National retailers Coles and Kmart will invest in the local community by taking the lead tenancies in the next generation sub-regional centre, Yamanto Central, located 35km from inner-city Brisbane and 5km south of the Ipswich CBD.
Riding the wave of renewed consumer ‘love’, particularly on the back of its home decor and lifestyle ranges, Kmart Yamanto Central will be the first new Kmart to open in the region in many years. Kmart will take a 6,600m2 tenancy, and Coles will open a 3,920m2 market-style supermarket.
Coles will anchor the centre’s new concept food and market precinct – Market Central, with a full-line supermarket featuring an extensive range of fresh produce and groceries to meet local customers’ needs.
Yamanto Central will also feature over 8,000m2 of specialty, lifestyle and health retailing plus a dynamic outdoor dining and restaurant precinct that will set a new standard for a sub-regional centre. The centre will offer around 950 free carparks (200 on-grade, with the remainder undercover) plus travellators at each end of the centre for convenient access.
DMA Managing Director Ryan Andersen said, “Without question, Kmart is the dominant discount department store of the moment and they’ve made a strategic decision to open a new store in the heart of this booming region.
“Similarly, Coles has taken the opportunity to invest in the Yamanto-Ipswich region and the retailer will be key to servicing the local area which is growing at a rate of 50% above the national average.
“The growth is there now and is forecast to continue over the next 5 and 10-plus years as new developments right on the doorstep of Yamanto Central come online. Quite simply, Coles and Kmart have secured the anchor tenancies in Yamanto Central so that they can meet the needs of the growing population,” he said.
There are already an estimated 44,360 people living within the Yamanto Central primary trade area, the result of an annual growth rate of 2.5% since June 2006. The primary trade area is projected to grow to around 63,000 people over the next 10 years, reflecting an annual growth rate of 3.6% – approximately 50% higher than the national average.
Current data puts the underserviced retail demand in the local area at around 44,000 residents, with growth predictions of 3.6% per annum over the next 10 years.
Andersen said, “Almost two thirds of this growth will come from the new communities sitting right around Yamanto Central, plus there is the continued growth in activity at RAAF Base Amberley. Yamanto Central will redefine the concept of a subregional shopping centre. It truly is next generation retailing.”
By taking the best and brightest ideas from the big super-regional centres and transferring them to the community level, Yamanto Central would create an exciting new lifestyle destination for this rapidly-emerging area to meet, eat, shop and enjoy, Andersen said.
In a further boost to Ipswich’s defence industry, a $5 billion heavy army vehicle manufacturing contract has also recently been awarded to Ipswich, which will create thousands of new jobs for the wider Ipswich region.
JM Kelly Group and DMA Partners recently secured development approval for the 20,000m2 Yamanto Central which is stage one of the planned 25 ha Yamanto Town Centre located on the corner of Warwick Road and Pisasale Drive, Yamanto.