Coles buys into $1.1b housing estate
Coles Group has bought a prominent town centre site at south west Brisbane’s Everleigh estate, which is about a third developed.
The supermarket giant paid $10.75 million for 150 Teviot Road, Greenbank.
Mirvac was the seller.
The pair traded five housing estate sites last year.
One, in Melbourne’s Clyde North, set it back $17m in September.
In a show of how aggressive retailers are to secure growth corridor blocks, that deal came months after Coles acquired a nearby Clyde town centre site from Balcon Group.
Coles cosies up to Woolworths
At 150 Teviot Rd, Coles is planning 6800 square metre neighbourhood shopping centre it will part-anchor (continues below).
Specialty retail, a food court and public space are also planned
Rival Woolworths occupies the first stage of another major shopping centre, recently completed at 251 Teviot Rd.
An Aldi and Kmart are planned for the next stage of that block; an application which was recently lodged with council.
The 481 hectare Everleigh estate is masterplanned for 3450 lots.
Completion is scheduled in 2034/35.
Also today we are reporting Luke Hartman’s Metro outlaid $15.075m for a permit-ready housing estate at 169-187 Teviot Rd – diagonally adjacent to Coles’ site.
Subscribe to our newsletter at the bottom of this page.
