WITH a promise of new developments including a revamped shopping centre and two new health precincts, local property agents say the city’s due for a facelift.
Springwood and Meadowbrook are both getting new healthcare developments, Logan Hospital is building up, and Springwood Mall is undergoing a major upgrade.
This, according to LJ Hooker Commercial director Kerry Armstrong, encourages developers to invest in older buildings – thereby setting a new benchmark for the city.
Earlier this month, a new $33 million health hub for specialist health services was announced, to be completed by December this year.
Just weeks before the Springwood development was announced, the nine-storey Meadowbrook Private Hospital plans were released.
“Commercial properties in the Springwood precinct are fairly tightly held,” Mr Armstrong said.
“This development combined with significant main roads resumptions will mean the commercial heart of Springwood will be invigorated and repositioned to a large extent.
“This … will no doubt create a new focus and interest which will enhance values.”
Mr Armstrong said Springwood has an unbelievably positive future.
“If Logan City Council has the belief, vision, and capability there is no reason why Springwood won’t become another Parramatta. Interestingly, there are now buildings in Parramatta that are 94 storeys high,” he said.
Similarly, Property Hub Commercial manager Mark Osmond said Beenleigh is looking stronger due to the investment into buildings such as the new York development.
“I’ve got so many projects on the go right now, people would be amazed,” he said.
“It’s great to see so many new businesses coming into town, all of them with faith in the future of Beenleigh.”
Cam Haag from Remax U said the demand for homes in Meadowbrook and surrounding suburbs will increase as soon as the new hospital is approved.
“This will benefit home sellers in the area as prices are driven up by the demand for homes increases from doctors, nurses and other health professionals who want to reside close to the hospital,” he said.
“It is clear, that Meadowbrook is fast becoming the area’s centre for health and knowledge, and this creates opportunities for developers and investors who are looking to capitalise on this growth.
“Investors will be targeting homes close to the hospital while health professionals will be seeking prestige homes in premium estates or mini acreage lifestyle properties within say 20 minutes’ drive.”
Mr Haag said the development will be “of critical importance for the sustained and managed growth of the region” and also “a massive boost for local businesses.”
