Industrial Lifestyle Precincts Drive Demand
Stand aside school catchments and easy water access. According to experts at Australia's largest independent property valuation firm, the newest driver of residential demand is... industrial.
Chris McKillop, a commercial director at Herron Todd White, said the emergence of 'Lifestyle Industrial' is changing the face of sought-after residential markets across the country, with the phenomenon creating a prime opportunity for homeowners and investors.
"Lifestyle industrial sees sheds moving away from their traditional use for businesses like smash repair shops, spray painters and steel fabricators, and toward more resident-friendly operations such as microbreweries, high-quality restaurants, cafes, hairdressers and florists. Some have even become live music venues fronting retail clothing outlets, gyms and sporting venues," he said.
Mr McKillop said that lifestyle industrial had flipped the property game on its head for both homeowners and investors.
Historically, being near industrial property was an absolute no-go for residents, with claims of noise, smell and heavy-use activity being a turn-off.
"But these new precincts are now being embraced by residents, the flow on benefits for their property values – some are
even choosing to live within the industrial hubs themselves."
