Retail Added to the Mix

A CHILDCARE focused developer has added fast food to  its development pipeline for the first time.

In its first mixed use development Smithfield Property has started construction of a Hungry Jacks as well as a childcare centre on a highly exposed corner site north of Brisbane.

The 2646sq m former fruit shop and service station site at 620 Albany Creek Rd, Albany Creek, was bought by Smithfield for $2.49 million.

Smithfield director Anthony Doolin said Hungry Jacks had precommited to a 12-year lease with options on a 228sq m drive-through restaurant while an operator committed to a 15-year lease with option on a 109-place childcare centre.

De Luca Constructions has started building works and the Hungry Jacks is scheduled to finish in June and the childcare centre in September.

Mr Doolin said it was Smithfield’s intention to have both site sold prior to completion.

“We purchased the corner site because of it exposure, dual access and the increasing popularity of Albany Creek and Eatons Hill,” he said.

He said Smithfield purchased the property with the original intention to build a childcare centre.

“There is a lack of childcare centres out there… but we had a bit of market intel that there had been a few retail groups look at it and Hungry Jacks was one, but for some reason they didn’t proceed.

“Then things changed and we contacted them.”

Courier Mail article printed on Friday 23 February and written by Chris Herde.