Laguna North Lakes Project Commencement of Works Moved to Mid-2019

Construction works on the $250 million Laguna North Lakes will have to be moved to the middle of 2019 from the originally planned commencement of late 2018.

Project developers, The George Group and Pointcorp, will utilise this time to continue the search for the project’s tenants and contractors. According to them, the leasing phase is going well and the selection process that’s in place ensures a tenant mix that will provide a unique retail experience.

Photo credit: Laguna North Lakes/lagunanorthlakes.com.au

Take a look at the future beating heart of North Lakes… Laguna.
Video credit: Pointcorp/YouTube/span>

Approved by the Moreton Bay Regional Council last December 2017, the development project located just 25 kilometres from Brisbane will transform the 1.7-hectare site to a mixed-used precinct.

The development features:

  • 138-room hotel
  • 10,500 sqm A-grade office space
  • 2,000 sqm health and wellness facilities
  • 2,500 sqm function and event centre
  • 3,000 sqm “resort -style” restaurant and bar
  • 5,000 sqm fashion, food, and beverage, as well as a restaurant precinct
  • publicly accessible aquatic centre with a lagoon-style pool
  • On-street and underground parking that can accommodate over 900 cars

Pointcorp Laguna North Lakes Fly Through

Video credit: Metropolis/Vimeo

Photo credit: Laguna North Lakes/lagunanorthlakes.com.au

“The Laguna North Lakes project, will be creating a vibrant new retail precinct for Northern Brisbane, centred around a tree-lined, pedestrian-orientated high street. The innovative outdoor retail precinct will form the central spine of the 1.7-hectare project. Leasing of retail space has commenced and Mr George added that the project is already seeing a wealth of interest from locally-based and national retailers who are seeing the benefit of opening operations in the growing region,” the Laguna North Lakes website said.

Slated to be completed by late 2020, the Laguna North Lakes project is set to deliver an extraordinary mixed-use precinct to this fast growing suburb that has been attracting residents, students, and commercial businesses over the past decade.

Officeworks North Lakes Sells on a 10-year Lease-Back with a Record-Setting Yield

The newly-opened Officeworks in North Lakes has been sold on a 10-year lease-back for $7.093 million, reflecting a record 4.8 percent yield. The sale is believed to be the new national benchmark yield for a freestanding Officeworks shop.

Officeworks , one of the leading retailers and suppliers of office products in Australia, recently opened their 165th store in North Lakes to the public last 30th of June and was officially launched on the 6th of July.

 

Strategic Location

North Lakes Aerial Image
(Photo credit: www.stockland.com.au)

The sale was closed to a private Melbourne-based investor that was represented by Joel Wald of MMJ Real Estate. Savills agents Peter Tyson and Jon Tyson facilitated the sale in behalf of Officeworks Limited.

The sale attracted more than 180 separate enquiries and multiple offers across Australia. Officeworks’ single tenant investment attribute sparked the hot sale competition.

“… New single tenant investments with long lease security and blue-chip covenants such as Officeworks are highly sought after by the marketplace due to their bond-like attributes,” Peter Tyson said.

Photo credit: Bunnings Warehouse

Officework’s location in the North Lakes Business Park is viewed as strategic due to the rapid growth of the North Lakes area, something that has retailers lining up to be in the precinct. According to Mr. Tyson, the list of retailers includes Queensland’s Costco Wholesale outlet, Queensland’s biggest Bunnings Warehouse, and the IKEA store located near the Westfield Chermside. North Lakes is fast becoming a booming epicentre of urbanisation.

 

North Lakes as a Fast Growing Suburb in Queensland

According to data released by the Australian Bureau of Statistics (ABS), North Lakes is the fastest growing suburb in Queensland and the fourth in Australia, expanding by nearly 40 percent over the course of five years.

In recent years, North Lakes has seen several significant developments. Ever since Bunnings, Costco Warehouse, IKEA, and Westfield North Lakes began operating, the North Lakes Business Park has been a big source of jobs. Adding to the market is Officeworks that also opened its doors to employment this year.

These infrastructure developments appeal to many people. North Lakes’ location just 25 kilometres from the Brisbane CBD and excellent transport access make it a popular destination, with the suburb seeing a large number of centre visits each year.

