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Redbank Plains Town Square Development Sold To Investor

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Brisbane’s Redbank Plains Town Square development was taken off the market by Singaporean real estate investment manager Rockworth Capital Partners for about $160 million.

The Redbank Plains centre comprises close to 27,000sq m of gross lettable area and includes Woolworths, Coles and Aldi ­supermarkets, a Target, along with two drive-through tenancies, a large format tenant precinct, specialty tenancies and parking for more than 1200 cars.

Media sources have not been successful in obtaining further information from the parties involve, but know that Rockworth is a high roller after acquiring a Woolworths and Masters centre at Everton Park for $70 million on top of a $152 million portfolio of shopping centres from Woolworths.

According to The Australian, the Redbank Plains Town Square was previously controlled by investment house Alceon and Brisbane-based developer Capital Transactions, who originally acquired the site for $27 million before commencing millions of dollars worth of construction works to turn it into a substantial retail asset.

The transaction showed tight yield of about 6.25 per cent and was reportedly handled by JLL’s Simon Rooney and Sam Hatcher who quietly handled offers for the centre in an off-market sale process.

The Australian Financial  Review reported that Alceon proceeded to appoint JLL to sell the asset in 2015 at a time when demand for sub-regional centres was increasing rapidly. With a shortage of sub-regional malls available to transact, yields have been squeezed in the sector over the past 12 months by about 40 basis points. The average yield on such malls now stands at less than 6.61 per cent nationally.

 

Originally Published: https://www.theurbandeveloper.com/

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Developments

Store opening creates more than 50 new jobs

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Store opening creates more than 50 new jobs

COLES has created 53 new jobs in the Ipswich region with the opening of its new supermarket at Ripley Town Centre, which will open its doors to local shoppers for the first time with a Dessert Festival this Saturday.

An additional 22 team members will transfer from nearby Coles supermarkets and a further 37 team members will join the team for the online launch in June, bringing the total number of team members to 112.

To celebrate the opening of the new store, the Ripley team will host a Dessert Festival from 7am to 1pm featuring interactive workshops for kids, delectable desserts, competitions, and a range of entertainment. Leading the workshops include former Broncos players Petero Civoniceva and Jharal Yow Yeh, and 2017 MasterChef contestant Sam Goodwin.

The new Ripley supermarket will feature an in-store bakery offering customers freshly baked goods, a gourmet delicatessen with a cheese wall and olive bar, a generous health food selection with a scoop-and-weigh station, and 300 shaded car parks.

The new range will feature hundreds of Queensland-made or grown products, including delicious bakery treats from Country Chef, fresh vegetables from Rugby Farms in Gatton and potatoes from Wickham Farms in Killarney.

Coles Click&Collect and Home Delivery will also be available from next month, allowing shoppers to order their groceries online and have them delivered to their car boot at the dedicated Click&Collect carpark or to the comfort of their own home.

Coles Ripley will also feature energy efficient measures such as solar-panelled car park shades – an initiative of the Ecco Ripley master-planned community as it works towards a Green Star accreditation.

Coles State General Manager Jerry Farrell said the new store was part of an investment of more than $45 million in the region in the past four years.

“We’re working to provide locals in Ripley with an enhanced shopping experience by offering the latest in fresh food technology, and by making grocery shopping more enjoyable and convenient,” he said.

“It’s also fantastic to be creating new job opportunities in this growing region with more than 230 local jobs provided over the past four years, and we’re pleased to welcome 65 new recruits to our Ripley store.”

Ripley Store Manager Adam Brookes said he was delighted with the support and enthusiasm from the local community, and is excited to give back.

“Ipswich is one of the fastest-growing regions in Queensland and the team is really looking forward to becoming part of the community and growing alongside it,” he said.

“Once the store opens, we will be pleased to donate singlets and boxing equipment to local South Ripley boxing club, Rhema Boxing, which will also be kicking off the first of many community BBQs on our opening day.”

On Saturdays and Sundays, other local organisations will have the opportunity to host their own barbeques at the store to raise funds for their school, sporting team or special cause.

Coles Ripley will officially open to shoppers at 7am on Saturday, 19 May.

