New Coorparoo Square precinct signs up ALDI among retail tenants

Retail tenants seeking to capitalise on the potential of Coorparoo Square, Brisbane have committed to 80% of the total available lease area in the mixed-use precinct.

The development, due for completion in the third quarter of 2017, has secured 13 tenants, including cinema group Dendy and supermarket giant ALDI.

The leasing campaign has also attracted a range of innovative food outlets, including two burger retailers, Remy’s and Hello Harry, Mexican specialist Poblano, Saffron Indian, Mission Vietnamese and Kivahan bakery, as well as hairdresser TigerLamb and barber Chop Spot.

Coorparoo Square, a joint-venture project between Frasers Property Australia and Honeycombes Property Group, will deliver a major mixed-use precinct to the heart of Coorparoo, just 4.5 kilometres from the Brisbane CBD.

Coorparoo Square has been developed in line with the Brisbane City Council’s Eastern Corridor Neighbourhood Plan which showcases the principles of high quality urban design with a focus on transit-oriented communities catering to residents and workers. The precinct is a major transit hub within the city’s bus network.

The $252 million development, which comprises 366 residential apartments and 6,700 square metres of retail space is appealing to a broad suite of tenants.

Cameron Taudevin, head of retail leasing Queensland at JLL, said leasing enquiry has been strong for Coorparoo Square, complementing a near sellout of residential apartments in the development. He said Dendy and ALDI have been significant drawcards that have led to strong interest from national and local business operators.

“Coorparoo Square offers a great inner Brisbane location and the retail precinct benefits from the many apartments within the development,” said Taudevin.

“A number of prospective tenants who enquired as early as 2015 have secured leases in Coorparoo Square with the aim to open upon completion of construction in the third quarter of 2017.

Coorparoo Square has 12 tenancies remaining for lease, ranging in size from 53 square metres to 87 square metres at street level, and 200 square metres for a lower ground level tenancy.

“Our current focus is on groups with particular uses that suit the retail amenity, such as an artisan baker, beauty therapist, optometrist and complementary medical uses.”

Retail leasing enquiries at Coorparoo Square are being handled Cameron Taudevin and JLL Leasing Executive Taylor Macri.