OFFICIAL NEWSLETTER OF ISSUE 28 AUTUMN 2007 page 10 (with graphs) FOUND - A LARGE GREEN BUCKET MARKED “FOR USE IN A SERIOUS WATER CRISIS” page 8 GUEST COMMENTARY It’s still a good market to buy or rent! Greenbank Greenfields = less Greenhouse Gas Why converting the Army’s Greenbank Military Training area into a much needed Inland Port will also be more environmentally friendly than any other option page 3 (with map on back page) Why converting the Army’s Greenbank Military Training area into a much needed Inland Port will also be more environmentally friendly than any other option page 3 (with map on back page) TRENDING AROUND THE CITY FRINGE AND INTO THE SUBURBS page 12 HOW DID OUR INDUSTRIAL SUBURBS GET THEIR NAMES? A-R page 27
Transcript
ISSUE 28 AUTUMN 2007
page 3 (with map on back page)page 3 (with map on back page)
page 12 page 27
It’s still a good market to buy or rent!
OFFICIAL NEWSLETTER
page 10 (with graphs)
FOUND - A LARGE GREEN BUCKET MARKED “FOR USE IN A SERIOUS
WATER CRISIS”
GUEST COMMENTARY
GreenbankGreenfields
= less Greenhouse GasWhy converting the Army’s Greenbank Military Training area into a much needed
Inland Port will also be more environmentally friendly than any other optionWhy converting the Army’s Greenbank Military Training area into a much needed
Inland Port will also be more environmentally friendly than any other option
TRENDING AROUND THE CITY FRINGE AND INTO THE SUBURBS
HOW DID OUR INDUSTRIAL SUBURBS GET THEIR NAMES? A-R
OF
page 8
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We make it our business to understand yours.With Westpac Business Banking we have Relationship Managers who are property specialists in both development and investment. They know your industry and take the time to listen to you and offer flexible funding packages that satisfy your individual project requirements.
Subject to eligibility criteria. Westpac Banking Corporation ABN 33 007 457 141.GDA23358
Why converting the Army’s Greenbank Military Training area into a much needed Inland Port will also be more environmentally friendly than any other option
Greenfields Greenbank= less Greenhouse Gas
&
cjl
mens
continued page 4
Why SEQ needs an Inland Port by 2022The State Government must get ready to provide SE Queensland’s
logistics users with a state of the art “ Inland Port” over the next
10-15 years if they’re to survive constantly escalating time and
availability demands in and around the Port of Brisbane, as well as
along the supply chain that radiates from it. Furthermore, not to
commit to this project will eventually have a devastating impact on
the Port of Brisbane’s ability to maintain cost competitiveness with
counterparts in other states, many of which are well along the way
to building their own ports...even, ironically, one being developed
in NSW by Queensland Rail.
Factors to consider before proceedingWhile the rationale underpinning such
an admittedly costly effort, as well as the
time frame for its implementation, have
been detailed in past King’s Counsels,
some additional points need highlighting
in relation to them, particularly before
proceeding onto the issues of what
constitutes an Inland Port and where it
should be located:
• Without an Inland Port container volume
to and from the Port of Brisbane is
projected to double or even triple by
2022, and that such a jump will be
unsustainable if haulage continues to
overwhelmingly rely on large B-Doubles
rumbling through increasingly built up neighbourhoods and
down crowded access roads, thereby contributing to traffic
congestion and supply bottlenecks, as well as create numerous
accidents and not a little community disquiet. Presently, trucks
carry 85% to 95% of the 1,700 containers that come in and
go out of the Port on a daily basis, a ratio that’s surely to be
sustained as long as rail is given such short shrift by the Federal
and, to a lesser extent, State Government.
• The 84 ha Acacia Ridge rail marshalling yard and interchange
is rapidly approaching its use by date due to spreading
suburban encroachment, more crowded streets, an awkward
layout, operator bickering, an inability to accept longer train
lengths (plus a too late overpass at Beaudesert Road to
solve the problem) and only 7 years until Pacific National’s
access agreement runs out. Indeed, it’s just a matter of time
“…not to this pro
eventualdevastatingthe Port of
ability tocost comp
with couin other
Co Property Consultants
ommit to ect will y have a impact on Brisbane’s
aintain titiveness terparts tates…”
before this venerable site will either devolve into a home for
secondary logistics users or be redeveloped as high density
residential/commercial.
• An Inland Port must be integral to the planning, financing and
construction of the equally needed 1,800 km $3 billion rail
freight link from the Port of Melbourne to the Port of Brisbane via
dedicated tracks, the exact route of which is still up in the air, but
should take place, one way or another by 2020, possibly earlier
since the concept is supported by both sides of the political aisle.
More to the point, no port means no rail link...and vice versa.
What is an Inland Port and what must it include?Conceptually, an Inland (or dry) Port is
a parcel large enough to incorporate a
so-called Intermodal Transport Hub with
the infrastructure to provide efficient
connectivity between trains, trucks and
the containers they carry. This facility
would complement a main seaport, eg
the Port of Brisbane, but be far enough
away from built up areas to be free of
issues that might inhibit operations or
create bottlenecks.
It must include adequate crane lift
capability, have good access to major
arterials, be conveniently situated near
the markets it services, and, so it can
move goods over a 24 hour, 7 day cycle,
plus leave an adequate buffer between any of its operations and
residential neighbourhoods. Needless to say, it is required to be on
a standard or dual gauge rail line going in both directions, have
central rail sidings of at least 2 km, to allow for the more profitable
1,800 m trains, preferably double stacked, and provide for Super
B Doubles, which can carry two 40 foot containers (and are
increasingly the size of choice at, for example, Fishermans Island).
The same for the on-site B Triples, that require hardened streets
and floors to carry their extra weight as well as space for the wide
turning areas they need.
The Inland Port should also feature integrated import/export
facilities with Custom/AQIS services, an empty container pool,
covered warehousing and open access to allow its use by anyone,
not just the big operators. A rail or truck repair/maintenance facility
3
4
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continued from page 3
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continued page 5
would be another advantage. Meanwhile, and in consideration of
environmental realities, the location must be as close as possible
to both its customer base and the seaport to minimise greenhouse
gas emissions, fuel usage and turn around times.
What is the best site for an an Inland Port? Bromelton, Purga or Greenbank?Until recently, only two sites have been explored by the State
Government (via separate Maunsell reports) as a potential Inland
Port...the 1,700 ha of land at Bromelton in the Beaudesert Shire,
and Purga’s 520 ha of land directly south of Ipswich.
Outside this competition, 4,500 ha
of land encompassing the Greenbank
Military Training area, potentially the
most promising site, was virtually
ignored as a possibility because its
owners, the Department of Defence,
let it be known that there would never
be a change of disposition because, it
was argued, no replacement sites
could ever be found for Army uses, ie
shooting ranges, manoeuvring areas
and troop bivouac accommodation.
This “elephant in the room” status must now, however, have to
be reconsidered in light of a Defence Department spokesman’s
affirmative response not so long ago to our question: “Would
you contemplate selling or otherwise transferring title of your
Greenbank land to, for example, a State Government agency, if a
reasonably similar alternative site was presented?”
Before reaching any conclusions, let’s look at each candidate, its
virtues as well as flaws, particularly since one of them, Purga,
had, until now, been consistently touted as our favourite. In
fact it had been heavily promoted in successive King’s Counsels
and was part of submissions King & Co made to the State and
Federal Government, including a live presentation to a House of
Representatives “Hearing into the integration of regional rail and
road networks and their interface with ports.”