Free goodie bags will be available to the first 100 customers through the doors.

Source: www.qt.com.au

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Developments

Land for sale at new Gold Coast beachfront estate

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Land for sale at new Gold Coast beachfront estate

Roads and residential blocks are starting to take shape at Paradise Waters’ new estate, Sovereign Shores.Source:Supplied

A new beachfront estate is offering almost 60 vacant blocks at the Gold Coast’s Paradise Point.

ROADS and residential lots are starting to take shape at Paradise Point’s new Sovereign Shores estate.

Metacap Developments is behind the 58 block estate, which overlooks Sovereign Islands.

Ray White Sovereign Islands principal Ali Mian, who is marketing the estate, said 14 of the 35 vacant lots in stage 1 had already sold.

“Once stage 1 is sold out, then stage 2 will take place,” Mr Mian said.

“Stage 2 will be another 23 lots.”

He said the estate was expected to be finished by the end of July, subject to weather conditions.

Land for sale at new Gold Coast beachfront estate

The new estate will overlook Sovereign Islands. Picture Mike BatterhamSource:News Corp Australia

“The construction has commenced, the whole land sale division is taking place,” Mr Mian said.

“It’s a very exciting time (because) this land has been sitting there for such a long time.”

The lots range in size from 425sq m to 728sq m with prices starting from $589,000 up to more than $1 million.

Mr Mian said it was attracting local and interstate buyers, including those from Brisbane, Melbourne and Sydney.

He said buyers could build up to three dwellings per lot and as high as three levels plus a rooftop entertainment area.

“This estate is beautiful,” Mr Mian said.

“You are right next to the beach.”

Residents will be able to access the established resort-style facilities of Salacia Waters, including the residents’ club with library and meeting room, 12-seat cinema room, gym, sauna, two pools and a spa, three barbecue areas and a function room with entertainment deck. Mr Mian said 22 marina berths were also up for grabs.

Source: www.news.com.au

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Developments

QLD Wins $5bn Defence Contract, Builds HQ

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QLD Wins $5bn Defence Contract, Builds HQ
Queensland has won the bid to build $5 billion worth of light armoured vehicles as part of the largest purchase in Australian Army history.

Following a three-year tender process, German contractor Rheinmetall will build 211 Boxer CRVs in Redbank, Ipswich, with a future $15 billion deal also on the table.

The federal government estimates that the contract will create 330 jobs in Queensland, 170 in Victoria and 140 roles in New South Wales.

“Australian businesses will be big winners in Victoria and in Queensland, but also in other states,” Defence Industry Minister Christopher Pyne said.

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“The proposed HQ is based on Rheinmetall’s established designs from their European facilities, although modified to ensure they are suitable to withstand QLD’s climate.”

Ipswich headquarters

Rheinmetall has submitted a development application to build its headquarters serving the Asia-Pacific market in Ipswich.

The headquarters, dubbed the Military Vehicle Centre of Excellence, will be Rheinmetall’s largest facility located outside of Germany.

The development application for the project includes a weapons-testing firing range, an electromagnetic test facility, a laser rangefinder facility and a vehicle compliance test track.

“Rheinmetall considered a number of options across South East Queensland for this world-class facility, and settled on the dedicated industrial zone within the Redbank Motorway Estate,” Minister for State Development Cameron Dick said.

“This choice of location will make use of the existing heavy vehicle manufacturing and employment hub, as well as the highly-skilled workforce within the area.”

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The centre will be made up of several key buildings, including an administration building, a production warehouse and a corporate function centre.

Minister Dick said that construction of the centre will support 200 direct jobs over three years and open the way for local businesses to “participate in Rheinmetall’s global supply chains”.

“The project will provide an unrivalled catalyst for the further development of Queensland’s advanced manufacturing and defence industry capability, as well as significant opportunities for local SMEs and associated services,” Dick said.

The proposed centre will be a campus of high-quality industrial production, testing facilities and administration buildings located along the Brisbane River at Robert Smith Street in Redbank.

The site will have defence-industry standard security fencing.

Minister Dick said his department, which will assist with the construction of the facility, will now work with Ipswich City Council to progress the development application for the project.

Originally Published: theurbandeveloper.com

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