Retail site set to deliver convenience to Mango Hill residents

13 May 2019

A 12,300sq m DA approved corner site in Mango Hill has been sold for a future shopping centre development.

The property was sold to a local developer for $3.92 million in a deal negotiated by Peter Tyson and Michael Harcourt of Savills Retail Investments.

The site is situated at the corner of two main collector roads in the heart of the Capestone Master Planned Community and features a Development Approval for a total lettable area of 4,646sq m, incorporating a convenience based shopping centre with a 1,800sq m supermarket anchor.

Mr Tyson said the property sold off-market via a discreet private placement campaign that received strong interest from select developers who recognised the full site potential.

“Development of the site to fulfil a genuine lack of convenience retail in the Capestone Estate and broader Mango Hill area,

“The site occupies poll position in the Capestone community and will provide a real convenience alternative and point of difference to the congested North Lakes precinct,” Mr Tyson said.

The Capestone community is home to approximately 6,000 residents in the growing suburb of Mango Hill, adjoining North Lakes, a satellite city within 25 radial kilometres north of the Brisbane CBD.

Mr Harcourt said the purchaser has plans to deliver much-needed local amenity to the Capestone and Mango Hill residents.

“In addition to a large supermarket and medical offering, the development is proposed to incorporate a food and beverage-anchored lifestyle precinct overlooking Capestone’s Central Lake,” Mr Harcourt said.

 
 

Key Contacts

Peter Tyson

Peter Tyson

National Director
Retail Investments

Brisbane

+61 (0) 7 3002 8807

 

Michael Harcourt

Michael Harcourt

Senior Executive
Retail Investments

Brisbane

+61 (0) 7 3002 8840