Bromelton?Bromelton is to the west of Beaudesert City and has long been
promoted by the Department of State Development, and now
Department of Infrastructure, as a location for hard to place
industries, like manufacturing, and, because of its proximity to a
standard gauge rail to Sydney, was seen as Inland Port material.
Indeed, some developers and potential port users like Pacific
National had apparently taken this view to heart and bought up
a considerable amount of land there. Unfortunately Bromelton
also suffers from undulating topography, roads (like Boonah and
Beaudesert Brisbane Roads) that would have to be expensively
upgraded, a lack of water, gas and broadband, fragmented
ownership and a static customer base. On top of this, the once
touted rail line was, in fact, found to be a decrepit single track
in bad need of repair...caveats that might explain why a number
of those who picked up land here have recently onsold, or are
trying to, and why the Government has recently been toning
“The 84 ha Arail marsha
and intercrapidly appr
use by d
down its support, even after dubbing it with Major Project
Facilitation status.
Purga?The other alternative was Purga, an area to the south of the
Cunningham Highway, which has also been under investigation as
a future Inland Port and received especially high marks to that end
from the Maunsell report noted above
Among Purga’s virtues was the ability to provide easily developed
space on 256 ha of land within the estate, a potential, according to
the SEQ Regional Plan, that was “based on the area’s accessibility
to interstate highways, supported
by the connector between the
Cunningham and Warrego Highways
and the proposed dual gauge freight
railway linking the area to the standard
gauge line north of Bromelton.” It
also could link to the existing rail
corridor at Rosewood, via a relatively
easy connection to the mooted Inland
Rail, and can provide a direct rail
freight link with the Port by way of a
Southwest corridor to Larapinta either
onto Acacia Ridge then to Dutton Park, or continuing along the
Logan, Gateway and Port Motorways.
Moreover, Purga also enjoyed the ability to service some of
Queensland’s most significant parcels of land designated for
industrial uses, including the 3,350 ha Ebenezer Industrial Park
at Willowbank, the 700 ha Swanbank Enterprise Park, the 200
ha Bremer Business Park in Bundamba, while to the north, and
straddling the Cunningham Highway, 183 ha of land abutting the
Amberley RAAF base is being examined for aviation/aerospace
uses, possibly to commence before 2010.
As a greenfields site Purga’s owners had the added benefit of being
able to set the ground rules from day one, including the number
of terminal operators and their relationship with the lessor, who’s
going to be the best manager and what are the most efficient
points of access. The new entity also would have clear rein to
institute the best methods of interfacing with the industrial users
who moved here to be near a rail link, including the provision
of single and cluster based rail sidings, multi user terminals and
spur lines.
While still having a soft spot for Purga, we also must face the fact
that the majority of this State’s population influx will still head
towards the coastal conurbation, rather than the western corridor,
meaning that Purga, like Bromelton, won’t have the customer
base to justify a logistics hub this far away, or a full range of
infrastructure and services.
And the winner is GreenbankThis leaves Greenbank, at least its Military Training component,
where an Intermodal Transport Hub could easily be situated on 600
ha to 800 ha of its comparatively flat land along and above Oxley
Creek and parallel to the Brisbane/Sydney standard rail line, which
Further east, Morningside suffers a high level of interest matched
by a shortage of stock in all sizes and types, meaning there’s only
been marginal sales activity. While tight, the leasing market can
provide some unit vacancies at Riverside Place and at Junction Road,
though prospective tenants might be a little nervous at paying the
premium rates being asked. Then, again, they also might want to
consider that the cost of getting into these spaces jumped around
$35/m2 in just 18 months and it won’t stop climbing.
In the more distant future many await
the development of the 27.49 ha
ex-Mobil Oil site at 506 Lytton Road,
which was bought last year for for
$45.1 million and is expected, over the
next 10 years, to be turned into a $300
million industrial/commercial precinct.
Remediation work is expected to take
another year.
Sales activity in Murarrie has been quite
active and resulted in The Moorings’
18 units at Rivergate Place being all sold out, and for benchmark
prices. Reflecting this trend even more was the record $2.42
million paid for a 1,300m2 freestander on Miller Street, and after
only two days on the market.
Added to this mix is the Bridgemark Centre at 93 Rivergate Place, a
new complex consisting of 24 office/warehouse units in sizes from
215m2 to 352 and featuring large office contents. Already, 80%
have been sold off the plan, mostly to owner/occupiers.
Then there’s the BridgeVue development at 41 Paringa Road,
which has started construction and consists of seven industrial
units ranging from 275m2 to 1,100m2. Already two have been
sold off the plan, leaving only one left, the rest being held by the
developers for leasing use.
Renters in search of units have much to choose from, though
at rates that might generate a bit of “sticker shock” among the
inexperienced. For example, a development at Alexandra Place,
and available in June, will offer smaller units for a rather steep
$160/m2 to $190/m2, albeit with a high office component, while
larger ones should achieve an equally dear $125/m2 to $135/m2.
As noted above, prospective tenants have little choice but to pay
up because these rates will seem cheap in a year’s time.
The next few months will see the release of 7,000m2 of land at 330
Queensport Road. Although said to be earmarked for units with a
high office component, the plans and prices are yet to be released.
Hemmant, which has been capturing Murarrie’s overflow, is,
itself, almost filled. For example,The Avenue Industrial Estate at
the corner of Aquarium Avenue and Lytton Road has seen all but
3 of its 18 units sold, while the 11 unit Hemmant Business Park on
Canberra Street is down to its last 2.
The near future should, however, see a flurry of new offerings for
sale or rent, including a dividable 1,500m2 freestander coming on
line at Luke Street in the Axis Industrial Estate. It is one of two,
with the other recently selling for a benchmark price in excess of
$1,800/m2. Luke Street is also the site of a soon to be built 2,500m2
freestander that will hit the market for around $3 million. Similarly,
“This was thtype to go onin the last thsituation reflbenchmark 6
Property Consultants
Pradella is putting up some spec freestanders in its Portlink Estate
at Benjamin Place, one being a 1,600m2 office/warehouse at an
asking price of $1,850/m2, or $145/m2 if leased. It should be ready
in August. Also at Benjamin Place, three buildings in sizes from
750m2 to 1,898m2 are nearly completed and will be available for
rent at between $125/m2 and $135/m2. In addition, there’s a range
of sizes for rent in a development at 41 Paringa Road. Finally, at an
unnamed location, 2 smaller units in a complex of 5 are going for
a sobering $2,500/m2.
In a part of Lytton that doesn’t belong
to the DSD’s industrial estate, some
land has been taken up at $350/m2
and, like all properties in this precinct,
will be developed for businesses with
Port related activity. There’s also been
a resale at Export Drive within the
government estate, where a 2,000m2
metal clad building was sold for a hefty
$3.2 million.
Sales activity in Tingalpa has been slow due to a lack of stock,
with the only one industrial property, a 1,000m2 office/warehouse
on 4,000m2 of GI land at Wondall Road, being bought, in this
case for $1,720,000. Leasing has also been constrained, a situation
made worse by the takeup of all units in a complex within a
Wondall Road development.
e last of its the market ree years, a ected by its 73% yield.”
