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What will this $40m Shopping Centre Redevelopment Mean for the Suburb?

Friday June 29, 2018 ● By Chelsea Keim // Place Coorparoo

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The bustling suburb of Sunnybank and its surroundings are predicted to see major growth in popularity with the $40 million redevelopment of the infamous Market Square.

Intended to bring new retailers to the area, it’s expected the development will see Market Square more popular than ever. With a fresh facelift will come more business opportunities for the suburb, a forecast growth in property demand and extensive lifestyle facilities.

Screen Shot 2018-06-28 at 10.43.02 amPhoto Credit: Kevin Chiu YouTube video

With the development of the four story commercial space, Sunnybank Hills expert, Kevin Chiu, believes local business will become stronger and increase in popularity.  

“With the additional four stories of retail space added to an already extremely busy spot, we can expect that the businesses operating from Market Square will see growth with an influx of people commuting to the shopping centre.”

“This should also provide immense opportunities for small and new business owners who get a space in this extremely popular shopping centre,” says Mr Chiu.

render1Photo Credit: The Urban Developer

In terms of property demand, it’s expected the number of people relocating to this suburb could increase once this development is complete.

With construction of this project currently underway, Mr Chiu has already seen an increase in property demand and prices in Sunnybank.

“After many years of talk about the project, the DA finally got approved by the Brisbane City Council in September 2016. Almost straight after this happened we saw a low set family home with no renovations break a record price, selling for $1.56 million.”

“From that we can predict that the property market will remain strong throughout construction of Market Square and increase in demand even more, once the project is complete,” says Mr Chiu.

The lifestyle of Sunnybank is renowned for its hustle and bustle. With the upgrade, it goes without saying that greater appeal will be placed on the suburb from both locals and visitors.

5-4Photo Credit: The Urban Developer

After completion, project developers, ADCO, are confident the brand new Market Square will be the answer to Sunnybanks long-term sustainability and the magnitude of this suburbs popularity will be far beyond prediction.

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