Belmonde Property Group brings convenience to Buchanan Road
Developer Belmonde Property Group has announced plans to develop an $18 million drive through convenience centre just off the Bruce Highway in Brisbane’s fast growing northern suburbs.
The prominent 4,696 sqm site provides the opportunity for a service station and two drive through food outlets and is the first homebound site on the main road into the burgeoning suburb of Morayfield, benefitting from direct access to over 25,000 vehicles per day.
Belmonde Managing Director Todd Brown says Buchanan Road has been earmarked to be duplicated to four lanes, providing for greater passing traffic and exposure in the near future.
“This is an extremely rare opportunity as the site is less than 200 metres from Exit 150 on the Bruce Highway and on the major arterial into one of Brisbane’s fastest growing suburbs,” says Mr Brown.
“The service centre will be the very first as you exit and provide a level of convenience not yet provided in one of the most populated sections of the suburb.
“It will service the immediate Morayfield catchment as well as take advantage of another 13,000 residents through the nearby $2.7 billion North Harbour development and the almost complete Riverbank community.”
According to the latest RACQ data, Brisbane service stations were pumping fuel at a 15-month record high in April, despite a fall in the international oil price, with the base cause a lack of competition or a strong independent market.
A recent report by economic consultancy Location IQ, says South East Queensland (SEQ) will require more than 440 new service stations over the next 20 years to meet demand.
The report cites SEQ to grow by over 80,000 people per year, and given the market is also characterised by high car ownership (1.8 vehicles per household) and significant travel distances (11,000 km per year), services must also expand to meet these needs.
Morayfield’s demographic is heavily skewed towards families and has a higher than state average of motor vehicle ownership.
Mr Brown says a focus of Belmonde is to research and identify commercial opportunities such as drive through and convenience centres in high growth areas such as Morayfield.
“People in growth areas are typically busy with work and commitments with their children, so drive through service stations like these are very popular,” Mr Brown says.
“You can drive in and fill up your car and have access to a number of food options, all within a short time frame and within the same complex.
“This is the type of development these areas are in need of, and Belmonde’s methodology works perfectly to bring them to market.”