North Lakes also has the highest number of house sales in the Brisbane region for the year to date, as Corelogic data shows. Home values have grown in the past five years with a median house price of $478,000.

It’s no surprise that North Lakes is enjoying dynamic growth. It seems that developers in the area make sure that there are enough developments every year to supply the needs of the growing suburb.

“… North Lakes is one of Australia’s largest and most successful master planned communities, and has become the epicentre of the high-growth urban corridor north of Brisbane,” Mr. Tyson said.

Photo credit: www.lagunanorthlakes.com.au

As if to drive home the point, Laguna North Lakes, a $250 million mixed-use development project, is expected to open in late 2017.

Laguna North Lakes Development Hailed as Brisbane’s New, World-Class, Mixed-Use Precinct

Heads up North Lakes peeps, a new, one-of-a-kind destination is coming to town! The George Group and local developer Pointcorp have recently announced their joint venture for the “Laguna North Lakes” development project. Conveniently located adjacent to Westfield at 40 North Lakes Drive, this project’s master plan has just been finalised. Construction will begin in early 2018 with a scheduled completion in mid-2020.

In deciding to build Laguna in the area, The George Group has given North Lakes a massive vote of confidence. As a fast-growing community with increased levels of commercial investment and population growth made up of young couples and families, North Lakes does seem to be an ideal location for the project.

With the recently completed Redcliffe Peninsula Rail Line, North Lakes has become very accessible and increasingly desirable to growing businesses. The opening of Laguna North Lakes will also open more doors for employment and businesses that will affect the North Lakes community positively, increasing commercial investments and employment rate.

 

Laguna North Lakes is the next James Street

James Street, Fortitude Valley’s iconic retail precinct
(Photo credit: www.espresso-and-matcha.blogspot.com)

George Group is the team behind Fortitude Valley’s iconic James Street precinct. Seeing Brisbane’s James Street as one the most successful retail precincts in Australia, George Group Director Peter George is determined to create a next-level mixed-use precinct, not just for the North Lakes community, but for the whole Australia as well.

“Leveraging our twenty-year history creating and sustaining Fortitude Valley’s James Street, one of the most successful retail precincts in Australia, we’ll be creating a brand-new, world class mixed-use precinct,” Mr. George said.

 

The Master Plan

Soon to rise “Laguna North Lakes”
(Photo credit: Laguna North Lakes/Facebook)

The $250 million Laguna North Lakes project is a mixed-use development that will blend commercial, industrial, and institutional uses with integrated functionality. Laguna will be the newest one-stop destination for the North Lakes community to relax, shop, work, eat, drink, and play round-the-clock.

“We’ve worked tirelessly with the design team to create an exciting new location alternative for companies requiring highly functional office space, supported with a diverse retail offering as well as health and wellness facilities that will maintain a high level of employee engagement,” Pointcorp Director Chris Vitale said.

An artist impression of the retail hub
(Photo credit: www.lagunanorthlakes.com.au)

The development’s 1.7 hectare land will be divided into different areas. Laguna’s two towers, a 10,500 square meter area, will be built just for the A-grade offices, in accordance with the highest environmental standards. Over 900 car parking spaces, both on-street and underground, and accessible public transport links, will also be built as a priority undertaking, to provide ease of access for both the employees and clients.

Some of the highlights are the retail facilities for fashion boutiques, restaurants, and cafes that will cover the 5,000 square meters area with a shaded green pathway, the 2,000 square meters area dedicated for the gym and other health and fitness facilities, the 140-room hotel that will soon rise in the community.

An artist impression of the Lagoon Pool
(Photo credit: www.lagunanorthlakes.com.au)

To further bolster Laguna’s potential as the next family destination in 2020, a childcare centre is also a part of the plan. This will also be the home of the Lagoon Precinct, the facility for the large lagoon pool, a zero-depth recreational play area, and a swimming school, with a resort-style bar and restaurant.

The opening of Laguna North Lakes will also mark the opening of the largest function space in North Lakes with an area of 2,500 square meters. According to the plan, the function hall will provide a “flexible space for all types of events”.

Laguna North Lakes is now ready for leasing
(Photo credit: laguna North Lakes/Facebook)

The leasing campaign has already been launched, and Laguna North Lakes’ construction marches on according to schedule. Updates and leasing opportunities can be viewed on their website or on their Facebook page.

 

Laguna North Lakes Facebook