Springfield City Group has announced another exciting new commercial real estate development after the completion of construction on The Zones
The Zones has been finished on time, featuring 22 strata-titled units for mixed use including retail, office, warehouses, a café and a gym. The Zones includes hybrid units with office and warehouse space.
All but three of the units have been sold, showcasing the demand from small and medium enterprises in the Springfield city area. The Zones already complements two neighbouring strata projects by Springfield City Group that fully sold a combined 25 units.
Prices for The Zones varied from $4600 per sqm for warehouses to $5700 per sqm for showroom tenancies and $6500 per sqm for ground-floor office space. Units ranged between 55sqm and 296sqm in size.
In response, Springfield City Group has announced plans for a new neighbouring development on Success Circuit featuring 18-20 units from 100sqm to 150sqm.
Springfield City Group’s Sean Ranchigoda said small and medium businesses were finding Springfield an ideal area for commercial premises.
“There is increasing demand for units that can be purchased by small and medium businesses who understand the benefits of this area,” Mr Ranchigoda said.
“Our next development will cater for requests from potential buyers with more warehouse options along with office space and other uses.
“These projects are being developed consistently to meet the demand in this area. The demand continues to come mostly from local buyers who want to purchase over leasing.”
The Zones is bound by Technology Drive, Gateway Drive and Success Circuit, offering three-street frontage.
ICM Construction completed The Zones according to the construction schedule while the development was marketed by Springfield City Group and Raine & Horne Commercial.