Work has started on the $1.2 million access road linking the Woolcock St business park with the Bruce Highway. Townsville Mayor Jenny Hill turned the first sod last week.
The long-awaited construction at 547 Industry Park was initiated by new owners, Melbourne-Based Gibb Group, which bought the property in March.
Cr Hill said the development was a significant investment in Townsville’s industrial facilities and a strong vote of confidence in the city’s economy.
“Already the city’s transport and warehousing businesses contribute over half a billion dollars every year to the local economy,” she said. “Townsville’s diverse economy and great lifestyle are the city’s greatest assets and it’s no surprise that investment from companies right around Australia is on the increase.”
Property developer and asset manager Matthew Gibb said the new access road would significantly increase the value of the 27 unit and warehouse spaces.
“Despite its position overlooking the Bruce Highway, 547 Industry Park is only accessible via Carroll St,” he said.
“This indirect route can lead to some confusion for first-time visitors to the Park and lacks the grand entrance that a property of this calibre deserves.
“We anticipate that when construction of the access road is complete, the value of the warehouse units will increase significantly based on the improved access.”
New tenants have been welcomed to 547 Industry Park since Gibb Group took ownership including, VisionStream, Lawrence & Hanson, The Bed Shed, Fusion Solar, Formset, Recall Information Management, Coffey Group, R&J Batteries and The Digimen. The access road should be finished in March.
Townsville Bulletin – 12 December 2012