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French Quarter hots up


French Quarter hots up

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									                                                          Gold Coast Bulletin
                                                          Page: 34
                                                          Real Estate
                                                          By: Travis Lye
                                                          Region: Gold Coast QLD
                                                          Circulation: 41121
                                                          Type: Regional
                                                          Size: 386.78 sq.cms
                                                          Frequency: MTWTF--

          French Quarter hots up
                        by Travis Lye                   for office use.                             cial opportunities," he said.
           FERNWOOD Hotel Group, a                         The retail and office space, from           "The distinct Parisian design and
                                                        74sqm to 281sgm, ranges in price from       sheer aesthetics make the precinct one
          New Caledonian dentist and a pri-             $5500/sqm to $8000/sqm.                     of a kind."
          vate investor are the first to snap up           Nifsan's acting manager Sean                Mr Wardrop said the sales and leas-
          retail space at Nifsan's French               Wardrop said the company, headed by         ing campaign targeted retailers, res-
           Quarter precinct in Carrara.                 billionaire Japanese businessman            taurant operators, cafes and various
              The buyers paid a total of $2.2 mil-      Toshiaki Ogasawara, had fielded             corporate operators requiring high-
          lion for the units in offmarket deals         numerous inquiries for space in the pre-    profile office space.
          before the release of the near-2000sqm        cinct from national and local businesses.      Construction of the French Quarter
          office and retail precinct at the soon-to-       Fernwood Hotel Group will occupy         has passed the halfway mark and is
          be completed mixed-use development.           a 100sgm space, while the dentist           expected to be finished in February
              A range of retail, restaurant and         bought a 200sqm office and the inves-       next year.
           office tenancies is being offered for sale   tor acquired a 79sqm ground-level              French Quarter residents also will
           at the three-building, mixed-use pre-        retail outlet.                              benefit from a recreation club
           cinct in the $1 billion Emerald Lakes                  are ultimately targeting busi-    incorporating a pool and gym.
           development.                                 nesses that need that unique point of          Agents Kevin Ramsey, Ricky
                                                        difference that the French Quarter pos-     Mahuika and Tyson Mayr, from Ray
              The commercial segment of the             sesses," said Mr Wardrop.                   White Commercial Broadbeach, are
           $60 million French Quarter sits across                                                   marketing the commercial precinct in
           the first two levels of two of the build-        "This is one of the most unique and
                                                        impressive commercial offerings that        an open-ended tender campaign.
           ings, Maison and Le Parisian, which          has ever been released to the (Gold            The French Quarter will link
           have four and five floors respectively.      Coast) market and will be like nothing      the recently finished first commercial
             The third building in the 109-unit         ever seen before in the area."              stage, the Town Centre, at Emerald
          project, the nine-level Bella Vue, will          He said the retail tenancies would       Lakes.
           overlook the retail strip to create a        vary in configuration depending on the         The $45 million Town Centre has
           central piazza-style area in the heart of    needs of the tenant.                        two six-level buildings, one with
           the precinct, mirroring what is seen in         "Much like the traditional retail        4100sq m of A-grade office space and
           traditional French cities.                   strips in Paris, the French Quarter will    the second with two levels of retail
             The retail precinct has approval           provide a continuous boulevard of           topped by 39 one- and two-bedroom
          for a restaurant covering 200sqm,             restaurants, delicatessens, homeware        apartments.
           592sqm of retail space and 1140sgm           outlets, and other retail and commer-

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