15
Scenario 1. You and your wife, Mary, have worked long and hard. Many years and 3 offspring later, you look back proudly and say it was worth it. You have a beautiful home, a unit at the Coast, investments, superannuation, your business is thriving, and finally you can afford to take some time off.
Your children are independent. Malcolm is a successful architect and has just joined a partnership. He is married to Annie. Katie is a registered nurse and has moved in with her partner, Jack, who is in between jobs. Andrew works for the public service and he and Jodie already have four young children.
You and Mary have made Wills in similar terms, leaving your estate to one another. On the death of the survivor the estate is to pass to your three children in equal shares as this is only fair.
Scenario 2. Some years on, you and Mary make your ‘celestial transition’ and the estate is about to be administered. However the family stars are not in alignment:
- Malcolm’s latest work project has gone seriously wrong. A former client is suing for $4m damages, and his professional indemnity insurer is stalling. The stress has contributed to a breakdown of his marriage with Annie. He is worried that when his inheritance comes through, he will lose the lot if the court finds against him, and could face bankruptcy. Alternatively, his inheritance will be divided up with Annie as part of the matrimonial property in their Family Court proceedings.
- Katie has had enough of Jack’s bludging and abuse and has asked him to leave. Jack knows of Katie’s inheritance and insists that as her de facto he has a right to part of it, and that he’s not going until Katie makes it worth his while.
- Andrew plans to use his inheritance to pay off the mortgageand invest in shares but is concerned about the extra income tax he will pay.
Strategy
Revisit Scenario 1 - you and Mary are back making your Wills. Youinform your solicitor about your business, the family members, the family dynamics and your hopes for your children and grandchildren.Your solicitor advises setting up a Testamentary Trust.
Testamentary Trust
A trust essentially is established when a person (trustee) holds (thelegal title to) property for the benefit of another person (beneficiary).
A testamentary trust is simply a trust which is created by a Will. It comes into effect on the death of the Will maker. A Will can contain more than one testamentary trust eg a separate trust can be created and tailored to the needs of each primary beneficiary under the Will.
The Testamentary Trust comes in a number of forms. One of the most popular forms of Testamentary Trust is the Testamentary Discretionary Trust (TDT).
The Testamentary Discretionary Trust (TDT)
A TDT is essentially a Family Trust set in a Will. As with the Family Trust, the trustee can allocate income or capital to a beneficiary by referring to the particular circumstances which exist at the time, rather than being constrained by the Will maker’s predictions as to the future. This means that the exercise of discretion is involved. The trustee must act responsibly however, and must always exercise their powers in accordance with the onerous trustee duties imposed by law eg to preserve trust property, and to act exclusively for the benefit of all beneficiaries.
Why Use a TDT?
The principal advantage of an appropriately drafted TDT is its flexibility.
Remember that where assets are gifted by Will to a beneficiary subject to a testamentary trust, those assets are not owned by the beneficiary and do not form part of their estate until distributed to the beneficiary by the trustee. This is the essence of any trust.
These features combined make the TDT particularly useful as a facility to:
1. Protect inheritances from the Trustee in Bankruptcy, or from falling into the property pool divisible with a separated spouse or de facto spouse. (While such risks are imminent the trustee would make minimal distribution to the beleagued beneficiaries).
2. Access tax concessions - a TDT can achieve better tax outcomes than the traditional family trust, as children under 18 years can be assessed at the normal individual rate (the first $6,000 tax free and the balance at normal adult rates). Income tax can be minimized also by distributions being made to other beneficiaries on lower marginal tax rates.
3. Protect spendthrift beneficiaries eg gamblers or drug addicts; and
4. Protect beneficiaries who may be vulnerable to financial exploitation.
Disadvantages of a TDT
1. A TDT requires a greater degree of control compared to say, an absolute gift. Also, periodic recourse to accountants and lawyers is needed, and this involves a cost.
2. For tax purposes, the Will may provide that the primary beneficiary is also the trustee of the trust. This will enable the primary beneficiary to control the trust and still maintainthe flexibility of trust distributions so to maximize incometax concessions.
However, where the beneficiary in effect has power as trustee to distribute the whole of the income and/or capital to themselves, protection against creditors is diminished. As a precaution, there should always be at least two trustees and provision made for when they do not agree.
Similarly, with family law and de facto law property division, if a beneficiary is seen to have sufficient control over the trust property, that trust property will be considered part of the property pool available for division. Ideally, the beneficiary should not be a trustee or appointor. The corollary is that this loss of control of the trust may make the TDT less attractive to a beneficiary.
3. Finding suitable co-trustees can be difficult and can cause further expense where a professional is appointed.
Conclusion
Testamentary Trusts are an important estate planning tool and worthy of consideration by Will makers as an effective way to protect assets and vulnerable beneficiaries and to access certain tax concessions.
Consider a Testamentary TrustDo you wonder what will happen to your assets when you are gone - the
property which you and your spouse have worked so hard to accumulate?
Well, the old adage that you can’t take it with you still applies. However, you
might have more say over what happens than you think.
By Diana Campbell - Solicitor practising in Family Law and Succession Law at Wilson Lawyers
This article is for general information purposes only, it is not a substitute for legal advice.
Make sure yourMake Good isgood enough.A Make Good schedule can make a positive difference to a landlord-tenant relationshipand save both parties thousands.
Businesses looking to Bowen Hills as a cheaper alternative to the
Valley or Newstead, will find it lacking in stock, in part because
most industrial spaces have been converted to commercial use,
are in the process of doing so, or have been resumed to make
way for the North South Bypass Tunnel (NSBT). The result is that
anything coming onto the market has
become quite expensive or soon will
be, though this doesn’t seem to inhibit
many. Highlighting these points, one has
to go no further than industrial sales on
Brook Street, the only road in the area
left untouched by the NSBT, where, for
instance, an industrial property that was
bought three months ago for $675,000,
refurbished to a high standard of office,
then began receiving offers up to $1.2
million. Similarly, 680m2 of adjoining
industrial properties at 29 Brook Street
was sold for $1,942,000 in order to be converted to office/
showroom (a property that was bought for $290,000 some
15 years ago!).
Speaking of the NSBT, while there’s said to be considerable
satisfaction with how the Government is dealing with the project’s
impact on businesses, problems persist about the future of
properties along Campbell Street, which has been closed off at the
centre. Indeed, this impediment is the only thing that explains why
a well presented office complex at 46 Campbell Street has been
“…high leveand scarci
throughout have driveat least 1
6 mon
Property Consultants
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Australian Owned ASX listed (COF)
sitting almost vacant for two years, one that would probably be
snapped up under other circumstances.
Elsewhere in Bowen Hills, one of the few significant bits of
activity has seen a developer pay a benchmark $1,400/m2 for
four industrial properties in a row on the
western side of Burrow Street, opposite
the Mobil service station and fronting
onto Abbotsford Road. The site will be
developed into strata titled commercial
tenancies and should do well.
On that note, the rental market, which is
concentrated around Edmondstone Road,
Thompson Street, Murray Street and the
northern end of Abbotsford Road, has
seen little for lease, and definitely not in
larger sizes. Needless to say, whatever
does become available will be offered
at premium rates, a trend that, if it persists, might endanger the
attractive price differential it has with the Valley.
