By Martin Vedris
IPSWICH: Electronics retail group Clive Peeters has signed a 10 year lease for nearly 3,000 square metres of retail space inside a refurbished retail and commercial centre in the Ipswich CBD.
The prime site at 30 Limestone street Street, Ipswich, which is the main road into the town from Brisbane, is being re-developed by Trident Corporation, a real estate advisory and investment firm with an investment management portfolio of office and retail properties with a value of approximately $250 million.
The entire development comprises both office space and retail, with the total retail gross floor area being almost 5,000 square metres. With Clive Peeters signing on for 2,920 square metres, the retailer will be the major retail tenant.
Trident reportedly paid $11.1 million for the property and will outlay a further $3 million to refurbish it. The project is expected to be completed in time for Clive Peeters to commence trading before Christmas 2007.