Brisbane’s North-West is seeing the creation of vibrant new commercial hubs along with the upgrade of infrastructure to support new growth.
An increasing trend within the precinct is the desire for business owners and their employees to live in close proximity to their workplace. The creation of central business hubs such as Alderley, Mitchelton and Stafford provide easy access to public transport and generous parking ratios. The North-West precinct provides countless opportunities for business owners to strategically locate their workplaces.
In general terms, the market in the North- West has been one of Raine and Horne Commercial’s strongest performing areas and was completely unaffected by the Queensland floods. This is a substantial positive and the team have also found leasing and sale rates have only slightly diminished throughout the recent GFC.
Enquiries have come from various market sectors ranging from professional services, retail, health related industries through to government funded community organisations.
The Queensland Government has also recognised the ever increasing traffic and public transport congestion throughout Brisbane and is now looking to decentralise a number of their departments to suburban areas.
Another common requirement is for substantial parking allowances which are not readily available in the CBD and fringe locations. The North-West Precinct generally provides a higher parking ratio which is a pre-requisite for many companies. For example, Raine and Horne Commercial Northside recently leased 900m² of office space in Everton Hills to Blue Care with excellent on site parking for 50+ vehicles. Further to this increasing trend, a new mixed use development – North Park Business Centre is currently under construction in order to meet growing demand.
The North Park Business Centre will provide premium ground level office with areas ranging from 100m² – 2,800m² for sale and/or lease. Features include quality commercial finishes throughout, substantial secure undercover parking of a generous 1:30 per sqm ratio along with direct lift access. The centre is centrally located on busy Webster Rd, providing significant exposure and excellent access to all major northern arterials including the Airport Link tunnel entry/exit on Stafford Rd and is only 7km from the CBD.
With the continual upgrading, redevelopment and numerous infrastructure projects taking place, it’s only a matter of time before the North- West Precinct joins many of its cityfringe neighbours in value, making it an excellent long-term investment.