Local real estate company to invest millions in Cleveland CBD

A two-story office block that will employ 50 staff and inject millions into the local economy is set to be built in the Cleveland Central Business District.

Local company LJ Hooker Cleveland will expand its business premises by constructing the new office complex on a portion of land at 2-16 Wynyard Street purchased from Council’s subsidiary company Redland Investment Corporation (RIC).

Redland City Council Chief Executive Officer and RIC Board Director Bill Lyon said the sale would enable the local business to expand and provide construction jobs and ongoing local employment opportunities.

“The Cleveland Centre Master Plan adopted by Council in 2010 found developing the land on the corner of Wynyard and Shore Street West would be a catalyst for investment and activation of a key part of the Cleveland central business district,” he said.

“This project allows a local company to grow its business and invest millions in Cleveland, creating flow on economic return locally.”

RIC Chief Executive Officer Peter Kelley said proceeds from the sale would be reinvested in city projects, or a future fund providing long-term, intergenerational wealth for the Redlands community.

“While economic activity and city activation is important, so too is balancing this with the region’s unique lifestyle,” he said.

“Council was very clear in its direction late last year that it wanted RIC to be more focused on the community’s social and environmental needs.

“This sale and proposed development will mean approximately 11 long-term public car parks will be removed from the site, so we will be adding 20 additional long-term public car parks outside the Redlands Performing Arts Centre, meaning there will be a net increase in city centre car parks.”

LJ Hooker’s proposal is to build a two-storey office complex on approximately 1500 square metres of the land on the corner of Shore Street West and Wynyard Street. It is estimated 50 staff will be employed at the office, with the rest of the site available for car parking.

All-day public car parking will be available at the adjoining lot (Lot 20, 18-22 Wynyard Street, on the corner of Wynyard and Middle Streets).

The building proposal will require a development application to be submitted and assessed by Council before it can proceed.

LJ Hooker Cleveland Managing Director and Principal Iain Carmichael said the new office would provide an excellent working environment for LJ Hooker Cleveland employees.

“Cleveland is experiencing significant growth and this investment reflects confidence in our local economy,” he said.