"Infrastructure spending is really ramping up in Brisbane with multiple projects in the pipeline. These developments can only mean great things for real estate in Brisbane as demand soars." - Mitch Connolly, Senior Investment Analyst
Brisbane is preparing to add a succession of new major development projects to its ever-changing skyline.
Australia’s third-largest city recently welcomed the completion of the $1.1-billion second runway at the Brisbane International Airport and has been boosted by a $50-billion infrastructure and transport pipeline. The city is also lining up an Olympic bid.
While Brisbane’s infrastructure backlog has finally started to move, the Queensland capital is still coming to terms with a stagnant apartment market.
The city’s resources-dependent economy has been thriving in recent years with rental growth across the commercial sector growling steadily within the A-grade asset class.
Despite the increase in new supply during the half-year period, Brisbane is still in for a lean period of new office buildings.
Sizeable residential masterplans and commercial precincts have added to the city’s burgeoning development pipeline, with strong population growth prior to Covid-19 unlocking development opportunities.
From the city-shaping cross-river rail to a new multi-billion-dollar casino as well as a number of high-profile high-rise commercial, hotel and residential projects, the city is primed for major development projects and growth.
Property giant Dexus is pushing ahead with plans for a $2.1-billion transformation of Eagle Street Pier and its Waterfront Place commercial precinct in Brisbane’s CBD.
The country’s biggest office landlord lodged plans in June for its 9000sq m riverfront site and secured approval in February.
Plans include two new commercial towers, riverfront dining, public plazas, extended riverwalk and ferry terminal.
The existing Eagle Street Pier building, next to the Harry Seidler-designed Riparian Plaza and Riverside Centre, will be replaced.
The 75,300sq m north tower will reach 49-storeys and the 43-storey south tower with 60,000sq m of office space in total. Both towers will sit above four levels of underground car parking.
Dexus plans to begin construction on the Eagle Pier site in 2022 with the first stage to be delivered by 2026.
• Designed by FJMT and Arkhefield
• The project will feature 9000sq m of riverside public open space
• It is projected to create more than 1,000 construction jobs
Brisbane’s $3.6-billion Queen’s Wharf development—which has taken more than a significant footprint of the CBD—has moved ahead with construction and is now well under way.
Destination Brisbane Consortium—which includes the Star Group, developers Far East Consortium and Hong Kong-based Chow Tai Fook—is responsible for the integrated resort, after being selected by the Queensland government to transform the riverfront site.
The project, the largest private sector development in Queensland, is spread over 12ha of land and 15.3ha of water and will eventually comprise a total gross floor area of 390,000 square metres.
The development, earmarked for completion by late 2022, will offer four luxury hotels, 2000 residential apartments and a casino.
• Designed by Cottee Parker
• The project is being delivered by builder Multiplex
• Will offer 50 bars and restaurants and a 100m-high 'sky deck'
• The project has earned a 6-Star Green Star Communities rating
Super fund developer Cbus Property, in conjunction with its local partners Nielson Properties and the Raniga family, is moving ahead with plans for a $600-million office tower in Brisbane’s fast-growing North Quarter precinct.
The development, a 37-storey A-grade office tower, was approved in February for a 3000sq m riverfront corner site, created from the amalgamation of properties at 205 North Quay and 30 Herschel Street.
The development will be known as 205 North Quay and will add 50,000sq m of net lettable area to the Brisbane CBD office market in the fast-growing North Quarter precinct.
• Designed by Hassell, REX and Richards & Spence
• Features a whole-floor wellness facility and rooftop facilities
• Targeting 6 Green Star and 5.5 Star NABERS Energy ratings
Griffith University is moving forward with $1-billion plans to leave Mount Gravatt Campus, lodging a development application in September to create a new vertical campus at Roma Street Station.
New and existing students will be welcomed at the 55-storey tower in Brisbane’s CBD as well as the growing Logan campus.
