This article is from the Australian Property Journal archive
DEVELOPMENT company ORRA is on track to complete the first stage of a new $50 million campus style business park in Brisbane’s fringe North Lakes region.
Construction will complete this week on the 13,500 sqm Lakes Vista site which is the first of its kind in the North Lakes region. The development will account for over one-third of the 35,401 sqm of new office space to enter Brisbane’s fringe markets in the next 18 months.
ORRA managing director Paul Brandenburg said securing a large proportion of space at North Lakes was a strategic win. The Lakes Vista development is located on the new main public transport link from Brisbane city to North Lakes.
“Some very big decision makers are investing in the North Lakes area and this speaks volumes about the rapid residential and population growth. Big brands like Masters, IKEA and Westfield are aligning in a strategic stronghold which capitalises on the growing population, workforce and shifting demographics,” he added.
Brandenburg said 80% of the enquiries were from business owners that resided in the area and a key selling point will be the complete turnkey fit out available.
“New and existing SME’s are always looking to cut costs and lower rates and add-ons go a long way in today’s market.
“We have already sold four office spaces including 1 of the 11 buildings in the park which is a great reflection of current market trends and the high demand for decentralised space,” he added.
The new development offers spaces ranging from single offices to 3,000 sqm for sale or lease with a building containing 50 serviced offices. The development is targeting a four star Nabers rating.
Brandenburg said the campus style atmosphere will create a self sufficient network of businesses that will have a positive financial impact on the region.
“Our goal is to house a good range of companies who can exchange goods and services, facilitating more opportunity for employment and growth,” he concluded.
Australian Property Journal
