Geonicle

A DESTINATION OF DISTINCTION

Geon Property has lodged two development applications for Albion Exchange – one of Queensland’s largest inner-city urban redevelopments in recent years. Albion Exchange is set to bring new life to surplus and underutilised land near Albion train station.

Submitted to Brisbane City Council in August and October respectively, our stage one and masterplan applications seek approval for a transformative, mixed-use development spanning four-hectares of land, with the Albion Train Station at the heart of the renewal.

Before lodging the development applications, Geon Property held community events and distributed project material, reaching more than 10,000 community stakeholders. We shared our vision and we learned more about what the community needs and wants.

We have also coordinated several collaborative design workshops with experts including disability and accessibility advocates; urban planning, architecture and landscape design professionals, communication and brand specialists together with public transport user representatives.

All of this input has been invaluable in helping us to shape future plans.

Stage one will feature two slender, glass-clad residential buildings standing prominently above commercial and retail space. However, it’s the public open space features of Albion Exchange which we believe will be the defining elements. Stage one covers 6,458 sqm and more than 4,900 sqm of this space will be public open space for community use.

Beyond stage 1, the overall masterplan creates opportunities to meet future community needs, and may feature uses such as education, health care, child care, retirement living and aged care facilities, residential housing, retail tenancies, together with high-quality dining and lifestyle facilities.

Albion Exchange will create a new common ground for Albion, bring a new vibrancy to the suburb, and indeed broader north Brisbane.

What’s next?

We want Albion Exchange to be a dynamic, diverse and contemporary community hub which is why, over the next few months, we will be consulting with local businesses to include them in our site visioning process. This will help us understand the commercial drivers, which will underpin the success of Albion Exchange, and also ensure that we contribute to the revitalisation of commerce in Albion generally.

We have also presented our proposal to all three levels of government and will continue to liaise with authorities and advocacy groups, such as Bicycle Queensland, to see how we can deliver the best and most accessible outcome for Albion.

For more information, visit the Albion Exchange website. You can also listen to Geon Property CEO Ben Griffin’s interview on ABC Breakfast radio here.

IT’S RETAIL ALL THE WAY FOR GEON PROPERTY IN TOWNSVILLE

It is all systems go for retail in Townsville with Geon Property receiving development approval for the new $33m Riverway Plaza and the signing of new tenants for Fairfield Homemaker Centre in Idalia.

Riverway Plaza development manager Julia Foster-Massie said stage one of the Manolis family-owned project was due for completion in late 2019 with the centre featuring a new 3,500m² Woolworths supermarket, two specialty stores and a drive-thru fast-food tenant.

Negotiations have commenced with local builder Phoenix Constructions.

With stage one due for completion in 2019, plans are already underway for construction of stage two which will deliver an additional 1600m² of supporting specialty retail. Stage two is due for completion in mid-2020.

Meanwhile, mixed-homewares retailer Lincraft has opened a 1,000m² concept store in stage two of Fairfield Homemaker Centre at Idalia, alongside Tradelink and Nutrition Warehouse. Queensland X-Ray and Cyrus Rugs will also join the major retailers when it opens early next year.

To celebrate this major milestone, the centre launched the holiday season with a family fun night on Thursday 29 November. The event included extended shopping hours and instore promotions, food trucks, free entertainment and a visit from none other than Santa Claus himself.

THE CHANGING FACE OF LARGE FORMAT RETAIL

One of the key attributes of our people is curiosity.  We encourage every team member to explore, investigate and invest in lifelong learning. In keeping with this spirit, development manager Glen Wright was recently awarded an opportunity to tour Japan after winning the 2018 LFRA (Large Format Retail Association) Overseas Study Tour Scholarship.

Here, Glen shares with us three lessons he learnt from Japan’s large format retail and infrastructure landscape.

Lesson 1 – A decline in population growth doesn’t mean a decline in retail

Japan’s population growth rate has been declining since the early 1970s – and the deficit isn’t being made up by significant levels of immigration as it is in some other nations.

