Industrial land sales slow
THE developer of Murwillumbah’s $350m Industry Central Estate says buyers are still showing interest in the land despite harsh economic conditions.
There has been little movement at the estate since the Bunnings Trade Centre opened in May last year, but that could soon change according to Peter Mitchell. The Gold Coast-based developer said two blocks had recently been sold and another seven hectares was under contract.
He has also recently struck a deal with the Federal Government to house a “very important operation” at the estate that will need multiple buildings and 700sqm of land.
“This is a great achievement given the very harsh economic times we are experiencing,” Mr Mitchell said.
“I assure you, all along the eastern seaboard industrial land sales are very weak and remain weak.”
“It is a disaster of huge proportions that finance is so tight, and this is something that is not going to be fixed in the short term.”
Mr Mitchell said he was offering attractive deals for business to relocate to the Tweed and bring jobs to the area.