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Rising population drives industrial and commercial property surge
Migration to regional communities has pushed up demand for commercial and industrial infrastructure, according to a construction firm.
The population and economic boom in regional Australia has underpinned “unprecedented demand” for industrial land, Rossiter Constructions has found.
Examples include the regional town of Shepparton in Victoria, where a projected population boom of 7,000 residents is driving demand for commercial spaces.
In the town, Rossiter Constructions is currently building a new warehouse precinct which includes new flexible spaces for small businesses, entrepreneurs, trades, creatives and SMEs, the company confirmed.
The shift in population has manufactured a boom for commercial spaces.
“The lifestyle appeal is what’s really driving demand for residential areas, and consequently, commercial and industrial spaces, and our local team has responded to that,” said Olivia Ross, general manager of Rossiter Constructions.
“Seeing a real shift in where people want to live and work. Regional cities like Shepparton have grown to the point where they offer great schools, jobs, and housing affordability.”
The project, scheduled for completion in 2026, is expected to attract investment and support the development of a vibrant, self-sustaining community.
It comes as Shepparton recorded 2.5 per cent house price growth over the past year.
“It’s exciting to see such a high-calibre, architecturally designed industrial development in Shepparton’s newest industrial estate,” said Rocky Gagliardi of Gagliardi Scott Real Estate.
“Makers Mile sets a new benchmark for what industrial development can look like in regional Victoria.”
