The rapid growth of the south-western suburb of Yamanto in the Brisbane-Ipswich corridor is creating a new wave of opportunities for businesses to capitalise on shortfalls in the retail and services sectors.
Despite meticulous planning and forecasting from local government bodies and developers that have been active in the Ipswich region for decades, the Yamanto surge has exceeded expectations, with residents pouring into the growth corridor at a rate three times the national average to take advantage of affordable housing and strong employment prospects.
The influx of families has brought the total number of residents in the Yamanto primary trade area to 48,000, placing strain on existing retail and service offerings and leaving many vastly underserviced.
Ipswich City Council Economic Development Manager Paul Massingham said Yamanto was one of the region’s boom suburbs and its proximity to the major growth areas of Greater Springfield and the Ripley Valley would benefit it in years to come.
“We are seeing amazing growth in that corridor, from the master-planned communities of Greater Springfield, through the Ripley Valley and out to Yamanto,” he said.
“The Ipswich population, currently about 220,000, will more than double over the next 15 years with the majority of new residents moving to these areas. There is enormous potential for big business, small business, and for all industries.”
The boom in the region is set to continue, with upgrades to the Ipswich CBD, a new planned 25km public transport corridor – where Yamanto would be one of nine new train stations – and emerging large retail, commercial and industrial developments starting to take shape.
More than 1000 local businesses and manufacturers are also on hand to contribute to the needs of the Queensland Defence sector, which has a large presence in the area with the RAAF Base Amberley hosting 7,000 service men and women.
Yamanto Central is set for major development.
A heavy armed vehicle contract worth $5 billion was recently awarded to Rheinmetall Defence Australia in nearby Redbank – an agreement that is set to create 350 jobs and further galvanise the region’s long and rich history of supporting nation’s Defence forces.
The need for greater support for the expanding population is not lost on DMA Leasing Specialist Ewen Burg.
Mr Burg is responsible for leasing at the Yamanto Central development – the first stage of a broader town centre for Yamanto that is addressing service deficits by bringing dining, entertainment and retail opportunities to the region.
“With this rapid population growth and local economic development, we can reliably expect the retail demand to grow even further as more and more new residents move into Yamanto and the nearby Ripley Valley growth area.
“We’re already seeing strong retail demand across the board, with locals calling for increased dining options, grocery and specialty stores and health and wellness services like doctors, dentists and gyms.
“Rarely do we see an area with such promising long-term growth outlook, and businesses from both the local area and further afield are becoming increasingly aware of this opportunity.”
Yamanto Trade Area – Fast Facts
- 35km from inner-city Brisbane.
- 5.3 per cent per annum residential growth.
- Forecast 7.8 per cent per annum retail spend growth to 2031.
- 48,000+ residents in the Yamanto trade area are currently underserviced.
- $28m of food catering expenditure escapes the catchment due to lack of suitable dining options.
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