SIGNIFICANT infrastructure projects planned or under construction across the Darling Downs region are already proving a game changer for Queensland’s economic growth.
Colliers International national director of rural and agribusiness, Rawdon Briggs, said the key projects included Brisbane West Wellcamp Airport, which was already operational, Toowoomba Second Range Crossing, due for completion in 2018, and the Brisbane to Melbourne Inland Rail, with expected completion in 2024.
As outlined in the latest Colliers Radar: Paddock to Port, the projects will have a positive impact on the property sector, leading to a seismic shift in the food supply chain distribution network, he said.
“Queensland is already the nation’s most valuable state in terms of agricultural production, and well placed to realise long term growth as a major exporter of agricultural products over the coming decade,” Mr Briggs said.
Queensland is... well placed to realise long term growth as a major exporter of agricultural products over the coming decade.
“Driving this demand is change in the global market and consumer preferences which is contributing to the rise in demand for Australian agriculture products, particularly from Asia’s middle class.
“These infrastructure projects will further add to Queensland’s growth by creating employment, improving access to road, rail, air and port facilities and ultimately leading to increased productivity and export capability.
“With the gross value of Australian farm production at $58.4 billion in 2016-17 this sector now needs the ability to shift output from the paddock to port seamlessly.
“They will create cost efficiencies in distributing food perishables and high value product through reduced transportation time and associated costs, and in turn reduce carbon emissions and congestion on major arterial roads.”
Colliers International research manager and report author Helen Swanson said examples of companies committing to new developments included Schlumberger, Boral, Au Lait Australia and Nature One Dairy, Saxon Energy, Vinidiex, Inplex and Speicapag.
“There is strong evidence pointing toward the positive correlation of demand for industrial property in a region and the emergence of new infrastructure projects,” Ms Swanson said.
“Additionally, the importance of these projects in improving accessibility of freight to the area is likely to directly impact the potential rental and land value growth rates for industrial property in the region.
“In summary, industrial precincts that have allowed for easy access to major arterial roads, inland ports and inland rail will always have a competitive edge.”