Industrial sales activity in the usually tightly held but well liked
northside suburbs of Windsor, Herston, Kedron, Enoggera,
Stafford, Kelvin Grove, Newmarket, Alderley, Mitchelton
and Everton Hills has been minimal, with only 5-6 small, largely
overpriced, offerings on the market in the whole area. The one
sale that did occur was, however, a good one, in that a 306m2
l of demand ty of stock this precinct n prices up 0% in just ths…”
19
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Tre
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continued page 21
office/warehouse unit in a 10 year old complex of seven at 36
Windorah Street, Stafford, was bought for a healthy $1,862/m2
within two days after coming onto the market, and to the first of
many enquirers.
Milton also suffered a lack of any significant industrial sales
activity, again, due to a lack of stock. The rental market was
marginally better than its sales counterpart because of a bit more
supply. The pursuit of office space has led to historically low
vacancy, with rates to match.
Wacol, Carole Park, Sumner Park, Seventeen Mile Rocks, Darra, Inala,Oxley, Richlands, Heathwood & Redbank
Sales: John Fiore (0419 123 007)/
Callum Stenson (0411 725 490)
Leasing: Ben Donnelly (0438 643 330)
Wacol saw almost no sales activity over the last six months and
little is anticipated for the near term, as usual due to this popular
suburb’s tightly held nature. It is also suffering from a limited
amount of serviced industrial land, thereby encouraging interest in
larger Future Industry allotments without these services. The result
has been a $40/m2 jump in prices for the latter over the past year,
mostly along Progress Road and Bandara Street, where a transport
company recently paid $100/m2 for
a 1.5 ha parcel, while a landbanker
bought 1 hectare for $140/m2...the
latter an area benchmark.
The rental market has, on the
other hand, been quite vigourous,
a case in point being the take
up of a 5,547m2 site at 3 & 4/29
Industrial Avenue for 5+5 years,
at $105/m2. Indeed, potential tenants enjoy much to choose
from as well, or soon will. Present availability includes four
units from 1,057m2 to 1,513m2 at 38 Westgate Street, each
going for $115/m2; a 3,400m2 office/warehouse with crane at
63 Tile Street and ready for occupancy at $115/m2, while
95 Industrial Avenue has a new freestander with yard on the
market for a competitive $95/m2.
Industrial development of the former Wacol Army site is expected
to start in the next few months, when approval has been received.
Marketing agents have already been appointed and Registrations
of Interest will soon be invited.
Upcoming space will be found in a development at 1274
Boundary Road, which is seeing the construction of five units
from 420m2 to 556m2 and expected to be priced at $160/m2,
while mid year should see two large units come on line at
29 Industrial Avenue at $105/m2. Meanwhile those who need
to rent yard space can find some around Coulson, Tile, Bukulla,
Bandara and Formation Streets.
All 23 allotments in the State Government’s Synergy Industrial
Estate in Carole Park are finally sold out or under contact, with, for
example, 4,500m2 sites achieving up to $245/m2, and those around
“This flurry ofhas also p
substantial leasing oppor
2 ha have been going for up to $214/m2. Under construction is
3,000m2 of warehouse space at 146 Mica Street, which is on the
market for a fair $1,500/m2 and should be ready mid year, while a
well exposed 4,400m2 warehouse facility at 47 Boundary Road is
nearing completion and available for $6.75 million.
Leasing activity has also been strong, one example being the
takeup of a 2,000m2 building on 9,000m2 of yard at 67 Boundary
Road. A wide range of property for lease can be found for between
$110/m2 and $130/m2 at 60 Mica Street, 45-47 Boundary Road,
140 Mica Street, 146 Mica Street and lots 8 & 9 Krypton Court,
however none of these sites offer smaller units.
Sumner has only a limited supply of land or vacant buildings for
sale, either old or new, with one of the few transactions to take
place being the $285/m2 paid by a developer for a 4,000m2 parcel
with development approval.
Those looking to rent will find that 4 architecturally designed
units of 311m2 each in a 5 unit complex at 99 Wolston Road are
available for $122/m2 and should be taken up in short order, while
up the way, a new freestanding 2,970m2 office/warehouse at
67 Wolston Road can be tenanted for $100/m2. Nearby, a handful
of smaller units from 64m2 are waiting to be leased.
Rental activity here has been reasonably strong and includes the takeup
of unit at 87 Jijaws Street, two units a
20 Jijaws Street, while a freestander was
leased at Neon Street, all in sizes from
64m2 to 804m2 and rates from $85/m2
to $187.50/m2.
Meanwhile, construction of a site at
Forge Close, fronting the Centenary
Highway, is awaiting a precommitment
from 5,000m2 to 15,000m2.
Although Seventeen Mile Rocks is still very tightly held and, as a
result, has seen no sales activity, there were some leases that took
place, including those for mid sized units at 19 Hasp Street, 21
Staple Street and 500 Seventeen Mile Rocks Road. Unfortunately,
this absorption has left very little other space for rent, a shortfall
that won’t improve any time soon.
Darra’s steep land prices have forced developers of industrial stock
to concentrate on strata titled and investment units because of
their higher profitability. To this end, there are at least four projects
nearing completion, together providing 50 more spaces from
150m2 to 600m2 and priced at $1,750/m2 to $2,150/m2. Later in
the year another development is also expected to commence at
Acanthus Street and provide 26 units.
This flurry of construction has also provided a substantial increase
in leasing opportunities, for example, a development at 38
Limestone Street is offering 18 units from 143m2 to 656m2, while
units between 331m2 and 446m2 can be found in a complex of 8
at 35 Limestone Street. In addition, there are 10 units now for rent
at 43 Station Avenue in sizes from 172m2 to 302m2. Rates for the
Needless to say, with all this availability and shortages elsewhere,
leasing activity has been good, examples being the quick takeup
of a 684m2 unit at 35 Limestone Street as well as one of 560m2 at
8 Machinery Street, each for $137/m2 and $110/m2, respectively.
The rental market for freestanders has fared less well due to a
lack of stock, with one of the few transactions taking place at 57
Machinery Street, where a 2,601m2 office/warehouse was rented
for 5+5 years at $115/m2. This shortfall doesn’t mean that nothing
is available, however as can be seen on Monier Road, Clinker Street
and Ipswich Road, spaces exist from 2,388m2 to 3,422m2, and at
reasonable rates.
Meanwhile, in the neighbouring suburb of Inala, Australand has
secured 6 ha of Future Industry land at the corner of Flint Street
and Boundary Road, and is considering its options.
Oxley remains very tightly held with little no property for sale,
while the only space up for lease is a
freestanding 609m2 office/warehouse at
16 Blivest Street, which can be occupied
for $105/m2.
A shortage of smaller industrial units
for sale or rent in Richlands to the
east of Ipswich Road prompted the
Greenmort Development Group to
construct a quality 27 unit complex at
315 Archerfield Road, featuring sizes
from 120m2 to 519m2 at competitive prices from $1,520/m2, or
between $114/m2 and $160/m2 if leased.
Meanwhile, a freestanding 5,061m2 office/warehouse is for lease at 24
Westlink Place, while there’s some Future Industry parcels in the area
that are ripe for development, with asking prices up to $250/m2.
Recent lease activity has been strong and include a 334m2 unit at
Boundary Road, as well as a 1,257m2 freestander at 29 Archimedes
Place. Rates were $100/m2 and $95/m2,respectively.
Heathwood is seeing plenty of new freestanding rental stock
coming on line, particularly along Moreton and Stradbroke Streets,
where prospective tenants can find office/warehouses in sizes from
1,238m2 to 4,080m2, at rates between $98/m2 and $125/m2.
