New ownership is breathing fresh life into a Woolcock St business park.
The Melbourne-based Gibb Group yesterday launched a $2 million overhaul of the property at 547 Woolcock Street to clean, paint and landscape the site and a build a new entrance road.
The complex, which comprises 30 office-warehouse units, hard-stand areas and concrete internal roadways on about 4Ha of land has languished since its development in 2009 by the now-collapsed Insight Group.
Gibb Group bought the complex and another 4Ha of vacant land adjoining the site last month for a price understood to be just over $10 million.
The complex is home to five businesses including two new tenants that are set to move in, lie marker Dymark and Leighton subsidiary and telecommunications operator Visionstream.
The remaining units, ranging in size from 174sqm to 1278sqm, are up for sale from $1200 per sqm plus GST or lease from $100 per sqm plus GST. Gibb Group principal Matt Gibb said they wanted to show people they were serious about revamping the complex, renamed 547 Industry Park.
He said they were employing more than 30 local businesses and about 50 people re-branding and re-establishing the property.
Contractors wore yellow shirts provided by Gibb Group yesterday to provide some colour for the launch.
“547 Industry Park is a high-quality complex with exposure to 16,000 cars daily, offers a range of unit sizes that should suitmost local industrial businesses and benefit from its prime positioning between the major industrial suburbs Garbutt and Bohle,” Mr Gibb said.
He said they were about to submit final plans for a new $1 million entrance and exit road on to Woolcock St and planned to go to tender for the work within two weeks.
Mayor Jenny Hill praised the company’s investment.
“It’s an indication there is confidence from outside of the region coming back into Townsville,” she said.
Townsville Bulletin – 23 May 2012