In the heart of the Greater Springfield commercial district, a new development called ‘The Zones’ is capturing the attention of businesses looking to secure their own premises.
With over 50,000 residents, 15 schools, 25 kindergartens, and key institutions like Health City and the University of Southern Queensland, Greater Springfield continues to flourish around the pillars of health, education, and IT in its 31st year as a master-planned community.
The project, which offers a mix of commercial spaces for purchase, is gaining significant traction with only five units remaining as construction progresses steadily towards its scheduled completion at the end of this year.
Developed by Springfield City Group, The Zones has already formed a diverse community of tenants, ranging from a café to a gym, creating an atmosphere that reflects the project’s mixed-use concept.
Mr. Sean Ranchigoda, a representative of Springfield City Group, emphasised the increasing demand for units that can be owned by small and medium-sized businesses.
“We developed Hub 23 in the same precinct with 10 units that were quickly snapped up. That was a warehouse-based complex, whereas The Zones provides a mix of options now being demanded by the market,” Mr Ranchigoda said.
Prices for The Zones’ units vary based on the type of space, with warehouses priced at $4,600 per square meter, showroom tenancies at $5,700 per square meter, and ground-floor office space at $6,500 per square meter. The units themselves range in size from 55 square meters to 296 square meters, catering to a broad spectrum of business needs.
“These projects are being developed every few years in this area to meet the demand,” Mr Ranchigoda explained. “And the demand is mostly coming from local buyers who understand the benefits of purchasing units compared with leasing.”
The Zones occupies a strategic location bounded by Technology Drive, Gateway Drive, and Success Circuit, offering three-street frontage that further enhances its appeal to businesses.
ICM Construction, the construction firm responsible for the development, has set a completion date for The Zones in November 2023. Springfield City Group, in partnership with Raine & Horne Commercial, is actively marketing the project to potential buyers.