Numerous precommitment opportunities also exist in the suburb.
Recent lease transactions include a 6,000m2 facility at 91 Stradbroke
Street, which was signed up for 5+5 years at $100/m2, while a
1,680m2 building was rented for 6+6 years at $102/m2. Needless
to say their particularly long terms reflect an awareness that rates
will only get a lot dearer.
The large site at the corner of Stradbroke and Moreton Streets has
reportedly been precommited on a long lease, with details not yet
available for publication.
While Rumrose P/L’s successful 15 lot Redbank Industrial Estate
has seen most of its land sold to owner/occupiers, the developer
still retains some 4,000m2 parcels for precommitment uses and
currently has on offer two 600m2 units for sale at $1,500m2, or
$85/m2 to $90/m2 if leased. The proposed $2.3 billion Goodna
Bypass will have a high impact on the estate, as it is to run right
through it, with an on/off ramp on the remainder. As has been
“…rising exwrought by th
and the preof a more fflush demo
o Property Consultants
widely reported, there is still some question on whether this project
will go ahead since it’s not the preferred option of the Brisbane
City Council, including the Lord Mayor, the State Government, the
Federal Opposition and even some Coalition politicians, both State
and Federal, all of whom want a $1.2 billion widening/upgrading
of the present Ipswich Motorway between Dinmore and Goodna.
Underwood, Slacks Creek, Springwood, Woodridge, Kingston, Loganholme, Shailer Park, Meadowbrook & the Yatala Enterprise Area (Yatala, Stapylton,Ormeau)
Sales: Paul Dugan (0403 945 098)/
Myles Clentsmith (0421 957 818)
Leasing: Patrick Kerruish (0422 702 504)/
Nathan Butler (0403 235 173)
Underwood remains tightly held
for most types of saleable industrial
stock, particularly smaller freestanders
or secondary, and anything that comes
onto the market tends to be snapped
up at record prices, one example being
the benchmark $1,585/m2 paid for a
474m2 building on 1,012m2 of GI land at
37 Darnick Street.
pectations e new Ikea sumption nancially graphic.”
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continued page 23
That being said, there are a couple of 250m2 units for sale in
a new development at 8-12 Neville Street, while a prospective
tenant might want to look at the 4,000m2 office/warehouse on
8,000m2 of land at 120 Compton Road, which is available for
around $500,000 pa.
Nearby, Slacks Creek is suffering a shortfall of building stock, and
for the same reason as Underwood: not many vendors want to sell.
There are a few new units available in the Platinum Business Park
on Maunder Street behind Motorama, where office/warehouses
from 200m2 to 500m2 are going for approximately $1,600/m2.
Those needing a rare freestander with crane might want to check
out a 613m2 building on 1,012m2 of GI land at 9 Brennan Street,
one that is going to auction and
should generate much interest.
Investors might want to take a look
at a fully let 670m2 standalone at
10 Monte Street, which is on the
market for around $880,000 and
will generate $66,413 pa nett for a
new owner. Located in a very closely
held neighbourhood, this hard to
find offering is expected to be picked
up quickly.
As might be expected, some vendor
reluctance to sell and the high prices they want to achieve
when anything is on the market, can be attributed to the rising
expectations wrought by the new Ikea and the presumption of a
more financially flush demographic.
Springwood, which is largely a commercial precinct, hasn’t
seen many sales but enjoyed premium prices for the few that did
transpire. Examples include a 91m2 strata titled office at 6 Vanessa
Boulevard, which sold as an investment for a hefty price.
There are only a couple of vacant smaller units presently on the
market here and no more are expected to come on line in the
near future.
Sales in Woodridge have mostly occurred along North Road,
where, for example, two smaller units achieved $207,000. Also on
North Road, two other units are ready to be sold, but may be slow
in being picked up due to their high office component...a handicap
in an area where 90% of the owner/occupiers are manufacturers
or warehouse users.
Possibly one of the biggest sales in Kingston recently came about
when Watpac, at least according to rumours, paid Europark
Kingston P/L $12.85 million for 7.59 ha of GI land at Mudgee
Street, which it’s believed will be subdivided for precommitment or
unit development use.
All the vacant land has been sold in Loganholme’s Cornerstone
Properties development, a FA Pidgeon & Sons effort in the triangle
formed out of Burchill,Henry and Chetwynd Streets. It’s said to
have provided parcels between 2,000m2 and 4,000m2, each going
for $300/m2 to $400/m2, depending on exposure to the nearby
Pacific Motorway.
“…anything the market a
will be taken ueveryone kno$100/m2 more
months t
Meanwhile, six units remain for sale or lease in a complex on
Riverlands Drive, while 3 out of 16 are left elsewhere on the same
street, also for sale or lease. As to the near future, a large complex
is under construction at Cairns Street and starting to sell units from
150m2 to 600m2, for around $1,800/m2 to $1,900/m2. These consist
of 47 units offered in three stages, many having a high commercial
component, an architectural design and professional landscaping.
It should be noted that while takeup by investors has been strong,
some of them are finding intense competition for tenants since the
latter have so much stock from which to choose due to a recent
building spree.
Meadowbrook has seen a number of land sales as well as the
commencement of building activity in
their new subdivisions. These include a
1,600m2 freestander at a Ellerslie and
Meakin Roads site, while a 1,090m2
freestander is going up at Meakin
Road, both of them splitable and ready
for occupation in July.
Also available in July, will be a 1,660m2
freestander at Blue Eagle Drive, which
is under construction and listed for
$2.84 million, or $125/m2 if leased.
This is one of a number of buildings,
both freestanding and strata titled,
that are going up in the area.
Units from 200m2 to 400m2 in the Campus Business Park on
University Road are coming on line for around $125/m2 and should
be attractive to bulky retailers.
It’s hoped that the next year or two will see additional building
activity on a large parcel of Future Development land along Meakin
Road to its west.
26 units in the Hyperdome Technology Park at 18 Commercial
Drive, Shailer Park, are under construction and should be ready
for sale or lease in 6-8 months, at prices yet to be determined. On
offer will be Light Industry units from 110m2 to 198m2, and retail
showrooms between 271m2 and 517m2.
In the Yatala Enterprise Area (YEA), which comprises Yatala,
Ormeau and Stapylton, there’s not a lot of larger industrial stock
for sale, though units are in abundance. Land is hard to find under
$300/m2, however anything coming onto the market at this price
will be taken up quickly as everyone knows it will be $100/m2 more
dear in 6-8 months time, and is already definitely less expensive
than equivalent offerings closer to Brisbane or the Gold Coast.
Sales over the last six months include the $300/m2 paid for parcels
of land from 2,000m2 to 10,000m2 in the Stanmore Industrial Park,
which subsequently saw the construction of small spec units and
freestanders, some for lease at $110/m2 to $120/m2, while the 53
lot Access Business Park on Stanmore Road has seen all but 8 blocks
sold for precommitment and spec use. Also in Access, an upsizing
Amerind Forest Products paid $5.7 million for a 5,000m2 office/
warehouse on 10,310m2 of GI zoned land at 47 Business Street.
look elsewhere. They also must be willing to put up with traffic
bottlenecks around, for example, Kingsford Smith Drive, until the
duplicate Gateway Bridge, NSBT and Airport Link are completed in
2011, 2010 and 2012, respectively.
