The South East Queensland Regional Plan designates Mount Gravatt as a principal regional activity centre.

According to the regional plan, principal regional centres serve catchments of regional significance and accommodate key employment concentrations.

Residents of Cielo Centro will benefit from these plans as their apartment is perfectly located in an area, which is experiencing substantial capital gains far exceeding the average property investment in Brisbane.

Key points:
  • The Upper Mount Gravatt regional centre is anchored by Westfield Garden City, the third largest retail centre in Queensland, which holds 115,000m²of retail and commercial space. The 311 shops attract 12.9 million customer visits per annum and is an employment hub.
  • Hospitals in the area support 350 beds and employ over 1,850 staff.
  • Despite these strong anchor points, the Upper Mount Gravatt area, in contrast with the other three Brisbane regional centres (Indooroopilly, Chermside and Carindale) holds a limited number of apartments.
  • Mount Gravatt is currently growing by around 775 new residents each year. Local growth is accelerating and this area has experienced greater gains in population than the other three Brisbane regional centres.
  • The new apartment market in the Upper Mount Gravatt area appears undersupplied.
  • In 2009 the average gain for apartment resales around the Upper Mount Gravatt regional centre was 8.2%. This compares well with just a 1% average growth rate for apartments across the Brisbane area in the same time period.
  • The vacancy rate for apartments in the Upper Mount Gravatt area is around 1.5%