Despite these demographic pressures, Japan’s retail economy is growing. According to CBRE, Tokyo has a 96 per cent occupancy rate. After many decades facing a large deficit in tourism, Japan is now back in business thanks largely to travelling Chinese tourists who are contributing to the country’s retail account surplus.

Lesson 2 – Entice shoppers upwards

The floor space demands of international retailers continue to grow but they face increasing restrictions on available space, at least with retail in its current format. Nowhere is this more evident than in Tokyo. However, Japan has adopted “vertical retailing”, and is enticing shoppers upwards by placing food and beverage outlets in top floor tenancies. Watch this space. It may be a sign of things to come in Australia.

Lesson 3 – Concentrating growth around transport hubs does more than finance capital infrastructure

The concept of mobility is one of the important preconditions for urban planning and when it comes to interconnectivity, Tokyo is top of the class. By encouraging private industry and transit operators to collaborate, Japan has facilitated the development of more dense mixed-use areas around transit stations that make a great contribution to place-making and city community building.

SPOTLIGHT ON RETAIL IN TOWNSVILLE

Work is about to begin on the Riverway Plaza centre upgrade, with ground to be broken early this month. This major upgrade to the centre is expected to generate up to 250 jobs during construction, with the local contractor Phoenix Constructions targeting 100% local tradespersons.

The redevelopment will be undertaken in two stages. The first stage will include the construction of a new larger Woolworths, space for specialty stores, an amenities centre, a new carpark and a drive-through food and beverage outlet. The second stage will include demolition of the existing Woolworths, making way for more specialty stores.

We expect the new Woolworths to open its doors in mid-2020, while the remainder of construction is expected to run until early 2021. Read more about this news in the Townsville Bulletin.

FHC REOPENS WITH SUPER SATURDAY SALE-A-THON

To celebrate being back in business after a mammoth post-flood clean up, the Fairfield Homemaker Centre recently held its Super Saturday Sale-a-thon. The one-day event was filled with huge discounts from centre retailers, in store activities and giveaways, and food trucks.

We would like to thank those who came out to enjoy the festivities and supported those businesses who have been through difficult times this year.

Beyond the Super Saturday event, retailers in the southern Townsville area have been achieving strong results, with Lincraft Fairfield Homemaker Centre recently awarded the “highest dollars per basket” out of all Queensland stores in May, Tradelink Fairfield Homemaker Centre and neighbouring Bunnings Fairfield reporting sales figures which are exceeding forecasts.

GEON PROPERTY MANAGEMENT & LEASING PORTFOLIO EXPANSION

In response to the demand for retail managers with landlord insight and broader skills in property development, Geon’s Property Management & Leasing portfolio has expanded to include two additional assets in Brisbane’s north: 148 Station Road, Burpengary and Banyo Retail Centre.

148 Station Road is a service station and drive-through restaurant complex with head leases to 7-Eleven, Hogs Breath Express and IMO Car Wash. Located in a growing trade area between Caboolture and North Lakes, the centre is exposed to large volumes of traffic from nearby retail, education and government facilities, and from its close proximity to the Bruce Highway.

Banyo Retail Centre is a 5,537 square metre neighbourhood shopping centre located in the heart of Banyo approximately 15km north of Brisbane’s CBD. The centre is anchored by a full line Woolworths Supermarket and supported by 15 specialty stores, providing everyday convenience for the local community.

Did you know?

148 Station Road and Banyo Retail Centre are the third and fourth assets to be added to Geon’s Property Management & Leasing portfolio this year, following the addition of Springwood Shopping Mall and Morningside Central in February. Geon now has over 56,800 square metres of property under management, including 176 tenancies.

Geon Property Management & Leasing, led by Ashley Moffat, offers specialty services across property management, leasing services, property accounting and facilities management. With a strong history in retail and commercial property management across the state, Geon has both a broad tenant network and a proven track record of managing profitable investments.