Pinkenba, has seen a number of land
sales, including a two hectare lot on
Main Beach Road that was reportedly
purchased for a benchmark $150/m2.
Other large sites have sold as well over
the last 12 months, but for $90/m2 to
$110/m2 due to their lack of servicing. The
next six months should see a couple more
blocks come onto the market but since
they only have electricity and water but no
sewerage or stormwater drains will only
be available as storage yard. It’s assumed
that all of these lots are being land banked
by their new owners for development in
10 years, though this horizon might shorten as infrastructure is built for
Trade Coast Central and the south side of the airport.
The rental market has been getting stronger as prospective tenants
begin to realise that Pinkenba is not so far away after all and, in
fact, it’s become increasingly necessary to pre-commit. The next
two years should see a massive jump in activity, though this will
also bring with it an equally steep rise in rates.
West End, South Brisbane, East Brisbane, Woolloongabba & Coorparoo
Sales: Callum Stenson (0411 725 490)/
Jane Turnbull (0409 711 559
Leasing: Rob Finlay (0411 747 165)
While the West End has been undergoing quite a bit of sales
activity for industrial property, almost everything bought was for
its commercial redevelopment potential, in part because the smart
money coming into this precinct seems to be taking a breather
from residential conversions, a la Robertson Street in the Valley.
A prime example is the 660m2 office/warehouse with carparking
at 236 Montague Road, which was bought for $1.2 million and
is presently being turned into two storey, top quality office space.
When completed it will be available at $280/m2 net plus GST, a
rate significantly higher than the owner could have received from
an industrial tenancy, and the only way the purchase prices being
achieved can be justified. Similarly, a 470m2 industrial unit with 8
car parks at 3/31 Anthony Street, at the corner of Buchanan Street,
was sold in a matter of days for $2,500/m2.
A parallel trend is seeing smaller industrial stock being converted
into showrooms or quasi retail in order to better service the new
demographic. For some of these, however, this might be only a
momentary change of use as it’s expected that a number of them
will become residential.
Despite reasonable rental rates that can still be found for larger
industrial properties, many businesses are moving into the new city
fringe suburbs of Salisbury, Eagle Farm and Morningside due to
“… a rate sihigher than
could have rean industriaand the onlpurchase pr
achieved can
Property Consultants
increasingly problematic truck access, parking issues and residential
encroachment. Needless to say this influx is pushing up land values
in the receiving areas as well.
The next half year will see a continued
high demand for commercial space to
own or rent, meaning now might be
a good time to check out the market
before all this attention drives prices
up even further...and possibly out of
one’s reach
South Brisbane saw very few industrial
or commercial property for sale because
much of this suburb’s stock is being
closely held by large investor groups for
their longer term residential potential.
There wasn’t much for rent either and
not much to come. In fact there’s only
285m2 of space at 78 Tribune Street, which features half office,
half warehouse, and a 450m2, older style office/warehouse on
Cordelia Street.
The Hale Street Bridge should have a significant impact on
properties in the area, particularly around Merivale Street, either in
terms of resumption, construction or when it comes on line, with
the most immediate effect being a reduction of industrial stock.
gnificantly the owner ceived from l tenancy, y way the ices being e justified.”
25
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Sales or rental activity in Woolloongabba is mostly about the North
South Bypass Tunnel (NSBT) and the uncertainty regarding its impact
on development, a situation. that has lessened demand considerably.
On the other hand, all resumptions have now taken place, therefore
allowing most of the businesses impacted to find alternate quarters
to rent or buy within the suburb or adjacent to it.
An overlapping focus of attention is the Draft Woolloongabba Local
Area Plan, which will, when gazetted, allow up to 20 storeys in
certain pockets of the suburb, at least if the building involved is on
at least 2,000m2 of land, or as many as 6-8 storeys in other pockets.
It’s expected the Plan will also have the effect of concentrating
light industrial and service trade activity into an area encompassing
Turbo Drive, Atherton Street and 2/3 of Deshon Street, which is to
contain MIBA and residential on the
remaining 1/3.
The prospect of making a good profit
once development is given the green
light has attracted a large number of
astute “players” willing to sign expensive
long term contracts for anything with
good potential. Unfortunately, there’s a
worry that too many of those showing
interest are amateurs and open to
being burned, especially if they’re not
conversant with issues like 6:1 plot ratios or are not capitalised
enough to sit on a property for the required amount of time.
Meanwhile, there are considerations like the placement of the
NSBT exhaust stack, uncertainty around the development of
Woolloongabba’s Central Core and its impact on surrounding
values, what will be happening at the long vacant 49 Logan
Road, the impact of Gabba Central (and the Coles it comprises)
on traffic congestion, the same for the mooted redevelopment
of the 5 ha GoPrint/Land Centre site into an athletics village,
complete with a track, training field, square, 530 apartments and
a busway station. It’s within an area bordered by Main, Vulture,
Stanley and Leopold Streets.
Industrial property for sale in East Brisbane remains in high
demand, for example the vendor of an 800m2 office/warehouse
at 187 Wellington Road garnered 5 offers within days of coming
on to the market, and received a near benchmark $2.1 from
an owner/occupier mindful of its investment potential. There’s
also much interest for rental stock, though with a high office
component, eg the $160/m2 achieved for a 285m2 office/
warehouse with 2/3 office.
As this area also becomes more upmarket, there will probably
be a migration of traditional industrial users to more outlying
suburbs once leases expire or prices on offer become just too
good to refuse.
Coorparoo, which has seen some disruption because of the
Eastern Busway, is tightly held and saw no recent sales. It’s “dirtier”
businesses are expected to move to more appropriate areas as
well. Meanwhile, land values have gone up, in large part due to
the increased perception of Coorparoo as a near City alternative.
Indeed, it’s a “sleeper” often overlooked by those unfamiliar with
its proximity, amenity and competitive rates.
“…it’s a “sloverlookeunfamilia
proximity, acompetiti
Ipswich
Sales: Warwick Edge (0412 179 472)
Leasing: Warwick Edge (0412 179 472)
The Ipswich CBD is in a major growth phase, as can be seen by Leda’s nearly completed Riverlink retail development on the northside of the Bremer River. Meanwhile, a new retail/warehouse complex is proposed for a 4 ha site in Brisbane Street.
Other significant activity in the Ipswich City catchment includes the expansion of the wastewater treatment plant at Bundamba, the construction of the Yamanto/Redbank Plains section of the transport corridor and the proposed rail link through Yamanto,
Churchill and West Ipswich, linking to the existing Brisbane Line. There’s also expansion of the Amberley RAAF base involving an additional 780 Defence personnel, which includes the purchase of an 800 block subdivision nearby for housing. Also, Boeing Australia Aerospace, an anchor tenant in the Government developed Ipswich Aerospace Park, is mooted to share the Park with several smaller companies.
Those looking to locate here can soon find space in Walker Corporation’s Bremer Business Park, a 335 ha master planned estate at the junction of the Ipswich Motorway, Warrego Highway and the Cunningham Highway, which will soon be able to provide industrial blocks between 7,000m2 to 86,000m2 in its stages 1A and 1 B.
In addition, several estates in the 6 ha to 14 ha range are planned for more outlying areas like Raceview and Swanbank. They should come on line later this year and are expected to accommodate smaller users requiring land from from 1,500m2 to 4,000m2.
