IN this latest episode of Australian Property Journal’s Talking Property, APJ’s Nelson Yap talks to Tony Crabb, National Director of Research at Cushman & Wakefield, about the industrial property market.
- Industrial is the darling of the market and underlying demand will continue to increase, underpinned by e-commerce, food storage, manufacturing, last mile logistics, and now data centres.
- Last mile logistics is helping retailers keep costs down. Myer and David Jones freed up 100,000 sqm of warehouse space within shopping centres, saving them tens of million of dollars in rent every year.
- What is the next stage of evolution for industrial?
- Onshoring or reshoring trend is also emerging as companies look to minimise global supply chain disruptions.
- Will 3D printing see a revival of Australian manufacturing? A smarter, green and lean industry “prints” products locally on-demand rather than in the hope that somebody will buy the goods, eliminating materials wastage due to overproduction, reducing storage and transport costs, all of which will lower the cost of goods for consumers.
- Industrial land is running out in the major cities, and it is becoming a particular concern in Sydney, will south east Queensland become a hub to service Sydney’s industrial needs?