New convenience retail centre in Augustine Heights is 65 per cent leased
Construction on Augusta Village, a new IGA anchored convenience centre in Augustine Heights 30km south west of Brisbane CBD, is nearing completion. The centre is prominently positioned on Augusta Parkway featuring a vibrant design with a strong focus on alfresco dining.
Construction is due for completion in May with stores expected to commence trading from early June. The centre, developed by Evans Long, will provide great convenience to the local community and features plenty of onsite parking.
Eight of the 12 tenancies have already been leased to a range of quality operators some of which include IGA, Thirsty Camel, Apar Hair Studio, Augusta Dermal Clinic and Fish Burger.
In the last month, three retailers have been secured on five year leases by Andrew Birkett from Colliers International achieving rents above $850 per square metre. These include Noodle Paradise, Brookwater Pool and Spa care who have both leased 60sqm tenancies and Sushi On who will take up 50sqm.
Mr Birkett said there has been strong enquiry for the centre due to its high profile position within an affluent trading area. “We only have four shops available with tenancies ranging from 50sqm to 150sqm.
“These shops are suitable for casual dining retailers who can take advantage of the generous alfresco areas, quick service food operators, a café, bakery, news agency and other similar providers.
“Augusta Village is surrounded by six premium housing developments, including the prestigious Brookwater Estate, which is rapidly growing at approximately 9 per cent per annum. There is also a large discretionary spend in Augustine Heights, with average incomes 60 per cent higher than the Brisbane average.
The latest development, Latter Day Saints Church, is under construction adjacent to the centre, and once completed in September will be the largest church in the greater Ipswich region, accommodating 1,200 people.
For further information on remaining tenancies please visit www.colliers.com.au/16505