Developers show their confidence in cityconfidence in future
By ALLAN McNEILallanm@gladstoneobserver.com.au
GLADSTONE is emerging as the city of choice for commercial development, with dozens of shops planned for construction over the next 12 months.
Brisbane based developer Colin Street is one of many business people attracted to the Gladstone area because of its economic strength.
'I see a lot of potential up there,' Mr Street said.
Mr Street highlighted industrial projects such as Aldoga and Comalco Stage Two, as the driving force behind the confidence in the area.
'It's somewhat self contained or isolated, it wouldn't matter what happened in the rest of Queensland, I think the Gladstone area would stay solid,' Mr Street said.
As director of Glenlyon Development, Mr Street is constructing the Gecko Valley Estate development. The development will include 220 blocks, with about five acres of commercial developments and three stages of residential blocks.
Commercial premises proposed for the area include a child care centre, medical centre and specialty shops, with construction to begin on the child care centre soon.
Other commercial developments in the area include Gladstone Central on Dawson Road, a community shopping centre on Shaw Street and a service station on Breslin Street.
There are also at least three child care centres planned, with one opening yesterday.
Mr Street said there could be some oversupply in the future because of the amount of commercial development currently planned, but only time would tell.
Gladstone City Council planning manager Andrew Kearns said the number of planning approvals in Gladstone at the moment was higher than it has been for some time.
'They (commercial approvals) are higher than they have been for a number of years,' Mr Kearns said yesterday.
Developers from as far as Brisbane have been making moves in recent years to take up the opportunity of constructing commercial sites in Gladstone.
Another commercial development that will start construction in the first half of this year is Sun Valley Road Pty Ltd. Developers Central Properties Corporation director Stephen Gosling, said it wasn't only developers who had confidence in the area, but also potential tenants.
'From all the research we've done with potential tenants, and we're talking about household names here, they have a lot of confidence in the area (Gladstone).'