In the Swanbank Enterprise Park, Swanbank Paper and Boulder Steel have precommited to large spaces and will be capitalising their sites with $1.26 billion and $750 million, respectively.
Increasing industrial land prices around Brisbane, as well as along the Brisbane to Gold Coast corridor, is putting upward pressure on land costs in Ipswich and surrounding suburbs. However, in some pockets parcels can still be purchased for 50% of what’s being achieved in the established industrial areas around Brisbane.
The rental market can also offer substantial discounts when compared to equivalent industrial stock closer to Brisbane.
While the Ipswich area can presently provide significant development opportunities and economic advantages, once these benefits are recognised more widely the margin of difference will tighten.
It’s equally, a good idea to factor in the positive impact of the Springfield master planned community, which will not only give the whole precinct an economic boost through the likes of its Orion Shopping Centre and Education complex but can sustain a nearly indefinite stream of workers for the new businesses moving into the area or are expanding.
On that note, road work has commenced on the Southwest Transport Corridor, which is reportedly to be reaching White Rock about 6km to 7 km west of Springfield. ■
DECEPTION BAY: In 1823, Lt Oxley took this bay for a river
because it was so shallow, and called it Pumice Stone River.
DINMORE: Suburb name derived from railway station name given
in 1884 by Railways Department, using the name of a locality in
Herefordshire, England.
DOBOY: Derived from Doboy Creek, once the name for Bulimba
Creek, named by James Warner (1814-1891) surveyor, around
1840, using the Yuggera language, Yugarabul dialect word
“dube” indicating mud crab. The name Moreill Creek had been
used in 1839 by Robert Dixon (1800-1858) surveyor, for the same
creek. Railways Department named the station Doboy on 31 May
1929, renaming it from Buruda (1889-1929).
DUTTON PARK: Dutton Park as a suburb name came into use
around 1910, when an estate of that name was opened near the
municipal Dutton Park. The park was named in 1884 after Charles
Boydell Dutton (1834-1904) pastoralist and politician, who was
Secretary for Public Lands 1883-87.
EAGLEBY: Reportedly the name derived from an Aboriginal
informant giving the meaning in conversation “eagle be ‘motchya’”
indicating the site of an eagle’s nest. This description became
shortened to “eagle be” then Eagleby. (European informant John
George Appel (1859-1929) lawyer, farmer and politician).
EAGLE FARM: Eagle Farm appears as a name in 1839, identifying
a cultivation area in the convict period. Presumably the name was
derived from the presence of wedge tailed eagles in the area.
Property Consultants
EBENEZER: The Ebenezer Methodist Church was built here and
the school and locality took their name from the church. Ebenezer
is a Hebrew word meaning ‘Rock of Faith’.
EIGHT MILE PLAINS: Name probably derives from coaching stop
on route 1869-1885 Brisbane to Southport, the stop was more
likely to have been a watering stop rather than a horse change.
ENOGGERA: Derived from Yuggera language, Yugarabul dialect
word “yauar-ngari” indicating corroboree ground.
FAIRFIELD: Name probably derived from a property name
“Fairfield”, used by S. Grimes and G. Grimes, possibly taken from
English place name.
FISHERMAN ISLANDS: Named the Concealment Islands by John
Oxley (1785-1828) Surveyor-General, in December 1823, Robert
Dixon (1800-1858) surveyor, charted them as Fisherman Islands
in 1839-40, apparently in the mistaken belief that they were so
named by Lieutenant Matthew Flinders RN (1774-1814) navigator,
hydrographer and scientist, HM Colonial Sloop Norfolk, in July
1799. (Shown as both Island and Islands but now incorporated in
the Port of Brisbane development)
FORTITUDE VALLEY: Named after immigrant sailing vessel
Fortitude, one of three vessels chartered by John Dunmore Lang
(1799-1878) clergyman and politician, to carry free immigrants
from Scotland to Moreton Bay in 1849.
29
30
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How
did
the
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eir
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es
continued page 31
GAILES: Suburb name derived from Gailes Railway Station, which
was named by Railways Department 16 September 1925, renamed
from Dingo Hill, after the nearby Gailes Golf Club. This Club
name was given by Doctor Henry Byan Ellerton,Superintendent of
Goodna Asylum, in the early 1920s, after the Western Gailes Golf
Course in Ayrshire, Scotland, near the birthplace of his wife. Gailes
is reported to indicate “overgrown by bog-myrth”.
GEEBUNG: Name and boundaries approved by Queensland Place
Names Board 11 August 1975. Geebung takes its name from
a railway station (named presumably in 1888), using a word
indicating the fruit of the plant Persoonia media, an Aboriginal
word probably originating in the plant name “jibung” from the
Dharuk language, Sydney NSW area.
HAMILTON: The suburb name derives from the name of a hotel
built in the 1870s, by Gustavus Hamilton, solicitor, of Toowoomba.
HAWTHORNE: Named around 1875 after William Baynes (1833-
1898) butcher and speculator, who purchased the area from Pollett
Cardew (c.1817-1900) pastoralist and magistrate, in 1875. Baynes had
lived in Hawthorn (Melbourne) before coming to Queensland in 1859.
HEATHWOOD: Reportedly derived from the name of Heathwood,
a pioneer European settler.
HEMMANT: Originally a farming settlement, the area was named
around 1876, after William Hemmant (1838-1916) draper, politician
and Agent-General, Colonial Treasurer 1874-76.
HENDRA: Suburb name derived from railway station name first
used in 1882, probably given by Francis Curnow (1840-1901)
Railways Commissioner 1885-89, using a traditional Cornish place
name, reportedly indicating an ancient or old hamlet or town.
HERSTON: Artificial name compounded from the surnames of
Robert George Wyndham Herbert (1831-1905) politician and public
servant, first Premier of Queensland as Colonial Secretary 1859-66,
and of John Bramston (1832-1921) politician and public servant,
who built and shared a house in the area called “Herston House”.
HILLCREST: Developer’s name.
INDOOROOPILLY: Name is a corrupted derivation of nyindurupilli,
Yuggera language, Yugarabul dialect, indicating gully with leeches.
Alternatively, the word yindurupilly could indicate running water.
IPSWICH: Originally Limestone from 1827, Ipswich was the town
name approved by Sir George Gipps (1791-1847) soldier and
Governor of New South Wales 1837-46. Gipps approved the plan
submitted by Henry Wade, surveyor, in 1843, showing the name
Ipswich. The name belongs to a town in Suffolk, England, which is
located at the mouth of the Orwell River. Possibly Ipswich derives
from Old English gip indicating mouth, and wic indicating farm.
Gipeswic appears in an Anglo-Saxon Chronicle of 993 A.D. Possibly
Gipps’ sense of humour prompted him to include a reference to his
own name in the Australian town name.
JIMBOOMBA: Reportedly derived from Aboriginal words,
Bundjalung language, Yugumbir dialect, dhim indicating end and
boom indicating sound, ba place, interpreted as echo. Alternatively
could be jaboom eidble grub and ba place.
KALLANGUR: Possibly derived from Kabi language indicating good.
KARRABIN: Karrabin appears to be a Bundjalung language, Ngaraangbal dialect, word (Southport area) indicating currabin or karrabin (red gum).
KEDRON: Derived from the name of Kedron Brook, which was named by Gossner Missionaries at Zions Hill (Nundah) in March 1838, after the Biblical stream near Jerusalem.