GEONERGY UPDATE: OXFAM TRAIL WALKER

Following the recent launch of Geon’s wellness program, Geonergy, team members have embraced the focus on health and personal wellbeing by partaking in cooking and nutrition classes, and mindfulness sessions, with yoga and personal training sessions to follow. Geon is excited to announce that it has combined health goals with community support and entered two teams in this year’s Oxfam Trailwalker event which took place last Saturday.

Geon team members Ben Griffin, Susan Mercer, Tim Rossberg, Glen Wright and Alejandro Hogan-Griffin represented team “GEONergy” and team “ColleaGEONs” for the 55km hike through gruelling terrain.

SUPER-NEIGHBOURHOOD CENTRES TO REINTRODUCE A ‘SENSE OF PLACE’ TO OUR COMMUNITIES

Super-neighbourhood centres to reintroduce a ‘sense of place’ to our communities

Driven by population growth and changing consumer preferences, the latest sub-sector in retail assets – the super-neighbourhood centre – has the opportunity to reimagine local shopping centres and reintroduce a ‘sense of place’ to our communities.

While emerging conceptually in recent years, this asset class is cutting its teeth on the first wave of new developments and centre upgrades as many watch to see whether they’ve got the formula right.

Super-neighbourhood centres

While typically occupying a similar footprint to sub-regional centres, between 10,000 and 25,000 square metres, super-neighbourhood centres bring a different tenant mix and design approach.

Geon Property’s General Manager of Property Management and Leasing Ashley Moffat says super-neighbourhoods have a tenancy mix similar to neighbourhood centres, but with an increased focus on locally curated retail and service offerings aimed at creating a sense of community.

“Super-neighbourhoods provide the core convenience retail people rely on, integrated with a community-focused mix of offerings such as dining and fresh food, entertainment, leisure, essential services and unique local retailers,” Mr Moffat said.

“Beyond tenancy mix, these centres are designed to provide a place for people to come together in an authentic way, and to give the community a sense of ownership over the space.”

Genuine community ownership

While the design of modern centres generally makes room for visitors to come together, socialise or relax, super-neighbourhood centres place greater emphasis on not only providing community space, but also opportunities for people to meaningfully engage with that space.

Mr Moffat said “Depending on the needs and preferences of a community, super-neighbourhoods may include offerings like lounge areas, community gardens and play areas.

“The success of a centre also hinges on achieving the right tenancy mix, with super-neighbourhoods needing to target the right range of tenants – and this can be anything from local and specialty retail, to specific services such as childcare centres, co-working spaces and yoga studios, depending on local preferences and demand.

“Central to giving people a sense of ownership over a space is conducting meaningful community engagement to give people a voice into the form that their local shopping centre is taking.”

Signature neighbourhood style

Successful super-neighbourhood centres will go beyond understanding local demographics, LGA statistics and spending patterns – they will appreciate the geographical surroundings, the history of an area and the identity of a community.

According to Mr Moffat, showcasing the signature style of a neighbourhood may extend to experimenting with a centre’s approach to leasing.

“Unique neighbourhoods might present opportunities to take on untraditional tenants, use spaces differently and offer alternative leasing arrangements such as short-term agreements or shared premises,” Mr Moffat said.

“The design of a super-neighbourhood centre should also be an extension of the local area.

“These centres should work with local amenities and infrastructure, complement the local streetscape and not feel generic or unoriginal.”

The bottom line

Some have tipped that this emerging asset class will outperform other shopping centre classes in the coming years, with categories like food and beverage, retail services and convenience typically performing better than categories such as apparel[1].

Others have commented that super-neighbourhoods have the capacity to deliver higher and more consistent sales through the more stable, regular shopping habits of local markets[2].

Mr Moffat said the heightened sense of community ownership may influence centre profitability.

