The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FIRST RELEASE TICKETS ON SALE FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FIRST TICKETS ON SALE FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
SEE DETAILSDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OtherStaff WriterMon 02 Feb 15

Booming Oxley at forefront of retail evolution

O

Brisbane’s Oxley has continued its rapid development with new anchor leases being signed for The Zone complex.

The new leases signal a trend toward tenant diversification within Large Format Retail centres in Queensland.

Oxley is in the middle of a boom period following the

recent announcement of a 1292 square metre mixed-use development site.

CBRE’s Queensland Director of Retail Services and Large Format Retail Damian Crocetti said, “the centre was recently acquired by private investors, who have been highly proactive since taking ownership, to ensure a high quality retail mix is achieved.

“A key driver for these tenants in choosing The Zone was the strength of the current retailers within centre, the location adjoining Bunnings Hardware and the Good Guys, as well as the centre’s close proximity to numerous other retail showrooms including Harvey Norman Super Store, Super A-Mart, Officeworks, Super Cheap Auto and First Choice Liquor Barn,” he said.

Oxley’s main trade area population is forecast to grow to 410 240 by 2021, equating to 19 per cent growth over the next decade. The area’s combined household income and average number of children is above the Brisbane average. The area’s household goods expenditure is set to grow by 60 per cent by 2026. These numbers have led many to believe the area is on course for continued strong development.

The School Locker’s Kaine Escott said, “we chose to open our 3rd showroom at Zone Oxley based on the success of Harvey Norman (whom School Locker is a division of) in addition to the complimentary traders around us i.e. JB Hi Fi, Trade Secret, The Good Guys, Bunnings plus the abundance of schools in the local precinct our business can gain exposure to.”

Mr Crocetti believes this is a trend towards speciality retailers pushing away from bulky retailers.

“Given the continued evolution of centre ownership, which has trended towards private investors and smaller managed funds, large format centres are increasingly looking to diversify away from traditional bulky goods retailers to include a wider array of retail and service uses, particularly food offerings,” he said.

More large retail developments are expected for the area in 2016.

RetailAustraliaSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Bankstown cbd in Sydney NSW EDM
Exclusive

Breaking Delivery Crisis Chokehold on NSW’s Biggest Housing Market

Vanessa Croll
7 Min
Healthscope Hospital EDM
Exclusive

‘Once-in-a-Decade’ Opportunities Rise in Wake of Healthscope Collapse

Clare Burnett
7 Min
Exclusive

Parking Upsize Threatens Fatal Blow to Project Feasibility

Phil Bartsch
6 Min
One New Zealand Stadium BESIX Watpac
Exclusive

Rising to a Challenge: How BESIX Watpac Topped Australia’s Builders

Clare Burnett
7 Min
Exclusive

Rewards Outstrip Risk in SE Queensland Off-The-Plan Buys

Taryn Paris
7 Min
View All >
Bankstown cbd in Sydney NSW EDM
Exclusive

Breaking Delivery Crisis Chokehold on NSW’s Biggest Housing Market

Vanessa Croll
Sponsored

Fast Funds, Real Help—Woodbridge Capital Delivers Both

Partner Content
Development

Melbourne Luna Park Revival Wins State Backing

Marisa Wikramanayake
The Victorian government has provided funding in the state budget to restore Luna Park’s unsafe, century-old Palace Buil…
LATEST
Bankstown cbd in Sydney NSW EDM
Exclusive

Breaking Delivery Crisis Chokehold on NSW’s Biggest Housing Market

Vanessa Croll
7 Min
Finance

Fast Funds, Real Help—Woodbridge Capital Delivers Both

Partner Content
5 Min
Development

Melbourne Luna Park Revival Wins State Backing

Marisa Wikramanayake
2 Min
Aerial photo of St Mary's Intermodal Terminal in Western Sydney now sold by Pacific National to PGIM and Cadence.
Industrial

Cadence, PGIM Team Up for $145m Freight Rail Acquisition

Marisa Wikramanayake
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/booming-oxley-forefront-retail-evolution