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Retail growth in North Lakes set to continue for the next decade, developers say

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RETAIL trade is set to boom in the North Lakes area in the next 10-15 years, developers say.

Patrick George, director of George Group, a joint venture partner in the proposed Laguna North Lakes project, said an independent research study had been commissioned by the partners.

Laguna North Lakes is a planned mixed-use precinct in the centre of the North Lakes CBD.

“Our specially commissioned research has indicated that by 2031 retailers in the North Lakes trading area can expect a total consumer spend potential of over $600 million per annum,” Mr George said.

“North Lakes and the surrounding Moreton Bay region already benefits from a strong regional economy valued at nearly $13 billion in 2016.

And with average annual household incomes already roughly 12 per cent higher than that of greater Brisbane, the spending power of local residents is only set to further benefit new retailers, commercial businesses and hospitality operators relocating to North Lakes.”

Mr George said there had been plenty of interest in Laguna North Lakes from local and national retailers who were seeing the benefit of opening operations in the growing ­region.

On completion, Laguna North Lakes would feature 5000sq m of boutique retail, 10,000sq m of commercial office space, a regionally significant function and events centre, a 140-room hotel as well as a new aquatic centre, Mr George said.

The outdoor retail ­precinct will form the central spine of the 1.7ha ­project.

Construction of the project is planned to commence in early 2018, with completion targeted for late 2020.

President of the North Lakes Chamber of Commerce and Industry Dave Green said the chamber welcomed the Laguna ­development.

“It will drive business activity within the region as well as providing new jobs in a range of industry sectors,” Mr Green said.

“It will bring much-needed accommodation for business travellers and holiday-makers alike. We look forward to welcoming the owners and tenants of Laguna to the North Lakes business community.”

Originally Published: www.couriermail.com.au

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Market Place

CoreLogic figures reveal Moreton Bay region’s hottest real estate suburbs

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ELIMBAH has been the star performer in the Moreton Bay region real estate market this year.

According to the latest CoreLogic data, the median house price in Elimbah soared 14.7 per cent in the year to August to sit at $605,000.

That pipped Joyner, where the median house price increased by 14.6 per cent over the same period to sit at $596,250.

Woorim was top on Bribie Island and third in the region with the median house price rising 13.8 per cent to $515,000. Bellara was fourth 12.4 per cent to reach $362,500.

Margate was top on the Redcliffe Peninsula and fifth overall with its median house price up 12.2 per cent to $452,000.

Harcourts Noterom principal Gay Matthews pictured, said: “I’d say 2009 was a pretty sad year but each year after that the market has been getting better and better.

“We’re in a better position than a year before and last year we were in a better position than the year before that.

“We get a lot of buyers coming out from the North Lakes region looking for the bigger blocks, and we see some from the inner city too, of course,” she said.

David Deane Real Estate sales director, Mark Rumsey said he wasn’t surprised by the

figures for Pine Rivers.

“Overall the vast majority of property in the region has grown anywhere from 5-10 per cent

and sometimes in greater numbers,” he said.

“The only property category that has yet to see that growth is the villa and townhouse market,

typically.”

“It’s a case of growth from the middle ring of Brisbane filtering out,” he said. “As we evolve as a region, people see us as a pretty god overall destination.”

LJ Hooker Redcliffe principal, Danny Mailer said demand for property was high in the

Redcliffe region.

“Stock isn’t lasting long once listed and we’re pretty much clearing everything at auction or

before,” he said.

“We listed a property (on Wednesday) and within a day five people had been through it and

we had two offers.”

Mr Mailer said the seaside lifestyle had long drawn buyers to the region but high prices in

other markets were pushing even more buyers to the peninsular.

“There are a lot of investors and interstate buyers in the market at the moment,” he said.

“The Sydney market is over-inflated and buyers from there are coming (to Redcliffe) to get

value for their money.”

Originally Published: http://www.couriermail.com.au

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Infrastructure

More smart city grants announced

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Queensland’s Moreton Bay Regional Council has been awarded a $450,000 grant to implement a smart parking project in North Lakes.

Under the project, local streets will be upgraded with digital street signs that will tell drivers how many free parking spaces are available on a given street.

A smartphone app will also be developed with a virtual map of free and occupied spaces updated in real time. Moreton Bay Regional Council will match the federal government’s contribution.

The city of Greater Geelong in Victoria will meanwhile be provided with a $415,000 grant for an initiative that also includes installing parking sensors to indicate parking availability.

In addition, the city will install ‘smart street furniture’ which will provide high-speed Wi-Fi across the city, LED streetlights that can boost brightness to reduce street crime, air and water quality sensors, touch screens and a public address system.

The city and private partners will contribute $518,000 in joint funding towards the project.

“Smart street furniture will literally ‘switch on’ the city, meaning residents and visitors can easily plug into a range of technologies — charging your electric car, digital signage to assist the all-important tourism sector, streetlights with sensors that react to antisocial behaviour,” Assistant Minister for Cities and Digital Transformation Angus Taylor said.

Both the grants form part of the $28.5 million first round of the government’s Smart Cities and Suburbs program. The grants to 52 projects across Australia were allocated yesterday.

Originally Published: www.technologydecisions.com.au

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Market Place

Why Bribie Island has become a hotspot for interstate migration

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 Interstate migration is rising in Queensland, with a heavy emphasis on the Moreton Bay region.

The northern Brisbane area had the highest number of migrants coming in from other states, and Bribie Island and its surrounding suburbs had a surprisingly high percentage of net interstate migrants, nearly 10 per cent.

That growth is being driven by an attractive and relatively unique market, focused on retirees and families looking for a quiet and safe spot while still being close to the city.

Jenny and Glenn Murch have made the move from Canberra for exactly that reason.

“When we got to Bribie we found a lot of like-minded people who were early into their retirement,” Ms Murch said. “We wanted to be close to a city, an airport, to a hospital but not right next to any of those.”

“We were looking for a place that would protect us from all that hectic tourism,” Mr Murch said. “And less of the problems that can come up in dynamic and younger communities.moreton market place

“We wanted to step off, and step back. When you cross over that bridge, you’re entering a defined community.”

ABS data shows the Bribie and Beachmere area had 612 people move in from other states last year, which is comparable to Maroochydore and Noosa. Those two bustling seaside suburbs had 684 and 664 people move in, respectively.

The Murches considered moving to more popular coastal areas, but were put off by how “hectic” tourism could be.

“Well we looked around Maroochydore and Caloundra. We felt it was too busy and not exactly what we were looking for,” Ms Murch said.

“We never looked at the Gold Coast at all because it was too hectic,” Mr Murch added.

Comparatively, Domain Group data showed suburbs like Noosa and Maroochydore had much higher interest from buyers outside Queensland.

Noosa had huge interest from out of area buyers in the past 30 days, with 68 per cent of searches coming from outside the state, compared to 46.7 per cent in Maroochydore and 29.8 per cent for Bribie.

However, the estate the Murches bought their block of land in, Pacific Harbour, has seen strong interest from serious southern buyers, QM Property’s marketing manager Annette Mengel said.

“Bribie Island is Queensland’s only offshore island connected to the mainland by bridge, and interstate buyers are amazed that a brand new home and luxury island lifestyle is available just 60 minutes’ drive to a capital city,” she said.

Originally Published: www.domain.com.au

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