Originally published on The Courier Mail
A masterplanned community with a growing population has $60m in commercial projects under construction creating 550 jobs. SEE WHAT THEY WILL LOOK LIKE.
CONSTRUCTION will kick off on more than $60m in commercial property projects in a southeast Queensland masterplanned community whose population was reaching a “tipping point”.
Lendlease’s Yarrabilba community south of Brisbane was launched eight years ago and now has about 9000 residents with the COVID-19 stimulus packages sparking a new surge in land sales.
While Yarrabilba already has a number of schools, childcare centres, shops and other service industries eight new projects have started or will start construction over the next six months.
The projects will create 550 jobs and signal the new phase in the development of the growing community.
Justin Clarke, whose company McGees Property is the commercial marketing co-ordinator for Yarrabilba with Donnelly & Associates, said the Yarrabilba population was reaching a critical mass.
“The population is reaching a tipping point. Once it goes from 10,000 to 15,000 people that’s when the need for commercial amenity like the town centre kicks in,” he said.
“To date commercial land has sold for between $225/sq m to $350/sq m plus GST which is exceptionally good value.
“The good thing is we have shovel ready land which is very important because a lot of developers will be coming with tenants signed up.”
The eight government and private development projects are:
● Stage 1 of San Damiano College (3000sq m);
● Stage 2 of the four storey Vue development apartments and 750sq m ground floor retail;
● Wongawallan showrooms (2278sq m) and 130-place childcare centre;
● Day surgery (1650sq m);
● Fire station (1500sq m)
● Tavern (2350sq m);
● Neighbourhood centre, retail, office and medical (2200sq m) plus a 130-place childcare centre
● HIVE community facility (1200sq m).
Lendlease senior development manager, non residential, Andrew Erzetich said Yarrabilba — which is a 30-year project — was poised for significant growth moving forward with 30,000 people in the main trade area.
“Yarrabilba is in the heart of a massive growth corridor,” he said.
“To date a significant amount of amenity has been delivered — both public and private — and next year will have four schools in operation.”
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