The neighbourhood shopping centre is demonstrating its resilience as an asset class, with work commencing on a new $45 million project in the Queensland suburb of Moggill, west of Brisbane.

Developed through Consolidated Properties Group, in conjunction with Newground Capital Partners, The 6100 square metre retail centre will house a brand new, large 3500 square metre Coles Supermarket, 18 specialty stores and a first-floor office component.

Coles Moggill Village will also be situated on a flood-free site. 

The works are being undertaken by Hutchinson Builders, generating 200 jobs in construction.

Source: Consolidated Properties Group 

Once operational, it is expected that the centre will create 120 jobs at Coles and another 50 positions within specialty retailers.

Consolidated Properties Group Head of Retail Kieran Cox said the new centre was welcome news for the Moggill and Bellbowrie communities. 

“Population growth in the catchment area has grown significantly and with the strong prospect of continued growth into the future, Coles Moggill Village is a necessary addition,” he said. 

“The centre will include a larger than normal 3500 square metre Coles Supermarket ensuring the community is well serviced in terms of product range and availability along with a selection of specialty and food and beverage operators to help fill the current void in the area.” 

“We’ve already secured a number of tenants to date including a fruit shop, delicatessen, restaurant, pharmacy, news agency, post office and café so there are only a handful of tenancies remaining.” 

Newground Capital Partners Managing Director Daniel Erez said the development of Coles Moggill Village demonstrated the strength and resilience of the Neighbourhood Centre asset class due to its ability to withstand typical market movements and also not so typical movements, such as those experienced during the recent pandemic. 

“The region is booming with strong population growth and an average household income 30 per cent above the Brisbane average," he said.

“We have a great opportunity to meet the retail gap in the area whilst providing investors with access to a defensive asset class that generates income underpinned by a national supermarket tenant.” 

Construction is expected to be completed by mid 2021. 

Coles Moggill Village is located at 3366 Moggill Road and will offer 315 car parks. Limited tenancies remain ranging from 50 – 150sqm.

For leasing information contact JLL’s Taylor Macri via the details provided below.

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