RETAIL SPACES TO OPEN AT MILTON
Written on the 15 November 2012
FKP PROPERTY Group has unveiled plans to extend the Park Road restaurant and café precinct at Milton.
The developer has officially released 1200sqm of retail space at street level of The Milton, which will front Railway Terrace.
The precinct will encompass five retail tenancies ranging in size from 60sqm to 450sqm.
Construction is due to begin early next year with completion pitched for 2015.
CBRE managing director Jonathon O’Brien says the plans come on the back of an increase in demand for retail, particularly dining, shopping and services, following a surge in commercial and residential development in the area.
"The expansion of neighbouring business park precincts is driving demand for new dining options and, while The Milton is currently the only major residential development on offer, the area is earmarked for significant residential growth in future," says O’Brien.
The development will also include a multi-million dollar upgrade of Milton Railway Station.
CBRE expect demand for retail space will be strong from cafes looking to service the worker population and weekend crowd, along with restaurants and bars aimed at capturing the after-work and residential markets.