Congratulations to CVS Lane client Josh Foote and his team at Ignite Projects, whose Cabana Palm Beach development, took out the UDIA Queensland Mid-Rise Apartment Development of the Year award. The win follows another gong at the Australian Apartment Advocacy Industry Awards last month, where it won Luxury Development Award 2023.
The project is now in the running for the UDIA National Project of the Year category, to be announced early next year, in a clear reflection of the overall quality of this boutique, beach front residential development.
Both award categories were hotly contested with no less than six finalists nominated, making the awards even more of an achievement. The pure beach front location and the fact that every one of the 34 apartments provides uninterrupted ocean views made Cabana a much-deserved winner of the luxury category.
CVS Lane is pleased to have played a role in the delivery of this award-winning project. Thanks again to Josh Foote and the Ignite team for providing us with the opportunity.
It was very rewarding for all at CVS Lane to see Woolworths open at the YG Riverside Village in south Brisbane on Saturday. Woolworths opened it’s doors to shoppers along with Priceline Pharmacy and BWS amongst others – with a host more to come.
Several years in the making, this milestone is just the start of the YG Retail journey, with more retail outlets, office spaces and dining options still to come. YG Riverside Village is the retail component of the $1 billion master-planned urban renewal project at Yeerongpilly Green.
More than 250 investors gathered across Melbourne and Sydney over the last week for the inaugural CVS Lane Investor Conference.
CEO Lee Centra delivered the Quarterly Update on the performance of our Debt Funds but more importantly the event provided our investors with the opportunity to meet the broader CVS Lane team. Over a drink and bite to eat, we caught up to discuss the state of the market and opportunities on the horizon while we also went “behind the deals” – taking a look at the work goes on to deliver investor returns.
The event was certainly a success and is earmarked to become an annual calendar highlight.
Priceline Pharmacy has become the latest major brand to sign on as a tenant at Yeerongpilly Green Riverside, as the urban renewal project nears completion.
The retail centre is now 85% leased, with the small number of remaining vacancies expected to be occupied by the time the Centre opens in August.
Priceline has secured a 220m2 tenancy opposite Woolworths and BWS, within easy reach of other health and wellness operators including a nail salon, barber, hairdresser and Goodlife Gym.
YG Riverside has also recently signed another eatery – a Vietnamese restaurant – following an earlier commitment from Dapple + Waver, a bar and kitchen specialising in craft beer, boutique wine, artisan coffee and modern Australian cuisine.
The development site at Wilsonton Shopping Centre, one of the six retail assets in CVS Lane’s portfolio, continues to build momentum, with major brand Starbucks opening for business during May.
Starbucks joins 7-11 as a trading tenant, with both to be joined by another global retail giant in the form Petbarn, which also recently signed on.
The development site is closing in on it’s target completion date of the second half of 2023, with the big brands already helping to drive leasing enquiry for the three remaining tenancies at the new 4,018 square metre site.
The development site builds upon the 14, 238 square metre footprint of the existing Woolworths and Coles-anchored shopping centre, held by CVS Lane and CPS since 2018. The Centre delivered another sound sales performance for the March Quarter, reflecting its weighting toward non-discretionary retail tenants.
The addition of the major brands to the Development Site is a good reflection of the attractive location of the asset.
Popular Brisbane bar Dapple + Waver is set to call Yeerongpilly Green home, joining the growing line up at the retail precinct being developed by CVS Lane Capital Partners Consolidated Properties Group.
The bar has been sorely missed by a legion of loyal fans since it closed its doors at the Toombul Shopping Centre last year, following a devastating flooding in early 2022.
It will welcome back its regulars and an entirely new group of patrons when it starts its new life later this year at Yeerongpilly Green, where construction is on the new South Brisbane mixed-use urban renewal project is progressing well.
The precinct will comprise of a modern-full line Woolworths supermarket, boutique offices, specialty retailers, a dining precinct and a major gym and wellness precinct in addition to secure basement car parking.
Dapple + Waver offers grazing plates, pizzas and modern Australian fare for all seasons and occasions, along with a list of crafts beers, wines and cocktails, adding an exciting new dimension to the overall mix at at Yeerongpilly Green.
Dapple + Waver co-owner Aidan McGarrity, who also runs the successful Beyond The Pale bar in Coorparoo, said there had been an outcry of support from the local community when they were forced to close.
