Friday 3rd July 2015
The Pellicano Group has secured more than $4 million in deals across its ground floor retail offerings at its Quest Woolloongabba and Eastwood apartments on Brisbane’s southside.
The two buildings on Logan Road have added nearly 200sq m to Woolloongabba’s growing mix of dining and boutique services options.
Minuteman Press, Noosh catering, Sonero Hair and Freeman Lawyers have joined cafe Stellarossa at the Eastwood apartment tower while Vietnamese restaurant My Street Food, Alivia Nails and Locavore Cafe, have taken up ground floor space at Quest.
Pellicano Queensland development manager Michael Kent said a further 900sq m of retail space was available below the company’s $85 million Trafalgar Lane development, which overlooks The Gabba.
“We have secured a major precommitment deal at Trafalgar Lane to a prominent food and beverage tenant, which will deliver further quality dining options to Woolloongabba,” he said.
“More retail space will also be injected into the area at South City Square, a $600 million masterplanned development, with a supermarket, cinemas, cafes and boutique retail stores in the mix.”
The first tower of the South City Square development on Logan Road is under construction. Industry sources say Quest and Eastwood apartments’ retail leasing rate was about $450/sq m while sales were between $7,000/sq m and $8,000sq m.
Wright Property’s Hunter Gore said Woolloongabba was a “vital living and transport hub” and the Pellicano-developed residential towers were popular with young professionals.
“They are looking for an up-and-coming, affordable location that’s close to the CBD and they are attracted to the fact that Woolloongabba offers a host of quality lifestyle amenities at the doorstep,” he said. “The suburb has a reputation for housing a collection of the city’s favourite urban dining hotspots and chic vintage retail.”