Sekisui House Australia has today announced its divestment of Ripley Town Centre — a 68-hectare, mixed-use master-planned community in south-east Queensland’s western growth corridor — following a comprehensive review of its global and national strategy.
In line with its strategic direction and core capabilities, Sekisui House Australia has opted to focus on its residential offer, which includes the innovative SHAWOOD home brand and contemporary apartment projects across the eastern seaboard.
Sekisui House Australia delivered the award-winning Ripley Town Centre Stage One in May 2018, which is now home to a Coles supermarket, BWS, Anytime Fitness, a medical centre and approximately 20 specialty stores including cafés and casual dining, health, beauty, services and business.
To meet strong tenant interest, Sekisui House Australia has submitted a Development Application to Ipswich City Council for the development of Stage Two of Ripley Town Centre, which, if approved, will allow for the development of a further 8,000m2 of retail and recreational space, anchored by a second major supermarket.
The Esplanade – Ripley Town Centre – Artist Impression (subject to change and Council approval)
Sekisui House Australia CEO Apartment & Mixed-Use Development, Hide Seguchi, said that while the divestment of Ripley Town Centre was a difficult decision for the business, Sekisui House was committed to the Australian residential and apartment markets, and confident its position remained strong.
“We are incredibly proud of the work completed to date at Ripley Town Centre, and the many important relationships the team has built with key stakeholders and the community.
“This strategic divestment will allow Sekisui House Australia to divert capital into acquiring other premium, south-east Queensland apartment projects while progressing our existing pipeline of projects.
“This includes approximately 11,000 homes and apartments across Australia comprising existing projects West Village in Brisbane; The Orchards, Sanctuary, Melrose Park and Gledswood Hills in Sydney; and our newly acquired NSW sites in Sutherland, the Northern Beaches, Calderwood and North Turramurra,” said Seguchi.
Sekisui House Australia has partnered with CBRE and Colliers to manage the sale of the Ripley Town Centre master-planned community, with Expressions of Interest closing July 2023.
Ripley Town Centre – Aerial 2023
CBRE Senior National Director, James Douglas said: “The Ripley Town Centre offer is a rare opportunity to acquire a highly productive shopping centre — a site with a large land holding, the ability to be expanded and significant growth potential through mixed-use development opportunities.”
“The State Government’s commitment to the precinct and a rapidly growing population base — in one of the fastest growing regions in Queensland — are highly supportive factors to the future success of the area,” said Douglas.
Colliers Managing Director, Asia Pacific, Lachlan MacGillivray, said: “The Brisbane retail market continues to be on the radar for international investors looking at major development opportunities, spurred on by strong net migration and the upcoming Brisbane 2032 Olympic and Paralympic Games.
“Global investors continue to be attracted to the Australian retail market as it has proven to be highly resilient, has limited new supply and unparalleled renewables opportunities.
“Situated within the burgeoning western corridor of Brisbane, Ripley has seen an influx of developers drawn to the area, and we expect to continue to see strong demand in this space as the precinct transforms and grows into the future,” said MacGillivray.
