A booming new development in Australia’s fastest growing economy is on the hunt for eagle-eyed entrepreneurs, as Eastern Creek Quarter stage two kicks off.
Situated in the thriving hub of Western Sydney, the second stage of the large-format retail destination adds a further 11,600sqm of retail space, with 20 to 25 tenancies ranging from 250sqm to 2500sqm, in addition to 350 on-grade car parks.
According to Tim Moore, general manager – retail leasing for developer Frasers Property Australia, the Eastern Creek Quarter stage two development offers a range of new opportunities for those looking to snap up a retail space in a developing region.
“The fundamentals for large format retailers and showrooms at Eastern Creek Quarter demand real consideration,” Moore said.
“Stage 2 of ECQ is a prime opportunity for progressive, premium quality large format retailers to establish a high-profile presence in a connected location in Western Sydney’s new retail heartland.”
Western Sydney growth
Eastern Creek Quarter stage two comes off the back of significant developments for the Western Sydney region.
Projects such as the $20bn, 33km WestConnex motorway are linking the area with the Sydney airport, granting domestic and international guests easy access to the developing cultural hub.
Stephen Rose from Commercial Property Guide said that the influx of new entrants was certain to swell interest in new developments such as the Eastern Creek Quarter project.
“Population growth is the main reason for rising commercial property prices, both for lease and for sale prices,” Rose said.
“The firm commitment to the Western Sydney airport has started an upward move in the wider precinct commercial property prices, particularly industrial property prices.”
Moore agreed, suggesting that significant investment in the local infrastructure was a major boon to the region.
“The site itself is easily accessible, with 11.2 million vehicles travelling along the Great Western Highway annually, and the population in the main trade area is undergoing significant growth,” he said.
Eastern Creek Quarter stage two
According to LocationIQ, the figures look strong for Western Sydney’s latest development, with the trade area expected to grow to $23.6bn by 2036. It follows a growing trend of affluent young families making their way to the region in search of more affordable family housing.
Cameron Henshaw, managing director of leasing campaign coordinator Retail Projex said he expects the Eastern Creek Quarter stage two development to garner similar results to those seen in stage one.
“The new large format retail and showroom offer is an ideal complement to Stage 1 at ECQ, which will be launched soon, offering the local community and broader Western Sydney new levels of convenience and choice in a comfortable, sustainable and exciting atmosphere,” He said.
“ECQ is a landmark project for Western Sydney and we’re pleased to assist Frasers Property in the leasing of Stage 2, bringing to market 11,600 sqm of large format showroom space, where we are seeking interest from a range of quality retailers eager to make their mark in this high-profile location.”
Eastern Creek Quarter stage two is now seeking homewares retailers, automotive specialist, pet supply stores and other showroom retailers to fill the mix.