Leasing

Greater Springfield Vision

Store Leasing

Orion Town Centre is a leading sub-regional centre. Being an Orion retailer, your business will be associated with the centre's already established attributes:

  • Strong profile location
  • Growing trade area population of young family demographics
  • A convenient centre
  • A safe, friendly and modern centre
  • Experienced and approachable centre management team

 

Leasing Fact Sheet

To download a copy of the Leasing Fact Sheet for Orion Springfield, please click here.

 

Contact Details

For permanent leasing enquiries, please contact:

Leasing Executive: Justin Hayles

Phone: 07 3226 7307

Fax: 07 3229 4993

Mobile: 0408 163 053

Email: justin_hayles@mirvac.com.au

 

Demographic Information

Situational Analysis

Orion Springfield Town Centre is being developed in the south western growth corridor of SE Queensland on the Springfield Greenbank Arterial, a direct exit off the Centenary Highway.

 

The centre, built and owned by Mirvac will be developed and opened in stages, the first of which was 32, 358 sqm and opened in March 2007. It is positioned as a single DDS town centre in the first stages with further development adding retail and bulky goods, therefore eventually developing into a super-regional town centre on completion.

 

The Orion Springfield site forms part of the 320 hectare Springfield Town Centre site, representing some 10% of the total Springfield area. On completion, the total site comprises of:

  • Orion Springfield retail and entertainment centre
  • High density residential development undertaken by Lend Lease representing between 2000 - 2500 dwellings
  • The "Nucleus" business precinct representing 200,000 sqm of commercial space
  • Education facilities including schools and the University of South East Queensland
  • A hotel
  • Health Service

The average growth rate in the total area is expected to be 3.6%pa from 2006-2008, then increasing to a rate of 6.8% beyond, compared with a Brisbane average of 1.1%. Over recent years, growth in the tertiary north-east sector has been particularly strong due to the development of the Forest Lake area. However, in the future, this growth is expected to slow as development approaches capacity. At the same time, growth in the key primary south sector will increase rapidly as residential development forges ahead in the Greater Springfield area. Key estates within this area include:

  • Springfield Lakes containing approximately 12,000 lots developed by Lend Lease
  • Medallist Brookwater, currently accommodating 800 residents, forecast to grow to 7,000
  • Augustine Heights containing 500 lots developed by Stockland
  • Eden's Crossing comprising approximately 1,500 lots

 

Orion is strategically positioned on the Springfield Greenbank Arterial exit of the Centenary Highway, extending from Brisbane's inner-Western suburbs to Springfield. This is currently undergoing extension to the Cunningham Highway and Ipswich-Boonah Road. Due to the rapid accelleration in population growth in the south-west corridor, other major infrastructure works are currently being undertaken or being planned. These works include:

  • Widening of the Ipswich Motorway
  • Upgrade of the Centenary Highway/ Ipswich Motorway Interchange to 3 tiers including provision for the new Springfield rail line from Darra, due for completion in 2009.
  • Provision for a new service road between Centenary Highway/ Ipswich Motorway and Progress Road/ Ipswich Motorway interchanges. This will include an underpass near Wau Road which will provide better access between the motorway and the local road network.
  • A complete public transport study is currently being undertaken to look into future options, infrastructure and services between Ipswich and Sprinfield to cope with the anticipated increase of 180,000 additional people within 20 years.

 

Orion Springfield will trade in a relatively uncompetitive market when considering the primary sector. Potential for strong supermarket and discount department store sales and market share is realistic as provision for both, especially in the core primary sectors is relatively low. Projected market share across the combined primary sectors is estimated at 22.5% and across the main trade area at 17.1%

Trade Areas

The Springfield trade area has been defined to include three primary sectors and two secondary sectors which combine to form the centre's main trade area, as well as three tertiary sectors.