“The vast majority of people absolutely loved it and the support we received when we closed was unbelievable,” Mr McGarrity said.
“Everyone jumped on Facebook and were saying this is the biggest loss for Nundah.”
“What we offer is that neighbourhood bar that has a connection to the area where it is based. We would get people coming in every day to Dapple + Waver, and it wasn’t because of the special offers – they wanted to chat and interact with staff that knew them and their favourite drink.”
Mr McGarrity said they already have approved designs for the new venue with the fitout set to last about 10 weeks.
He said the design of YG Riverside Village is “fantastic” with a broad mix of retailers and services on offer.
“We have a diverse range of customers and can host an 18th birthday party and baptism celebration all on the same day, so we love the idea of having the dining, wellness precinct, gym and supermarket all in the one place.”
Mr McGarrity said they were grateful for the support offered by the State Government since the floods shut down their Toombul operation which he said was a “big help”.
Yeerongpilly Green is schduled for completion in the second half of 2023.
Six new tenants have committed to the tenancies at the Yeerongpilly Green Retail hub, joining anchor tenant Woolworths and Good Life gym in the mix of offerings at the $1b development precinct.
Yeerongpilly Green is a joint venture between CVS Lane, Consolidated Properties Group and the Queensland Government to turn 14 hectares of riverfront land into a major urban renewal project in the southern Brisbane suburb of Yeerongpilly, seven kilometres from the CBD.
The first stage will comprise a modern-full line Woolworths supermarket spanning 11,600sqm, one level of boutique offices, specialty retailers, a dining precinct and a major gym and wellness precinct in addition to secure basement car parking.
A raft of new tenants had signed on in the past six months, adding to the momentum the project is building.
Construction of the retail centre by Hutchinson Builders is progressing well. The basement slab is nearly complete, with the first sections of the ground floor level poured and the second level on track to start early in the New Year. The full project is on track for completion in mid-2023.
CVS Lane Chief Executive Officer Lee Centra said Yeerongpilly Green is an urban regeneration project of national significance, given the size and scope of the masterplan vision.
“It’s a mixed-use lifestyle precinct that we expect will re-generate inner south Brisbane and create a new hub of activity that the city has not seen before,” Mr Centra said.
“It is happening at a very significant time with Brisbane undergoing major growth – growth that is going to accelerate, particularly in the build up to the 2032 Olympic Games.”
CVS Lane wholeheartedly congratulates the team at Bronxx, who last week won the prestigious Master Builders Association of NSW Excellence in Housing and Pool award for 2022, for Acqua, a stunning boutique apartment development in Cronulla, NSW.
CVS Lane is proud to have supported Bronxx and Acqua, and having seen the project take shape from start to finish we can certainly confirm this award is richly deserved. Well done to all.
Over the past three weeks CVS Lane has completed seven transactions across NSW and Victoria, totalling around $225 million of new capital invested – the culmination of months of hard work and collaboration between our clients and our team.
In what has been an undoubtedly challenging year for the property sector we’re pleased to continue to support our clients, helping them find the funding solutions that meet the needs of their projects.
Equally we’re pleased to identify quality, risk adjusted opportunities for our investors, maintaining a disciplined approach to capital allocation and working within current market conditions to deliver sound returns.
A major $22 million modern makeover has kicked off on the Great Western Super Centre in Keperra including store expansions and upgrades for the Aldi supermarket, BCF and Anytime Fitness.
Located 10km northwest of the Brisbane CBD, Great Western Super Centre offers 15,400sqm of floor space, anchored by Woolworths and Aldi, alongside six mini majors and 44 specialty stores. The Centre first opened in 2000.
The refurbishment works include a full repaint of the interior and exterior, new amenities including parents’ rooms, an overhaul of the air conditioning system, upgraded entry statements and signage and extensive landscaping works.
The refurbishment follows an $8 million revamp of anchor tenant Woolworths in 2021 and is due to continue until early 2023, marking a major improvement to the Centre’s overall amenity.
The Centre was purchased by CVS Lane in conjunction with our partner Consolidated Property Group in 2020. The refurbishment works are in keeping with the partnership strategy to upgrade and add value to retail shopping centre assets in our portfolio.
Click below to read press coverage in Brisbane’s Courier Mail newspaper.