KINGSTON: Originally a township name, named after Charles Kingston and his wife Harriet residents late nineteenth century
KURWONGBAH: Reportedly derived from Kabi language, Undanbi dialect, name for present Sideling Creek.
LARAPINTA: Reportedly an Aboriginal word, language and dialect not accurately recorded (but not local) indicating either flowing water or flat country.
LINDUM: Named derived from the name of a residence built by Edward Kelk (1850-1921) ironmonger, who used the Roman name for Lincoln, England. Originally used as a railway station name from 1899. Neighbourhood status within Wynnum West approved by Queensland Place Names Board 11 August 1975.
LOGANHOLME: Name derived from the naming of the Logan River in 1827 by Sir Ralph Darling (1772-1858) Governor of New South Wales 1824-31, after Captain Patrick Logan (1791-1830) soldier and Commandant, Moreton Bay Settlement 1825-30.
LYTTON: The name was probably suggested originally as a port name by Sir George Ferguson Bowen (1821-1899), in 1859-60, after Edward George Earle Bulwer Lytton (1803-1873) politician, novelist, poet and critic, Secretary of State for the Colonies 1858-59.
MANSFIELD: Named after Sir Alan James Mansfield (1902-1980?), Governor of Queensland 1966-72, Chancellor of the University of Queensland 1966-76, Chief Justice of Queensland 1956-66. Sir Alan once lived in the Mt Gravatt area.
MARSDEN: Named after Violet Marsden member of a pioneer family, associated with the Kingston Park and Districts Progress Association.
MEADOWBROOK: Suburb named and bounded by Governor in Council 31 August 1991.
MILTON: Name derived from farm name Milton Farm used from late 1840s by Ambrose Eldridge chemist. Eldridge named the farm after John Milton, English poet.
MITCHELTON: Name derived from Nicholas Mitchell farmer, who subdivided Portion 36, Parish of Enoggera, around 1894, having purchased it freehold 30 January 1875.
MOOROOKA: Possibly derived from Kabi language word (not in Kabi area) muru indicating nose. Alternative meaning is connected with the iron bark tree Eucalyptus species). Formerly known as Rocky Water Holes.
MORAYFIELD: Derived from sugar plantation name (1868) first used by George Raff (1815 - 1889) merchant, sugar grower and politician, and also from use as station name by Railways Department, June 1888. Raff was born at Forres, Morayshire, Scotland.
MORNINGSIDE: Probably the name was derived from an estate name, which could have been linked with the Scottish town name, or alternatively could have been named because the estate was on the “morning” or eastern side of Brisbane.
Except where otherwise noted, King’s Counsel is written, edited, and compiled by Tom Richman BA, MA, MPhil, (Oxon).
The King’s Counsel is published by King & Co Property Consultants Pty Ltd, 99 Annerley Road, Woolloongabba, 4102. Telephone (07) 3844 3222. Facsimile (07) 3844 9888. It is a fully owned subsidiary of Viking Industries Ltd.
While data has been compiled from reliable sources and all care has been taken to ensure its accuracy, readers should not act solely on the basis of the information contained herein. King & Co Property Consultants recommends formal advice be sought beforehand.
All or any part of King’s Counsel may only be used with the permission of King & Co Property Consultants.
The views provided by this issue’s guest commentators are meant to stimulate public debate and do not neccesarily reflect the opinions of King and Co Property Consultants.
continued from page 30
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MURARRIE: Suburb name derived from railway station name, originally Moorarie, reportedly derived in turn from Yuggera language, Yugarabul dialect, mudherri indicating muddy or sticky.
NARANGBA: Derived from railway station and town name, probably first used by Railways Department mid-1888, reportedly an Aboriginal word, Yuggera language, Turrbal dialect, North Pine clan, indicating small place.
NERANG: Derived from town and river name, the latter from Bundjalung language, Ngaraangbal variant, words which indicate either small river, or shovel nosed shark, latter from neerung or neerang.
NEW CHUM: Named after the New Chum mine as most of the residents were mine employees.
NEWMARKET: Name came into common use when Brisbane saleyards were moved from Normanby to Newmarket ca.1880. Railway station was named Newmarket in 1899. Saleyards closed 1931. Area of suburb originally called Three Mile Scrub.
NEWSTEAD: Name derived from Newstead House, built and named by Patrick Leslie (1815-1881) grazier and pioneer, in 1846, taking the name from Newstead Abbey, Nottinghamshire, England.
NORTHGATE: Derived from railway station name used by Railways Department from 1890, being a manufactured word from North Coast Line and Sandgate, originally called North Coast Junction.
NUDGEE: Derived from locality and railway station name, latter in use from 11 May 1888, derived as a corruption by Europeans of nardha, then nedgee, an Aboriginal word, Yuggera language, Yugarabul dialect, indicating place of ducks, from nar=duck and dha=place.
NUNDAH: Nundah is a corruption of nanda, an Aboriginal word, Yuggera language, Turrbal dialect, indicating chain of waterholes.
ORMEAU: Derived from township name, which probably comes
from a property name used from 1871 on a sugar plantation
established by William Alexander Jenyns Boyd (1842-1928)
agricultural journalist, teacher and soldier. Boyd’s first wife, Isabella
nee Dawson, was born at Ormeau Road, Belfast, Ulster. Ormeau is
supposed to translate from French as young elm tree.
OXLEY: Derived from Oxley Creek which was named after John
Oxley (1785-1828) NSW Surveyor-General, who led the first
European examination of the Brisbane River in 1823.
PARK RIDGE: Name used locally from late nineteenth century, derived
from the park like appearance of the newly cleared country.
PETRIE: Derived from Railway Station name used from 7 July
1911 (renamed from North Pine), after Thomas Petrie (1831-1910)
explorer and grazier, who resided in the area.
PINKENBA: Derived from railway station name used from 1
September 1897, a corruption of a Yuggera language word,
Turrbal dialect, binkinba, indicating place of tortoises, actually
relating to the area now known as New Farm.
PURGA: Railway station opened in 1882 named after surrounding
parish which was derived from the Aboriginal word ‘pur-pur’
meaning a meeting place, language and dialect unknown..
RACEVIEW: The old Grange Racecourse was in this area, with
its entrance at the end of Grange Road. The racecourse was later
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shifted to Bundamba. In convict days, this area was a farm called
the Plough Station.
REDBANK: So called by Major Lockyer while exploring by boat up
the Brisbane River.
REDCLIFFE: Name of city originated with the naming in 1799
of Red Cliff Point by Lieutenant Matthew Flinders (1774-1814).
Humpybong and Red Cliff were used as names in the penal period
1824-25, though John Oxley (1785-1828) NSW Surveyor General
used both Red Cliff and Redcliff. The “e” appears to have been
added in local usage around 1878.
RICHLANDS: Name derived probably as a descriptive term for
what was a flower and vegetable growing area from 1920s.
ROCHEDALE: Named after Thomas Roche who settled in the area
as a vine and fruit grower in the 1870s. The name appears to have
been used from the 1880s.
ROCKLEA: Name originally derived from Rocky Waterholes Creek,
with the addition of lea=uncultivated field (Old English). Name
and boundaries approved by Queensland Place Names Board 11
August 1975 . Boundaries amended by Governor in Council 27
March 1992, with creation of new suburb of Tennyson.
RUNCORN: Reportedly named after a development estate, which
used an English town name, birthplace of Reverend J. McLaren, a
local clergyman.
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