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A new report into the industrial property vacancy rate in South East Queensland is the first of its kind and may lead to such figures being collected annually in what could be a valuable resource for potential investors.
The Property Council of Australia (PCA) released the Industrial Vacancy Report on June 13. The report was produced by the AEC Group and examines the industrial real estate market in the Australia Trade Coast precinct, located six kilometres from the Brisbane CBD.
As of March 2013, there were 25 vacant properties in the precinct, comprising a total of 168,525sqm of floor space.
That meant a vacancy rate of 4.9 per cent.
PCA Queensland executive director Kathy Mac Dermott said in a statement that until now her organisation had only provided data of this kind for the office market.
"This is the first time a vacancy report for industrial property has been successfully undertaken anywhere in the country," said Ms Mac Dermott.
She underlined the importance of the industrial sector to the state's economic growth, noting that a 2008 report had attributed 21 per cent of South East Queensland's employment coming from this domain.
"A healthy vacancy of 4.9 per cent in industrial property over 3,000sqm should send a positive message to Queensland and interstate investors that this market is well positioned for future growth."
As for the future of such reports, Ms Mac Dermott said that with the benefit of additional data collections over time it will be possible to build a valuable base of knowledge that will prove critical to those making key decisions in the industrial property market.
"Future iterations will be able to track shifts in vacancy over time and analyse trends in shock absorption and land consumption in similar fashion to the Office Market Report."
