In the Media

  • Excel Invest in Lakes Vista

    Published in: Courier Mail, Prime Site
    Published on: 10 Nov 2011

    Brisbane-based Excel Development Group has become joint venture partner in ORRA Pacific's $50 million Lakes Vista Office Park.

    Excel director Peter Sherrie said the strategic location of the project at 2-4 Flinders Parade, North Lakes, and significant demand for de-centralised office space was behind the company's decision to invest in the development.

    "Office Park product is becoming a more desirable office accommodation option in our capital cities due to shortage of skilled workers and the ability to offer alternative work spaces in a more campus-style environment," he said.

    In addition to financially backing Stage 2 of the development, Excel has also purchased a two-storey 1300sqm building in the park for $5.5 million.

    Mr Sherrie said the Lakes Vista development was 'future proofed', making it a fitting addition to the Group's existing portfolio.

    "We specialise in diversifying our risk over the different market segments and positioning ourselves in key growth areas and North Lakes is certainly one of these," he said.

    Stage one of the office park was finished two months ago.