The ground floor of the building includes a public auditorium to be used for presentations on scientific developments, debates and community services.
• The uni plans to take up 15 of the 55 floors
• Will help accommodate 4000 students transitioning from Griffith’s Nathan Campus
• Will act as a hub for the uni’s IT, business and law schools and student accommodation
Fund manager Charter Hall has secured approval for major commercial development in the heart of the CBD.
The 35-storey project is slated for a 1850sq m corner site at the top of the CBD’s Queen Street Mall, created from the amalgamation of three properties at 217 George Street, 231 George Street and 60 Queen Street, ranging from three to eight storeys in height.
The development will be known as 60 Queen Street and, if approved, will add 29,000sq m of net lettable area to the Brisbane CBD office market.
In March, Charter Hall listed the amalgamated site after investors in the partnership decided to release the asset.
• Charter Hall purchased the site for $94 million mid-2018
• Proposal designed by Blight Rayner
• Targeting 6 Green Star and 5.5 Star Nabers energy ratings
Brisbane-based developer Cornerstone has plans before the council for a major commercial project in Brisbane’s Fortitude Valley.
The proposal, for a high-rise commercial tower alongside the landmark McWhirters building, calls for a 28-storey development spanning 14,500sq m of net lettable area.
The development is slated for a 1357sq m site between 251 to 253 Wickham Street, together with part of 47 Warner Street, currently occupied by a derelict and dilapidated building.
Plans feature meeting and recreation spaces on levels 15 and 27, a gym with lap pool, sky terraces and balconies.
The building will offer 55 car parking spaces across three basement levels as well as 108 bicycle spaces and end-of-trip facilities.
• Designed by Brisbane-based firm Bureau Proberts
• The site currently holds approval for an 11-storey proposal
Construction on Queensland’s biggest infrastructure project, the fully funded $5.4-billion Cross River Rail being built by a consortia of several government agencies and the private sector, is well under way.
The major project will comprise a 10.2km rail line from Dutton Park in Brisbane’s southern suburbs to Bowen Hills in the north, with a 5.9km tunnel under the CBD.
The development includes four underground stations, at Boggo Road, Woolloongabba, Albert Street and Roma Street, as well as eight upgraded stations across Brisbane’s fringes and three new Gold Coast stations—Pimpama, Helensvale North and Merrimac.
The Pulse consortium—a partnership led by CIMIC Group companies, Pacific Partnerships, CPB Contractors, and UGL with international partners DIF, BAM and Ghella—is set to deliver the tunnels, stations and above-ground development.
• Early works for the project began in August 2017
• At peak, the project will create 7700 construction jobs
• First trains are expected to be running in 2024
Charter Hall and Investa Commercial Property Fund’s $650-million Queen Street tower is quickly taking shape.
The joint venture acquired the 2150sq m site in June, 2017 for $53.75 million before lodging plans for a commercial development.
The project will deliver 45,000sq m of A-grade office space, a publicly accessible retail component within its podium, childcare centre, supermarket, and indoor sport and recreation centre.
• Designed by Blight Rayner
• The building is targeting a 5-Star Green Star design rating
• It is also targeting a5 Star NABERS Energy Base Building rating
A masterplan for the transformation of Victoria Park golf course into a 45ha public parkland in Brisbane’s inner north is moving forward.
The masterplan includes a 1.4ha lake, boardwalks and trails, a high-ropes course, children’s water park, skate park and tennis courts.
A cultural hub with indigenous art, a community garden and urban farm is also slated for the park which if realised, will be more than double the size of the City Botanic Gardens.
It will cost $83 million to convert the 18-hole golf course—located two kilometres from the CBD—into Brisbane’s first new park in 50 years, with construction tipped to commence in 2021, if approved.
