Big retail brands head to Flagstone
Flagstone, one of Australia’s biggest satellite cities, is fast taking shape in South East Queensland and some of Australia’s biggest retail brands have been quick to move in.
Five commercial sites have been sold and construction is well underway on a $17 million service station and retail complex being developed by local investment group Wild Mint Pty Ltd. Across the road, Coles has purchased 1.86 hectares for a 4000sqm supermarket and 676sqm of specialty stores, adjacent to a planned 120-place childcare centre.
Wild Mint is developing three prime lots on Homestead Drive, at the entrance to the future Flagstone city centre. The service station will be operated by 7-Eleven and includes a drive through fast food and coffee outlet. The adjacent shopping centre will be anchored by a Supa IGA and complimented by BWS, Domino’s, Snap Fitness, a bakery, veterinary surgery, and signature café. Negotiations are continuing to complete the 10 retail tenancies with a hairdresser and Asian and Indian restaurants. The company plans to build a medical centre and pharmacy on the third site later this year.
Wild Mint Development Manager Michael Cross said there had been strong interest in the new Flagstone retail centre.
“Where people go, retail will follow, so we’re excited about the emerging community at Flagstone,” he said.
Peet is also excited about the future of Flagstone City which is another outstanding joint venture with our partners, industry superannuation giant MTAA Super, this time located in the growth triangle between Brisbane, Ipswich and the Gold Coast.
Peet and MTAA’s Flagstone City project covers 1245 hectares and makes up almost 20 percent of the Greater Flagstone Region – a Priority Development Area designated by the Queensland Government to fast track the supply of quality, affordable housing in one the State’s fastest growing regions.
By 2036, population in the area is projected to grow by almost 9000 residents a year, with more than 75 per cent expected to settle in the Flagstone catchment. Within 40 or 50 years, the population of Greater Flagstone is predicted to top 120,000 bringing with it 50,000 new homes and 30,000 jobs.
Peet’s ambitious $6.7 billion Flagstone masterplan will provide 12,000 of those new homes as well as the region’s town centre. This will be the catalyst for a thriving local economy and jobs underpinned by a $2 billion new home construction market.
Designs for the stylish, contemporary town centre include 126 hectares of mixed commercial, retail and civic space with sites allocated for a future hospital, tertiary campus and train station bounded by an exciting 10 hectare regional park.
The first two stages of the $12 million dollar destination park, featuring a quirky waterplay dog park and competition-standard urban skate facility, have been completed. Plans for one of Queensland’s biggest adventure playgrounds have also been unveiled with the playground due to open in time for Christmas 2018.