The key features fo the primary sectors are as follows:

  • The primary north east sector incorporates the suburb of Camira and the developed residential are in the north of Springfield, and is bounded by the Centenary highway to the east, Springfield Parkway to the south and Woogaroo Creek to the west.
  • The primary north west sector encompasses the suburbs of Bellbird Park and Redbank Plains to the west of Woogaroo Creek, extending north to Eagle Street.
  • The primary south sector includes the new residential estates immediately surrounding the Town Centre site including the major Springfield Lakes development by Delfin Lend Lease to the north east and the smaller Brookwater estate to the north.

 

Residents throughout the primary sectors will have excellent access to the centre as well as a lack of competing centres within their locale and therefore will be major users.

 

The secondary sectors encompass the established suburbs of Goodna, Redbank, Collingwood Park in the north sector and the suburbs of Greenbank, New Beith, Oxley and Abrade Creeks in the South-east sector. The residents of these sectors will also regularly use the retail facilities provided at Orion, particularly for non-food shopping needs. These secondary sectors combine with the three primary sectors to form the centre's main trade area.

 

The tertiary sectors include the development suburbs of Forest Lake and Ellen Grove as well as residents in the established suburbs of Inala and Durack all lying to the north-east of the centre. The north-west sector is a large region incorporating the main urban areas within approximately 5km of the Ipswich Town Centre. Of particular note is the tertiary south-west sector, to the south of Ipswich incorporating the long-term growth area of Ripley. This sector could potentially operate as a secondary sector for Orion in the future following the extention of the Centenary Highway to the Cunningham Highway.

In general, tertiary sector residents are unlikely to be key customers of the traditional retail facilities at Orion Springfield Town Centre however they must be considered as part of the centre's trade area to reflect the broader draw, the centre's bulky good component, will achieve once open and trading as well as the unique "town centre" environment which will be provided at the site. The total trade area encompasses a broad region in outer south west Brisbane and Ipswich and is well positioned to operate as the major retail focus for residents throughout the region, particularly in the main trade areas.

Drive Time Populations

As a result of the capacity for development in the 10 minute drive time area, the population is forecast to increase by more than 50% over the decade 2001-2011.

The resident population within the 20 minute drive time distance is estimated by Dimasi to be 249,000 by 2006, when Stage 1 of Orion Springfield will be fully operational.

Socio-Demographics

Overall, the characteristics of the market augur well for a propensity to consume and continued growth in retail expenditure. Key shifts and characteristics in the market are as follows:

  • Currently income levels are generally below the Brisbane average, however this trend is changing due to the influx of more affluent residents into the primary sectors through purchase of newly developed housing. The current low income levels reflect the secondary sector suburbs of Redbank and Goodna where the residents earn well below the Brisbane average and due to the higher population in these already established suburbs; the income levels data is slightly skewed. It is evident that income levels have already grown in recent years with income levels up 16% over a ten year period.
  • Home ownership at 69% of dwellings is slightly higher than the Brisbane Benchmark of 62.4%, therefore indicating that the trade area residents have higher than average discretionary incomes.
  • There are an extremely low proportion of residents over the age of 50 years with a particularly high proportion of residents aged less than 15 years. This reflects the high number of young families residing in the area, particularly within the developing areas around Springfield. The average age of primary sector residents is 29.5 years compared with the Brisbane average of 35.2 years
  • There are a high proportion of young families with dependant children, requiring a retail facility whereby to conduct a full weekly grocery shop as well as supplementary services and retail such as regular fashion, homeware, gifts and child products. Correspondingly, there is a very low proportion of lone person households

    •  

 

Other notable socio-economic characteristics of the market include:

  • A higher than Brisbane average of Australian born residents. 80% (IPSW) as opposed to 77% (BNE)
  • Unemployment rates on par with the Brisbane average. 8.4% (IPSW) compared to 8.2% (BNE)
  • A slightly higher than average proportion of residents who own one or more vehicles. 90.8% (IPSW) as opposed to 90.7% (BNE)

(Source: Ipswich City Council Demographic Profile 2001 and Orion Market Assessment prepared by Dimasi October 2004)

Age Distribution

Family Type

Household Income