ZUPP Property has unveiled plans to invest $100m over the next five years to build another nine buildings next to its futuristic office buildings on the northern Gold Coast. The company, headed up by John Zupp who turns 90 in April, bought the 7.327ha two title holding at270 Lahrs Road and 29 Eggersdorf Road, Ormeau, for $8.325m in 2014.
Two cylindrical abandoned buildings — a 2867sq m warehouse and a building with 1383sq m of laboratory space and 1907sq m of office space— were extensively refurbished and have been leased out as office buildings. The success of that project has spurred Zupp to develop the balance of the holding. The first cab off the rank is 1 Zupp Drive — a 3300sq m four-storey building due for completion in January. Zupp Property chief executive Neil Ferguson said the estate will be called Interciti to reflect its position midway between Brisbane City and the Gold Coast.“
We have reports that put this in the top echelon of growth for the country,” Mr Ferguson said.“ It is a very community minded precinct and growing all the time. The idea of people working near where they live is a big part of what Interciti is.” Mr Ferguson said the first building will have 800sq m of technical or light industrial space.“
This is a combination not currently available anywhere else on the Gold Coast,” he said.“ We are raising the bar on quality and design at Interciti and the precinct will interest businesses and government departments that would previously only consider Brisbane. SMEs, the economy’s engine room, will also be well-catered for.”
He expects 1 Zupp Drive to be 30 per cent leased by completion. Mr Ferguson said a big part of Interciti was creating a business park that can be used by the whole community with picnic tables, outdoor exercise equipment, park benches and running and walking paths.“ Our chairman John Zupp, wishes to create a legacy project for this site and so we have built lifestyle amenity and convenience into the very heart of it,” he said.
