The George Group and Pointcorp to create $250m North Lakes development
The George Group and local developer Pointcorp announced plans to for a new $250 million development in Brisbane's North Lakes.
The new project known as Laguna will feature more than 10,500 square metres of commercial office space, 5000sq m of fashion, food and beverage retailers, as well as a 140-room hotel, a range of community facilities and a large function and event centre.
The George Group known for developing Brisbane's James Street have enlisted architects Richards and Spence in conjunction with Nettleton Tribe to design a unique tree-lined, pedestrian-orientated high street that will form the central spine of the 1.7-hectare precinct, located in the centre of the North Lakes CBD.
George Group director, Patrick George said the project will create a leading lifestyle and entertainment destination for not only the surrounding residents of North Lakes but also the whole of the Brisbane metropolitan area.
"Over the past 20 years, we've learnt a lot creating and sustaining the iconic James Street precinct, one of the most successful retail destinations in Australia," Mr George said.
Major business such as Costco and Ikea have already established themselves in North Lakes and the University of the Sunshine Coast has recently announced its plans to create a new 200-hectare campus there.
Pointcorp director Chris Vitale said the expertise of both the George Group combined with that of Pointcorp would underpin a successful delivery of the project and that the quality of product would attract employees to the area.
"Laguna is set to become an exciting 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," Mr Vitale said.
Construction is planned to commence in early 2018.
This story originally appeared in The Australian Financial Review.
Written by Matthew Cranston.