Retail and Mixed-Use
The Shaw Business Park is situated on a 25 hectare site fronting the Bruce Highway in Deeragun, Townsville.
The business park has been granted a development approval by Townsville City Council and on completion will comprise approximately 23,200 sqm of retail showroom floorspace as well as up to 47 light and service industry lots. The client did not want to develop the proposed development and as a result was seeking to position the property to achieve a fair sale price.
DMA Partners was commissioned by Stateland to undertake an independent site and market assessment and a design and feasibility assessment for the proposed development. This allowed DMA Partners to gain a better understanding of the key drivers in the region such as population growth, demographics, retail expenditure and competitive developments as well as providing comfort to the client by peer reviewing an existing report that had been completed for the development scheme.
The market assessment provided insight into the current and future market in Townsville for the proposed land uses as well as identify key commercial drivers such as large format rental rates and sales rates for light and service industry lots. The design and feasibility component was used by the client as the basis for future options analysis and to inform pricing and subsequent decision making going forward.