“We all know that many people like to shop local and support local businesses, but if a community has had input into the delivery of a centre, they may be more likely to support that centre on an ongoing basis,” Mr Moffat said.

“The recent opening of Hope Island Marketplace and the Pimpama City Shopping Centre, both in the rapidly growing northern Gold Coast region, will be ones to watch in terms of how the community responds and how the centres perform financially.

“These particular centres are evidence that developers are looking at the new super-neighbourhood model as a way to deliver high quality, community-centred retail to growing regions.”

[1] https://www.shoppingcentrenews.com.au/shopping-centre-news/comment/super-neighbourhood-centres-will-outperform-market-benchmarks/

[2] https://retailworldmagazine.com.au/super-neighbourhood-centres-will-be-star-financial-performers/

GEONERGY LAUNCH

The prevalence of internal wellness programs is increasing as employers recognise the benefits they provide, not only to individual staff wellbeing but also to the business’ bottom line.  The World Health Organisation directly links the success of a business to the health of its workers, stating positive effects of these programs include an increase in productivity and decrease in absenteeism^[i].

With a key focus of Geon’s business being our people, we care greatly about our team’s personal wellness and as a result have developed “Geonergy”. [read more]

Geonergy is a wellness program designed to support our people to be the best version of themselves – both inside and outside of the office. The program has been met with an enthusiastic response from the team and is based on four key pillars:

• Mindfulness
• Yoga
• Nutrition
• Exercise

These elements work in sync to create an all-round approach to wellness and equip our people with the skills to better manage stress and maintain a healthy and balanced lifestyle. The program is voluntary and will run fortnightly comprising a variety of activities including cooking classes, nutrition talks, yoga, team fitness sessions and mindfulness training.

[i] Healthy Workplaces: a model for action, World Health Organization 2010

QUEENSLAND RETAIL EXPANSION

As the demand for innovative retail management grows, Geon’s portfolio has expanded to include two additional Queensland centres; Springwood Shopping Mall and Morningside Central.

Springwood Shopping Mall is a fully airconditioned, subregional shopping centre located 20km south of the Brisbane CBD just off the Pacific Motorway. Adjacent to the Springwood bus interchange featuring shaded on grade and basement car parking, the centre provides great convenience for shoppers.

The centre is anchored by a full line Woolworths supermarket and Target discount department store with 50 specialty stores including EB Games, Flight Centre, Australia Post, National Australia Bank, Millers and Suzanne Grae.

Morningside Central is a convenience based open-air centre anchored by a bustling full line Woolworths supermarket. The retail mix is predominately service-related, including National Australia Bank, medical centre, pharmacy, dentist, deli and greengrocer.

The centre is easily accessible featuring a large, on grade carpark with shade sail protection and bus stops connecting consumers to Brisbane’s CBD. It’s prominent location on the corner of Junction and Wynnum Roads provides high foot traffic and customer exposure.

A DESTINATION OF DISTINCTION

Geon Property has lodged two development applications for Albion Exchange – one of Queensland’s largest inner-city urban redevelopments in recent years. Albion Exchange is set to bring new life to surplus and underutilised land near Albion train station.

Submitted to Brisbane City Council in August and October respectively, our stage one and masterplan applications seek approval for a transformative, mixed-use development spanning four-hectares of land, with the Albion Train Station at the heart of the renewal.

Before lodging the development applications, Geon Property held community events and distributed project material, reaching more than 10,000 community stakeholders. We shared our vision and we learned more about what the community needs and wants.

We have also coordinated several collaborative design workshops with experts including disability and accessibility advocates; urban planning, architecture and landscape design professionals, communication and brand specialists together with public transport user representatives.

All of this input has been invaluable in helping us to shape future plans.

Stage one will feature two slender, glass-clad residential buildings standing prominently above commercial and retail space. However, it’s the public open space features of Albion Exchange which we believe will be the defining elements. Stage one covers 6,458 sqm and more than 4,900 sqm of this space will be public open space for community use.

