Demand Can Push Toowoomba Construction Plans Forward

Toowoomba’s Walton Stores urban renewal project has been fast-tracked due to strong community demand. Take a closer look at this case and its implications for the local construction industry.

What’s Happening in Toowoomba?

Toowoomba’s central business district looks to receive a new lease on life with the Walton Stores urban renewal project, a development modelled on Brisbane’s James St Market and Melbourne’s laneways. It will feature retail outlets, restaurants and cafes, and office spaces. “This has been a very successful formula which has been well-executed in cities throughout Australia and overseas,” director of project management Graham Secombe told The Chronicle. “It will bring something that is familiar to those who have travelled elsewhere while providing something new and different to Toowoomba.” Construction on the Walton Stores urban renewal project was originally scheduled to commence in early 2016. However, in August developers decided to bring construction of the first phase forward to meet tenant demand. Westpac, one of the development’s anchor tenants, said it wanted to move into the new development in early December. Full of Life Organics Juice Bar also committed to moving before 2016.

What Role Does Tenant Demand Play?

As seen in the case above, tenant demand plays a key role in fast-tracking construction projects. The sooner a development can move tenants in, the sooner it can start generating revenue and recouping its development costs.

Can Construction Firms Keep Up?

While small firms may struggle with construction plans pushed forward, large construction firms are well equipped to deal with a fast-tracked commercial building project. If you want your commercial construction project delivered quickly, speak to the team at TPM Builders on 1300 733 891. We’re confident we can meet a tight turnaround without compromising on quality. The Walton Stores urban renewal project shows just how quickly construction plans can move ahead with strong rental demand. ©Image via Flickr by hnnbz