Super remix at Cannon Hill Home and Leisure City
October 18, 2010
Home and Leisure City Cannon Hill, on Creek Road at Cannon Hill, is changing shape, having experienced a significant tenant remix over the past few months, to offer a bigger and better range of offerings.
Ian Carrigan, Colliers International Director of Retail, has played a major role in the centre’s revitalisation, having negotiated four new leases within the centre on lease terms up to 20 years, over the past six months.
This has included existing tenants Supercheap Auto increasing their tenancy by 275sq m for a 20-year period, Pillow Talk committing to an additional 500sq m for a further 15 years, and the addition of Goldcross Cycles, who recently secured 723sq m on a 10-year lease within the centre.
Mr Carrigan said that given the limited amount of new developments in the current market and the strong trade conditions all tenants have been enjoying, Supercheap Auto and Pillow Talk were very keen to take up this opportunity to expand their offerings.
Supercheap Auto will open what will be the retail giant’s first Brisbane Superstore in late October.
Mr Ajala, Supercheap Auto Chief Operating Office, said the company, which will now occupy 998sq m of floor space, has chosen Cannon Hill Plaza for a Superstore primarily due to local support and demand for a broader range of their products.
“The Superstore model is designed to complement the company’s existing retail stores, and will provide an exciting new range of offerings,” he said.
Goldcross Cycles, a sister company to Supercheap Auto, has also secured space within the centre and will open its eight South-East Queensland based store late November.
Mr Ajala said the Cannon Hill area was really popular with cyclists, making the centre a perfect fit for Goldcross, which offers a broad range of popular brands.
Rental rates for the tenancies ranged from $240 to $280 per square metre gross.
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