The Coles Group has placed a prime retail pad site on the market in the rapidly expanding Yarrabilba Estate south of Brisbane.
The Coles Group has placed a prime retail pad site on the market in the rapidly expanding Yarrabilba Estate south of Brisbane.
The 2,564sq m lot is being carved off a larger site acquired by Coles who is planning the development of Yarrabilba’s first full line supermarket adjacent to the pad site.
Yarrabilba is a large-scale fully master-planned community and future city being developed by Lend Lease. Situated 40 kilometres south of Brisbane, the residential project comprises some 2,029 hectares and is expected to deliver around 17,000 residential dwellings for an estimated 45,000 residents.
The pad-site which is earmarked for pharmacy and medical use is being marketed for sale by Peter Tyson and Michael Harcourt of Savills.
The land occupies a high profile location at the entrance to Yarrabilba Estate and adjoins a planned Coles supermarket.
Peter Tyson of Savills Retail Investments said: “The site is unique both in terms of the pole position on the entry of the future city which is expected to become home to around 45,000 residents on completion.”
“We are anticipating strong demand from developers for this high profile site, due to its prime location adjoining the Coles supermarket which should open by November 2017.”
Mr Tyson said Yarrabilba Estate is set to become a major population centre and the development will provide essential amenity to local residents with a wide range of pharmacy and medical operators already eager to occupy the building on completion.
“We have already received strong enquiry from potential pharmacy and medical tenants who are excited by the prospect of operating in such a promising location,” Mr Tyson said.
The property will be offered for sale via Expressions of Interest, closing in October.