Commercial Confidential: Brisbane property and leasing news and gossip
THE local Westfield shopping centre might be the current place to be seen in the booming North Lakes region, but a new $250 million precinct is about to up the ante. TAKE A TOUR
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THE Laguna North Lakes mixed-use development in the heart of the town centre has received formal development application approval from Moreton Bay Regional Council.
The precinct, to be developed by The George Group in partnership with Pointcorp, will see the 1.7ha $250 million project set a benchmark for a mixed-use development in a traditionally suburban region.
Laguna will deliver a 138-room hotel, 10,500sq m of A-grade commercial office space, 2000sq m of health and wellness facilities, a 3000sq m resort-style restaurant and bar, and a publicly accessible aquatic centre with lagoon-style pool.
About 5000sq m of fashion, food and beverage retail will provide a curated high-street retail precinct.
Anchoring the development will be the 3500sq m Laguna North Lakes convention and events centre, which will be one of the largest purpose-built venues in northern Brisbane, catering for 720 guests banquet style and 1600 standing, over two levels.
Leading Brisbane-based architecture firm Richards and Spence have teamed up with Nettleton Tribe, and construction is planned to start in late 2018, with completion targeted for late 2020.
The George Group director Patrick George said the precinct has been designed as a destination that will be activated day and night.
“During the day locals, workers in the commercial tenancies, and indeed visitors to the region will enjoy a wide range of boutique retailers, cafes and outdoor dining, all revolving
around a central tree-lined, pedestrian-orientated high-street, to be known as ‘Laguna Drive’,” he said.
“To date there has been a wide range of local, Brisbane-based and national interest in leasing both retail and food and beverage tenancies.
“Interest in commercial tenancies has also been very strong.”
Hidden Outback treasure revealed
A VENERABLE Outback pub in central Queensland has been transformed as a tourist hub and selected to represent Australia at the 2018 Venice Architecture Biennale at the end of the month.
The Globe Hotel in Barcaldine has been a landmark on the junction of two major national highways for a century.
But Brisbane-based m3architecture and Yepoon’s Brian Hooper Architect have transformed the pub into a Tourist Information Centre and cultural drawcard.
The old Globe Hotel has an art gallery, a local history room, information centre and bank.
The hotel is 300m from the politically significant, heritage-listed Tree of Knowledge which is the birthplace of the Australian Labor Party.
Prior to the Globe Hotel and Tree of Knowledge projects, the Barcaldine Council estimated that of all visitors to Longreach only 3 per cent to 5 per cent would stop and spend money in Barcaldine.
The council now estimates this number to be between 10 per cent and 15 per cent.
JLL has been appointed to manage one of Brisbane’s newest shopping hubs — Coorparoo Square.
Owed by Frasers Property Australia Coorparoo Square is home to 19 leading retailers with three more set to open in the coming weeks, over a total of 6700sq m.
Jacqueline Kinloch, Director and Head of Retail Management for JLL in Queensland said multi-mixed assets were being designed by developers with medium-sized retail offerings in the current market.
“This mix is working due to the ease of access to the retail amenity and designed and building ‘warm communities’ not cold buildings,” said.
“These newer neighbourhood centres with residential components typically target a higher proportion of food and beverage tenants than a traditional centre.
“The thinking behind this trend is that residents will be typically younger and therefore eat out more regularly than say a family would.”
Govt on the move
AFTER a period of inactivity the State Government is on the move.
We hear Charter Hall and Keppel REIT’s office tower at 275 George St has secured Department of Natural Resources and Mines.
The department was at the Land Centre at Woolloongabba but has had to move because of Cross River Rail plans.
They have 5205sq m in the building and the deal was done through JLL and Colliers International.
The taxman goeth
THERE also seems to be some movement on the Australia Taxation Office’s 20,000sq m requirement.
Sources say the Morris Property Groups’s 152 Wharf St site in Spring Hill, which currently has a five-storey office building on it, is the frontrunner.
Earlier this year MPG principal Barry Morris said he was keeping his options open on the site by running two DAs — a 30-storey residential tower and a 27-storey office tower. However, we understand the plans have yet to be approved.
Brisbane is where WeWork
FINALLY, in more leasing news we hear co-working giant WeWork is close to announcing where it will set up shop in Brisbane.
WeWork has more than 242 physical locations in 71 cities and 21 countries around the world and in Australia four locations across Sydney and Melbourne.
Sources say WeWork’s first Brisbane offering is a 7000sq m slab in Daisho’s 192 Central on Ann St, not far from competitor Hub Australia’s new Brisbane space at 200 Adelaide St.
Funds managers target Brisbane towers in deal wave
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$135m deal: SEQ aged care company sold
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