Colliers and CBRE have called for expressions of interest for Ripley Town Centre—a circa 67ha mixed-use development opportunity in south-east Queensland’s western growth corridor.
Ripley Town Centre represents a once-in-a-generation opportunity for buyers to capitalise on the enormous growth potential of the region, which has been specifically identified for accelerated development under the Ripley Valley Priority Development Area (PDA)—one of Australia’s largest.
Sekisui House Australia delivered the 5 Star Green Star-rated, award-winning and high-performing Ripley Town Centre Stage One in May 2018, which is home to a Coles supermarket, BWS, Anytime Fitness, a medical centre and about 20 specialty stores including cafes and casual dining, health, beauty, services and businesses.
To meet strong tenant interest, Sekisui House Australia submitted a development application to Ipswich City Council in April this year for the development of Stage Two which, if approved, will allow for the development of a further 8063sq m of retail and recreational space, anchored by a second major supermarket.
Importantly, the masterplan presents significant mixed-use development opportunities, with the ability to accommodate up to one million square metres of gross floor area (GFA) across further commercial and retail, mid to high-density residential, health, education and seniors living, providing inherent value for the centre to mature into a fully developed activity hub over time.
While under the current and approved Ripley Valley Urban Core Context Plan, there is planning approval of up to 257,000sq m GFA across mixed uses and 2000-plus home units (about 300,000sq m) of medium to high density.
CBRE senior national director, James Douglas said the Ripley Town Centre offer was a rare opportunity to acquire a highly productive shopping centre.
“Ripley Town Centre is a site with a large land holding and the ability to expand, with significant growth potential through mixed-use development opportunities,” he said.
“The state government’s commitment to the precinct and a rapidly growing population base—in one of the fastest-growing regions in Queensland—are highly supportive factors to the future success of the area.”
Colliers managing director, Asia Pacific, Lachlan MacGillivray said the Brisbane retail market continued to be on the radar for international investors looking at major development opportunities, spurred on by strong net migration and the upcoming Brisbane 2032 Olympic and Paralympic Games.
“Global investors continue to be attracted to the Australian retail market as it has proven to be highly resilient, has limited new supply and unparalleled renewables opportunities,” he said.
“Situated within the burgeoning western corridor of Brisbane, Ripley has seen an influx of developers drawn to the area, and we expect to continue to see strong demand in this space as the precinct transforms and grows into the future.”
Located about 10km south-east of the Ipswich CBD, 17km south-west of Springfield and 40km south-west of the Brisbane CBD, Ripley Town Centre is strategically positioned nearby major road networks—including the Centenary and Cunningham Highways—local schools, hospitals, public transport and community amenity, as well as the proposed future Ipswich to Springfield Central Public Transport Corridor, which will include a train station within the centre.
Sekisui House Australia has already established critical infrastructure that has formed the foundation of Ripley Town Centre, including community and environmental infrastructure to support the growing community.
Expressions of interest are open until July 19, 2023, at 4pm (AEST). For more information, contact James Douglas at james.douglas@cbre.com or Lachlan MacGillivray at lachlan.macgillivray@colliers.com.
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