Prepared for growth

Townsville’s mantle as the capital of Northern Australia is driving a surge in activity across the city’s industrial and large format retail sectors, according to one of the city’s leading commercial realtors. Neville Smith, who has joined national agency Burgess Rawson as part of its expanding Queensland team, said Townsville’s future as a powerhouse for commercial investment was  compelling.

“As a city of 200,000 we pack real punch, drawing on a regional catchment of more than 800,000 and access to nationally significant air, road and port logistics,” Mr Smith said.

“This of course is tied very closely to the region’s diverse economic drivers, which spans mining, agriculture, health, education, and the largest defence force base in the country.

“Large format retailers are upsizing and repositioning for the growth that’s to come and major industrial and distribution precincts will develop in the short term, supporting the entire region’s future.

“Industrial, government, large format retail and medical assets are currently a key focus of investment groups, and other essential assets such as childcare, fuel and fast food remain highly valued and will become increasingly so.”

Burgess Rawson Chief Executive Ingrid Filmer said their decision to expand into Townsville was a strategic one and recognised the city’s significant role as the economic gateway to Asia and Northern Australia.

“Neville has been a trusted advisor and industry leader for almost two decades and with his insights, networks and reputation, we are well placed to build a high-performing team based in Townsville that complements our growing Queensland presence,” Ms Filmer said.

Mr Smith has been involved in some of the region’s largest commercial sales and leasing deals, including Castlerock’s $145m portfolio acquisitions in Mackay and Townsville – recognised as one of the largest office transactions ever achieved outside of Brisbane. He has also completed the successful negotiation of various large-scale leases, including the delivery of the new Dairy Farmers (now Bega) North Queensland Distribution Centre in Townsville. In his new role with Burgess Rawson Mr Smith will service clients from Cairns to Rockhampton.