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Brisbane Buyers Agent Insights – What’s happening in Taringa – New format Coles proposed for prominent vacant site

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As a top Brisbane buyers agent, we’ve always got our finger on the pulse of the Brisbane property market. Check out what’s happening in Taringa.

The first ‘Coles Local’ store for Queensland is proposed to be built on a prominent site in Taringa, in Brisbane’s inner west.

The 5,036sq m property, on the corner of Moggill and Swann Roads, has long been vacant but is a designated landmark site, which means any development must enhance the character of the Taringa Village precinct.

The development proposal is for a 2581sq m Coles Local supermarket (a smaller store than the usual ‘big box’ Coles that will utilise finer architectural features) and a 154sq m Liquorland bottle shop to be housed in a single-storey shopping centre with basement car parking providing 99 car spaces. There is also a potential future proposal for retail space on the building’s rooftop.

If it goes ahead this development will enhance the aesthetics of this particular block and the suburb of Taringa itself, as well as adding to the amenity with a new format supermarket in a densely populated area close to the Brisbane CBD.

 

Market Snapshot – Taringa

Median house price House average annual price  growth Houses sold over past 12 months Median Unit price Unit average annual price  growth Units sold over the past 12 months Demand level Population Median age of residents % of renters
$947,500 2.19% 62 $395,000 -0.04% 142  High 8,376 30 52%

Source: Realestate.com.au, CoreLogic, ABS 2016 Census

 

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