market given the ideal location of the estate,” he says. “It has easy access to the Monaro Highway and is only 17 kilometres to the CBD – and it’s in close proximity to Tuggeranong, Jerrabomberra and Queanbeyan.”

The block is listed at $3.8 million.

New West Industry Park has expanded significantly in recent years with more than 20 industrial sites sold and a variety of private and government organisations, including the Motor Vehicle Inspection Station.

Obst says four blocks have also been released in Stage 2A on Pethard Road and range in size between 5000 square metres to nearly 10,000 square metres.

He believes competition for that land may well be keen.

• Related: Where Canberra land is being released
• Related: Previous land releases throughout Canberra
• Related: Previous industrial land sales at Hume

“Prices for all land released through the Suburban Landy Agency are determined after independent valuations and other blocks of a similar size in the park have sold for between $140-$145 square metre,” he says.

“It’s not unreasonable to expect these blocks will be sought-after and may achieve higher sales results given the diversity of private and government organisations already operating there.”

Obst believes the blocks represent a great opportunity to secure land in this increasingly popular industrial estate.

“Early purchasers will have the lead time to co-ordinate design and planning approvals and be ready to start building in mid-2018,” he says.

Obst believes these opportunities will appeal to owner occupiers looking to relocate or establish their businesses rather than developers.

A further 60,000 square metres of land is planned for release in Hume by 2020-21. The first stage of the estate was released to the market in 2011.

Currently, there are around two dozen Hume industrial properties advertised for sale on All Homes and priced from $80,000 to more than $5 million.

Agents: Gavin Obst, Nick George, MMJ Real Estate 0408 490 066, 0419 205 619.