Fantastic deal for centre
Retailers lock in tenancies
FUND manager Primewest’s $100 million North Lakes large format centre will be completed in October with Fantastic Furniture securing the largest slice of the final stage.
OMF, Plush and Carpet Call will join Fantastic Furniture’s (2193sq m) showroom/ warehouse in the Primewest Homemaker Centre on fiveyear plus leases.
Overall 3900sq m of space has been taken up on the third stage and Colliers International’s Garry McDowall is currently negotiating the remaining 800sq m left with a range of smaller tenants including cafes, medical suites and other service providers.
Fantastic Holdings Limited general manager – property Jim Hibbett said the centre was the perfect location for the retailer’s 15th Queensland store.
“North Lakes and surrounding suburbs have grown significantly in recent years and as such, we’ve recognised it as an important addition to complement our existing network and further improve accessibility for more of our customers,” he said.
The first two stages of the large format centre welcomed The Good Guys, Super Amart, Godfreys, PetStock, Spotlight, Anaconda, Supercheap Auto, Bedshed, Beacon Lighting and Kitchen Warehouse.
Primewest director David Schwartz said North Lakes was an overwhelming success for the fund manager and the region generally.
He said all existing tenants were trading strongly and there had been positive feedback and support from the local community.
“When complete Primewest’s North Lakes centre will provide more than 2.65ha of large format retail space in the heart of the North Lakes master planned community and it is already providing significant employment and lifestyle opportunities,” Mr Schwartz said.
“It forms part of a major $1.3 billion investment in the region with retail, commercial and residential development to continue over the next decade.”
Primewest purchased the 6.5ha site in 2014 for $19.528 million.