Woolworths and Dan Murphy’s sign up to the $140m Ferny Grove Central development
Article location: Courier Mail Business Online.
A supermarket giant and a liquor chain have precommitted to a $140m mixed use development in Brisbane’s north western suburbs.
In cornerstone leasing deals, supermarket giant Woolworths have signed a 15-year lease on 3200sq m and liquor chain Dan Murphy’s a 10-year lease on 1700sq m in Honeycombes Property Groups’ Ferny Grove Central development on Samford Road.
Honeycombes’ managing director Peter Honeycombe said the mix and calibre of the anchor tenants reflected both a pent-up demand for quality retail space in the area.
“The huge level of interest from retailers, big and small, in what we are creating at Ferny Grove Central has been unprecedented and just goes to show the heightened demand for quality retail opportunities in the area,” he said.
“Woolworths and Dan Murphy’s as the development’s two anchor tenants, will provide the key to reinvigorating this end-of-line railway station precinct into a thriving neighbourhood village that combines retail, residential and entertainment amenities.
“Our aim is to breathe new life into the precinct with Ferny Grove Central and getting the retail mix right is an important part in successfully achieving that.”
The mixed-use development adjoins the Ferny Grove train station which has more than 5000 passengers a day.
Along with the 12,000sq m retail component and carparking, the development will also have a residential enclave, The Fernery, featuring 82 luxury boutique apartments complete with a recreational deck, as well as improved pedestrian and cyclist connections through the site.
Facilities for train passengers will also be enhanced with the introduction of a multi-deck commuter car park providing the convenience of undercover parking bays.
JLL’s Cameron Taudevin and Taylor Macri are leasing of the project’s retail component.
Mr Honeycombe said extensive community consultation had been undertaken by the company in refining the project’s design and other elements to ensure it provides the perfect blend of lifestyle and convenience for the area.
“Our approach has not only been forward-thinking and design-led but also very much community-focused to enable us to deliver a transit-oriented development that will be both transformative and embraced by local residents,” he said.