Outdoor adventure retailer, Anaconda and fast-moving American burger franchise, Carl’s Jnr have committed to South-East Queensland’s newest large format retail and convenience centre.
The two brands join a growing list of businesses now involved in the $20 million Ipswich development, which will also feature a Bridgestone Tyres outlet and a 7-Eleven service station.
For Anaconda, the deal marks the brand’s 14th store in Queensland, with the 1,800sqm Ipswich showroom the largest in their portfolio.
CBRE’s Andrew Brimson, who negotiated the anchor Anaconda lease at the 355 Brisbane Street development believes the 10-year lease commitment is a reflection of the strong population growth and government infrastructure commitments in the area.
“Ipswich’s population is increasing at twice the rate of the Queensland average with forecasts that the current population of 200,000 will surge to 435,000 residents by 2013,” Brimson said.
“The region is also benefiting from major infrastructure projects, including significant motorway upgrades and the planned $150 million rejuvenation of Ipswich Central, which will inject new life into the city’s centre. This is underpinning strong interest from large format retailers wanting to establish or grow their presence in the Ipswich market.”
The growth follows a familiar trend that has seen demand for family housing in Ipswich increase steadily since the 2011 floods, with reports from the Australian Bureau of Statistics indicating building approvals in the area forecasted to top last years numbers.
With long term lease agreements already negotiated for franchises; Bridgestone, 7-Eleven and Carl’s Jnr, the final 600sqm showroom has been fielding strong tenant interest.
Brimson linked the development’s early leasing success and high enquiry rate to Ipswich’s strong underlying fundamentals – coupled with the project’s high exposure and strategic location.
“355 Brisbane Street is extremely well positioned in an established and strongly trading showroom strip, which is continuing to grow and evolve,” he said.
“The development is situated at a major intersection, with exposure to 27,000 traffic movements daily, and benefits from its close proximity to major national retailers such as Bunnings, Spotlight, Fantastic Furniture, TK Maxx, Best Friends Pets and Chemist Warehouse”.