Direct Commercial Property (DCP) has entered a joint venture with Centennial and contracted to acquire an 8.3-hectare industrial site at 45–65 Smith Drive, Ballina for $22 million.
To be known as Gateway Business Hub, the project is planned to deliver 18 serviced, benched industrial lots across two stages, with freehold lots ranging from 1,500 to 15,000 sqm.
The site is the largest contiguous industrial-zoned landholding across the Ballina and Byron shires. Located approximately 600 metres from the Pacific Highway and Teven Interchange, it offers access to major freight routes connecting the NSW North Coast with South East Queensland.
Meeting demand for industrial land
Gateway Business Hub will provide development-ready industrial land for businesses seeking to establish or expand on the NSW North Coast.
The joint venture partners identified an opportunity to address constrained supply in a region benefiting from population growth, infrastructure investment and its connection to South East Queensland. The proposed lot sizes will accommodate a range of industrial requirements under the site’s E4 General Industrial zoning.
DCP Managing Director Ed Bull said the project’s appeal extended beyond Ballina.
“The fundamentals that attracted us to this opportunity extend beyond Ballina. The NSW North Coast is benefiting from population growth, infrastructure investment and its strategic connection to South East Queensland, while the supply of well-located, development-ready industrial land remains constrained.”
An active role in project delivery
The joint venture combines Centennial’s institutional property investment and development expertise with DCP’s industrial property experience across Queensland and New South Wales.
As joint venture partner and asset manager, DCP will be actively involved throughout delivery, including the positioning, sales and marketing of the subdivision. DCP will work closely with Centennial and the appointed agents to ensure the project responds to market demand and the requirements of future purchasers.
Further updates will follow settlement and as development milestones are reached.
Read the full media release here.