Prime site: A planned shopping centre in Caboolture has secured a Supa IGA as an anchor tenant
A PROPOSED neighbourhood shopping centre north of Brisbane has snagged a popular and much sought anchor tenant and two specialty retailers on long term leases.
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A NEW neighbourhood shopping centre development north of Brisbane has secured a Supa IGA anchor tenant and two specialty retailers on long term leases.
Civil works at the Pumicestone Marketplace site in Caboolture will start next month with building works to follow in March next year.
The 4500sq m shopping centre on the corner of Pumicestone Rd and Ardrossan Rd will open in the last quarter of next year. The site was purchased by Axis Capital for $3.3 million in June last year.
Axis Capital director Robert Bitomsky said they intend to hold the asset once it is developed and leased.
“There were two main factors influential in the purchase decision,” he said.
“Firstly, the Caboolture corridor is forecast to experience rapid growth in the future.
“Secondly, we are already seeing this precinct developing into a strong thriving community hub, with the Pumicestone Primary School opening, Pumicestone/Ardrossan/Cottrill Rd upgrade works, new petrol station and the Halcyon Glades retirement living development all underway.”
Axis Capital secured Supa IGA as their anchor tenant across 3000sq m on an initial lease term of 15 years.
Colliers international’s Garry McDowall subsequently negotiated a 10-year lease with a 10-year option for a 200sq m pharmacy and a 120sq m medical centre.
“We are leasing the remaining tenancies now with sizes ranging in area from 60sq m to 250sq m,” Mr McDowall said.
“The type of operators we are seeking are from the general retail, service retail, food and medical sectors.”
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