• The public consultation process included 16,300 people
• Designed by Lat 27, Aurecon, Wilkinson Eyre Architects, CDM Smith, Codesign, Design Flow, Project for Public Spaces and Catherine Brouwer Landscape Architects
Geon Property will soon break ground on the first stage of its $750-million Albion Exchange project in Brisbane’s inner north, after winning approval for the two-tower mixed-use development earlier this year.
The transit-oriented development, which will be delivered over 15 years, will revitalise a 4900sq m state government-owned development site adjacent to the existing Albion train station.
The 10 Stage redevelopment of the state-owned site will be bordered by Mawarra Street, Albion and Hudson Roads.
Stage one of the Albion Exchange masterplan also includes a $28.7-million upgrade of transport facilities and access to the Albion Train Station.
• Designed by Hames Sharley
• The project will include a 20-storey tower and a 19-storey tower
• The project will deliver a total of 253 units
Cbus Property’s 47-storey apartment building at 443 Queen Street is rapidly taking shape.
The $375-million residential tower, consisting of 264 apartments, will include a private dining room, catering kitchen, outdoor lounge cabanas, a gymnasium and 25m pool perched on the river’s edge.
The building was recently awarded a 6 Star Green Star design rating by the Green Building Council of Australia, the first residential building in Australia to be recognised with this rating.
Originally scheduled for completion this year, the building won’t be finished until at least August 2021.
• Designed by WOHA and Architectus
• Construction is being overseen by Probuild
• The building includes a boardwalk level restaurant
• Cbus Property acquired the site for $49 million in 2014
The state government-funded New Performing Arts Venue (NPAV), a new $150-million theatre, is currently being built as part of the Queensland Performing Arts Centre (QPAC).
The 1500-seat theatre will make the QPAC precinct the largest performing arts centre in Australia and is expected to deliver capacity for an extra 260 performances annually.
The Palaszczuk government promised $125 million in its 2018 budget to help fund the theatre, while QPAC will make up the remaining $25 million.
Early works on QPAC’s fifth theatre commenced last year and will be completed by 2022.
• Designed by Snøhetta and Blight Rayner
• QPAC will be to host an extra 300,000 visitors per year
Listed developer Mirvac is progressing on its $836-million 80 Ann Street tower in the CBD.
Mirvac acquired the 5000sq m site between Turbot and Ann Streets adjacent to Brisbane City Hall from Singaporean group Wee Hur for $79 million in late 2017.
The commercial project, spanning an entire block, will reach 35-storeys and offer 60,000sq m of net lettable area across some of Brisbane CBD’s largest floor plates at 2,200 square metres.
Financial services giant Suncorp will anchor the tower, taking 66 per cent of the total space.
Along with the 10-year pre-commitment from Suncorp, Mirvac has also closed a deal to build the tower with M&G Real Estate, which will own a half stake for $418 million, reflecting a yield of 5 per cent.
• Designed by Woods Bagot
• The project is scheduled for completion in 2022
• It is targeting 6 Star Green Star, 5 Star NABERS Energy and Gold Shell and Core WELL ratings
Plans for a 26-storey slimline hotel in the Brisbane CBD just outside the Roma Street priority development area are under assessment.
The 44 Roma Street application envisages a double-storey glass entrance to the tower, which has a ground floor foyer, cafe and lounge bar leading up to 212 hotel suites.
The hotel would include 212 hotel suites along with a ground floor restaurant and bar.
It neighbours Mirvac’s 80 Ann Street development and would sit in close proximity to Queen Street Mall and the proposed Brisbane Live precinct.
• Designed by Buchan
• Project site located at the corner of Turbot Street
Billionaire developer Maha Sinnathamby is pressing forward with plans for a $88-billion residential and commercial masterplan in Springfield, near Brisbane.
Planning approval for 2,685,600sq m of mixed-use development is in place, making Springfield Australia’s largest masterplanned city.
The region, about 26km south of Brisbane, is projected to be home to 140,000 people and 50,000 jobs by 2030.
Earlier this year, Sinnathamby appointed investment bank Moelis Australia to find a partner with deep pockets to help complete the masterplanned city.