Beyond stage 1, the overall masterplan creates opportunities to meet future community needs, and may feature uses such as education, health care, child care, retirement living and aged care facilities, residential housing, retail tenancies, together with high-quality dining and lifestyle facilities.

Albion Exchange will create a new common ground for Albion, bring a new vibrancy to the suburb, and indeed broader north Brisbane.

What’s next?

We want Albion Exchange to be a dynamic, diverse and contemporary community hub which is why, over the next few months, we will be consulting with local businesses to include them in our site visioning process. This will help us understand the commercial drivers, which will underpin the success of Albion Exchange, and also ensure that we contribute to the revitalisation of commerce in Albion generally.

We have also presented our proposal to all three levels of government and will continue to liaise with authorities and advocacy groups, such as Bicycle Queensland, to see how we can deliver the best and most accessible outcome for Albion.

For more information, visit the Albion Exchange website. You can also listen to Geon Property CEO Ben Griffin’s interview on ABC Breakfast radio here.

IT’S RETAIL ALL THE WAY FOR GEON PROPERTY IN TOWNSVILLE

It is all systems go for retail in Townsville with Geon Property receiving development approval for the new $33m Riverway Plaza and the signing of new tenants for Fairfield Homemaker Centre in Idalia.

Riverway Plaza development manager Julia Foster-Massie said stage one of the Manolis family-owned project was due for completion in late 2019 with the centre featuring a new 3,500m² Woolworths supermarket, two specialty stores and a drive-thru fast-food tenant.

Negotiations have commenced with local builder Phoenix Constructions.

With stage one due for completion in 2019, plans are already underway for construction of stage two which will deliver an additional 1600m² of supporting specialty retail. Stage two is due for completion in mid-2020.

Meanwhile, mixed-homewares retailer Lincraft has opened a 1,000m² concept store in stage two of Fairfield Homemaker Centre at Idalia, alongside Tradelink and Nutrition Warehouse. Queensland X-Ray and Cyrus Rugs will also join the major retailers when it opens early next year.

To celebrate this major milestone, the centre launched the holiday season with a family fun night on Thursday 29 November. The event included extended shopping hours and instore promotions, food trucks, free entertainment and a visit from none other than Santa Claus himself.

THE CHANGING FACE OF LARGE FORMAT RETAIL

One of the key attributes of our people is curiosity.  We encourage every team member to explore, investigate and invest in lifelong learning. In keeping with this spirit, development manager Glen Wright was recently awarded an opportunity to tour Japan after winning the 2018 LFRA (Large Format Retail Association) Overseas Study Tour Scholarship.

Here, Glen shares with us three lessons he learnt from Japan’s large format retail and infrastructure landscape.

Lesson 1 – A decline in population growth doesn’t mean a decline in retail

Japan’s population growth rate has been declining since the early 1970s – and the deficit isn’t being made up by significant levels of immigration as it is in some other nations.

Despite these demographic pressures, Japan’s retail economy is growing. According to CBRE, Tokyo has a 96 per cent occupancy rate. After many decades facing a large deficit in tourism, Japan is now back in business thanks largely to travelling Chinese tourists who are contributing to the country’s retail account surplus.

Lesson 2 – Entice shoppers upwards

The floor space demands of international retailers continue to grow but they face increasing restrictions on available space, at least with retail in its current format. Nowhere is this more evident than in Tokyo. However, Japan has adopted “vertical retailing”, and is enticing shoppers upwards by placing food and beverage outlets in top floor tenancies. Watch this space. It may be a sign of things to come in Australia.

Lesson 3 – Concentrating growth around transport hubs does more than finance capital infrastructure

The concept of mobility is one of the important preconditions for urban planning and when it comes to interconnectivity, Tokyo is top of the class. By encouraging private industry and transit operators to collaborate, Japan has facilitated the development of more dense mixed-use areas around transit stations that make a great contribution to place-making and city community building.