Attraction of Retail
INNER Brisbane apartment buyers have been coming out in force since FKP unveiled its plans to extend the Park Rd restaurant and cafe precinct by developing a vibrant ground floor retail promenade at the base of its groundbreaking $210 million "The Milton" project.
The diversified property group has seen a spike in inquiry from buyers - particularly owner occupiers - looking to capitalise on the lifestyle opportunities and high level of amenity that will be on offer, according to FKP senior development manager Gino Mollo.
He says there has also been strong interest from retailers keen to secure a spot along Railway Tce, which will be transformed in line with the construction of the 30 level development.
"Retail inquiry has been overwhelming since we launched the retail promenade earlier this month," Mr Mollo said.
"We have been inundated with inquiry from a variety of retailers, giving FKP a host of options which will help us deliver the best amenity for The Milton and the Milton area.
"FKP will target a diverse mix of boutique food and dining operators for the retail space, to complement the mix on offer along Park Rd and Railway Tce, along with restaurants and bars aimed at capturing the afterwork and residential markets.
"Park Rd is undoubtedly one of Brisbane's most recognised dining destinations and we see the opportunity to build upon that, and with the extension of the retail promenade into Railway Tce, Milton is set to become an iconic destination for entertainment and retail."
The Milton's retail precinct is set to accommodate five retail tenancies, across 1200sq m of retail space.
Mr Mollo says The Milton is meeting the mark with lifestyle buyers due to its prime location and innercity cafe lifestyle, with an existing 160 cafes, bars and restaurants, 75 fashion boutiques and 60 speciality stores, all within a one kilometre radius of the landmark development.
"The Milton offers a truly unique lifestyle, with an unparalleled level of convenience out of the city centre, presenting a rare opportunity for buyers to embrace the best in apartment living," he said.
"Residents will have access to resort style amenities including a leisure deck with pool and barbecues, roof top observation deck, along with a smorgasbord of retail and dining options at their doorstep.
"People are also recognising that this is a rare opportunity to get in at the absolute start of Milton's urban renewal." he said.