• About 25 per cent of development has been completed so far
• At least $18 billion has already been invested
• A further $70 billion needed to fully realise the masterplan
Sekisui House is closing in on its third stage of its West Village project in Brisbane’s West End, featuring the heritage-listed former Peters Ice Cream factory as its centrepiece.
The $800-million mixed-use precinct, which is the company’s first inner-city masterplanned project in Queensland, is broken up into three stages and includes seven residential buildings.
Upon completion, the development will comprise 1200 apartments, townhouses and heritage residences, two commercial buildings, and one hectare of open space.
It will also feature a playground, a Woolworths supermarket, carparks, a gym, theatre precinct, medical precinct and 35 retailers.
• Plans for residential masterplan were first lodged in April 2015
• The development spans the 2.6ha former Absoe site
• Construction being overseen by Hutchinson Builders
• The project is scheduled for completion in 2023
The Brisbane Metro project will see the delivery of a new transport system along 21km of existing busway between the Royal Brisbane Women’s Hospital and Eight Mile Plains.
The project was initially proposed as a subway line to supersede the Northern and Southern Busways, taking hundreds of the council’s yellow-and-blue buses off the road and replacing them with 24 metre long electric bi-articulated buses capable of carrying up to 150 people.
A new underground station will be built at the Cultural Centre in South Brisbane as well as new busway tunnel underneath Adelaide Street in the CBD connecting to the Central Busway near King George Square underground station.
The project, which will be split into two parts and include 18 stations and 11 interchanges, is underway.
• Originally proposed during the 2016 council election
• Brisbane Council has committed $644 million to the project
• The federal government has committed $300 million to the project
• Services expected to start running by the end of 2023
Charter Hall has two sets of plans before council for a significant riverfront site in Brisbane’s fast-growing North Quarter precinct.
The single tower scheme will feature large, which is Charter Hall’s preferred option, will feature campus-size floor plates of over 2700sq m as well as a 1550sq m outdoor garden terrace at the top of the building’s podium.
The dual tower scheme, lodged in a bid to recognise “growing flexibility in tenant requirements”, will be developed through a staged approach and will hold a more public-centric focus with a number of pedestrian laneways featuring cafes and pop-up venues.
• Charter Hall and Quadreal paid $65 million for the site
• Proposal designed by Blight Rayner
The $2-billion Brisbane Live arena, a 17,000-seat entertainment venue pegged for Brisbane’s CBD, has been touted since 2007.
The 65,000sq m arena, now part of the wider Roma Street Cross River Rail precinct, is still shrouded in uncertainty, with state government recently tapping the private-sector for investment.
If realised, the open-air precinct, likened to Melbourne’s Federation Square, would be built above the existing Roma Street rail lines under the Cross River Rail Delivery Authority in partnership with AEG Ogden’s Harvey Lister.
The demolition of the original Brisbane Transit Centre on the site moved ahead last year to make way for the new Cross River Rail station at Roma Street.
• Projected to generate $2.5bn in GRP over the next two decades
• If realised, the venue will support 600 ongoing jobs
Sydney-based developer Crown Group has rebooted plans for its controversial $460-million residential development in Brisbane’s West End.
Crown Group originally submitted an application in January 2018, soon after picking up the 1.25ha site—the former home of Computershare—at 117 Victoria Street for $35 million.
The contentious development, which has been paused since mid-2019, will be completely redesigned after initial plans for an FJMT-designed scheme were scrapped.
Crown Group is now preparing to resubmit plans shortly to provide for larger apartments with a greater project gross floor area in response to market conditions.
• Original proposal designed by FJMT
• New concept to be designed by Kengo Kuma and Plus Architecture
Source: The Urban Developer
Editorial Desk. (2021, April 20). Top 20 Brisbane development projects. The Urban Developer. https://www.theurbandeveloper.com/articles/major-development-projects-brisbane