[+] Humble Shed Gets the Boutique Treatment

Remember the backyard shed? Well, it’s a sure bet it didn’t look anything like what developer Frank Licastro has in mind for a 3236sq m site at Herston in inner-city Brisbane. Through all the upscaling, downsizing and the rise of boutique apartment living in increasingly skinny towers, the humble shed has survived—but not as we once knew it. Licastro’s recently-approved Gould Lane is a prime example of the design-led and not-so-humble new age of Australia’s shed culture that has dawned, not in backyards but in not-too-far away light industrial precincts nestled in the urban landscapes of its capital cities. Man caves and she sheds, as they have been collectively dubbed, are in demand and have become a highly competitive commercial property play. Emerging from shifting residential and workplace trends as well as the rise of e-commerce, they are a new boutique twist on the ubquitous pre-cast concrete office-warehouse complexes. They feature high-end design, fittings and amenities such as on-site cafes, co-working office spaces, communal boardrooms, lounge areas, car washing facilities and rooftop terraces with outdoor dining areas. Gould Lane is the first foray into the fast-growing industrial segment for Licastro’s Brisbane-based Frank Developments, whose more familiar territory is luxury apartment projects. Spanning four lots at 19-25 Gould Road, it will replace three existing houses and comprise 15 warehouses—ranging from 123sq m to 221sq m—each with full mezzanine office suites and three exclusive car spaces. ▲ Gould Lane is the first foray into industrial segment for Frank Developments. The scheme supersedes a previous approval for a larger 58-room self-storage facility on the site. Gould Lane is due to be launched to the market in August and construction is expected to start later this year. “Coming from that luxury residential product there were quite a few needs that buyers desired,” Licastro told The Urban Developer . “Downsizers were still wanting extra space … and that sort of got me thinking. “The more I looked into it, the more I actually really liked the whole concept because it’s just such a blank canvas for peoples’ lifestyles in general. “Say, for example, if you’ve got a small business or for e-commerce, a studio, self-storage or just as an extension to the home, it really works on all those levels.” Gould Lane’s design by architecture studio BYculprit blends a residential aesthetic into the project that further pushes the concept well beyond the traditional four walls and a roller door. “The building design is aimed to uplift and rethink the aesthetic of a shed,” its design statement said. It draws inspiration from surrounding parklands and Queenslander homes, with elevated planters placed between each of the sheds “creating a residential scale to the project”. ▲ Frank Licastro: Downsizers were still wanting extra space … and that sort of got me thinking. “The project sets out to create a residential community in form but an extension of the home in use ... [its] design brings a softness to an otherwise heavily industrial space.” Licastro says with Gould Lane he is deliberately playing to his strengths in the luxury residential sector in a bid to push the envelope in the burgeoning high-end shed market. “From a design perspective I saw a real gap in the market … no one has been designing these things with any real architectural flair or incorporating a bit of sub-tropical design. “In an area like Herston you can justify doing that. And we’ve learnt from our residential projects such as Maison in New Farm that if you do push that design element people will pay for it. “So, coming into this industrial market … and bringing something innovative and completely unique I feel is going to set a new high standard.” Colliers industrial director Daniel Coburn says the success of the man cave-she shed concept is two-fold. “What really kicked it off was the shift to high-density living, people buying into apartments and townhouses and the like. “They’re buying these as an extension of their home as a place to store their cars, boats, jetskis as well as personal items and using the mezzanine levels as a lounge or a bit of a home away from home. “The other aspect of the market is small businesses, like tradies using it for storage of their equipment. “It's a concept that's quite multi-purpose and has proven very popular with most projects selling out way ahead of time. ▲ Ledlin Developments’ Oscar Ledlin says the concept has had to evolve and will continue to adapt. “And the demand is not only coming from occupiers but from investors who are buying up multiple units in these projects to lease them out.” Coburn says with soaring land values and strong demand prevailing, the concept is now going vertical with some multi-level shed projects reaching up to three storeys. Meanwhile, Melbourne-based Ledlin Developments—with a $100-million pipeline of industrial business park projects—is tapping the demand from a different direction. It is incorporating basement and lower-ground level so-called Flexie units into the design of its projects. They are smaller but still include access to extensive communal amenities. As well as tradies and other traditional man cave-she shed occupiers, it is also targeting “the next generation of e-commerce users taking their first step out of the garage at home". Founder Oscar Ledlin says with industrial property prices skyrocketing over recent years the man cave-she shed concept has had to evolve. “Six or seven years ago we were selling 150sq m to 250sq m office-warehouses as man caves for under $300,000. Now they’re selling from $750,000 … it has priced the man cave user out. “That was our entire market back in 2015 and the demand is still there. “But to meet that demand at a price point that's still affordable the product has had to evolve and that’s why we've come up with the multi-level concept with the Flexie units. "So, now we're selling 50sq m to 100sq m units as man caves." Professional and financial services, IT companies, accountants, architects, draftsmen and engineers are occupying much of Ledlin’s larger office-warehouse spaces. “We’re also attracting occupants that are coming out of traditional retail precincts. “These businesses have been encouraged due to the pandemic to explore online and a portion of them now have no interest in returning to those precincts. Instead, they are setting up in these light industrial areas. “This is a space that's very adaptive,” Ledlin says. 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[+] Humble Shed Gets the Boutique Treatment

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