MEDIA RELEASE

Lancini launches Woolcock Street business park

LEADING Townsville developer The Lancini Group is to build a $10 million industrial business park on Woolcock Street.

The award-winning developer, which is spearheading the redevelopment of Townsville's Flinders Mall, will develop more than 4000sqm of high-quality industrial warehouse, showroom and mezzanine office space.

The Lancini Group secured the 8903sqm site at 510 Woolcock Street late last year. The company intends to build 10 two-level, strata-titled units.

The individual units, which range from 300sqm to 600sqm, will add much-needed floor space to Townsville's tight industrial property market. The company has now launched a sales and leasing campaign.

Lancini Group development manager Chris Sherwood said the exposure and access provided by the frontage to Woolcock Street meant the business park would suit a large range of industrial and professional uses.

"The Woolcock Street corridor is expanding rapidly as a business and industry centre as more business operators realise that residential development in Townsville's northern suburbs is creating greater demand for their services," Mr Sherwood said.

"Woolcock Street is progressing from being one of Townsville's main industrial hubs to also being one of the major arterial roads.

Mr Sherwood said demand for quality industrial space in Townsville remained robust. "We are confident that we'll secure expressions of interest very quickly," he said.

"Research shows that investors and owner occupiers are still lining up to secure key industrial property holdings in Townsville.

Mr Sherwood said there was a definite need for more boutique showroom, office and warehouse space in Townsville.

"Through this development we want to raise the bar in industrial development by placing a greater emphasis on street appeal, flexibility of use and innovative design," he said. "Since releasing preliminary details of the business park we've had interest from businesses relating to the housing industry, such as architects, painters, builders and plumbers."

The development is separated into two main buildings. The units will be accessed off the Woolcock Street service road and a total of 84 on-site car parks will be provided. Mr Sherwood, who is handling all sales and leasing negotiations, expects building to start mid-year.

The Lancini Group's Woolcock Street industrial business park is the latest in its growing Queensland-wide development portfolio.

In Townsville alone The Lancini Group is embarking on over $500 million of major developments, including the highly-anticipated $200 million Flinders Plaza project in Flinders Mall.

It has major residential, retail, commercial and industrial developments and holdings in Townsville, Mackay, Yeppoon and Brisbane. Since establishing in 1983, The Lancini Group has picked up several Queensland Master Builders State Awards.

For further information contact Shane Russell
on 0408 010 932 or shane@barepublicity.com.au