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Civic hub and mall to transform Ipswich

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Fresh from selling an Adelaide complex to Blackstone for over $400m, the deal is epc. Pacific’s first in regional Queensland and represents a new high for the region in attracting more capital from sophisticated investors.

Located less than 45 minutes to the southwest of Brisbane, the investment potential of the regional hub has been pioneered by groups including Maha Sinnathamby’s Springfield Land Corporation.

However, a concerted development drive spearheaded by the local council has lifted the number of investment opportunities on offer, and highlighted the appeal of the precinct for its location and affordability for residents and businesses.

Epc. Pacific’s investment is expected to add more momentum to a building wave of investment.

“This agreement sets the wheels in motion to better serve residents but also opens up the CBD to attract new private investment,” Ipswich mayor Paul Pisasale said.

Under the plan, epc. Pacific will relocate the council’s administration offices, city library and civic centre into a landmark 17,000sq m nine-storey building and mall opening up onto a river running through the middle of the town.

The council bought the site on top of a former shopping centre in 2009. It will now be converted into a 5-Star Green Star rated building, housing the council’s administrative functions and the city’s library in a purpose-built 2,000sqm state-of-the-art facility. Other facilities include leisure and entertainment areas, cafes, restaurants and a three-level retail and mixed use centre with views of the river.

The development adds to a busy pipeline for epc. Pacific, which has recently completed over $500m in large scale urban regeneration projects, including the first Australian Taxation Office headquarters in Australia to achieve a 6 Star Green Star rating at the heart of a regeneration precinct in Dandenong, Melbourne.

The company also recently developed the award winning 80 Grenfell Street in Adelaide’s CBD which was part of the complex that sold to Blackstone.

.“This is a once-in-a-generation opportunity for the Ipswich CBD and our team is passionate about urban regeneration projects that can deliver real social benefit and change,” epc. Pacific managing director Patrick Smith said.

“We understand the aims and objectives of ICP and have established a strong masterplan that will reposition the public space and put in place a framework for regeneration of the town centre,” he said.

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infrastructure

Development Update: $67m Springfield Central Sports Complex

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Development Update $67m Springfield Central Sport Complex

A $67 million sporting development in Greater Springfield, an urban growth corridor located south west of Brisbane’s metropolitan area, is on track to open this year.

The developer of Greater Springfield says it is “cementing itself as one of Australia’s super sporting meccas” with its new Springfield Central Sports Complex slated to open to the public mid-year.

The new sporting facility, which neighbours Springfield Central State High School and St Peter’s Lutheran College, also joins the recent announcement of the $70 million Brisbane Lions AFLW stadium announced in January.

Development Update $67m Springfield Central Sport Complex

Springfield’s current population sits around 41,000 with this figure predicted to triple in size by 2030.

Rewind to 1992, when Greater Springfield founder Maha Sinnathamby purchased the 7000-acre parcel of land — today’s Springfield — which no developer wanted to touch.

Development Update $67m Springfield Central Sport Complex

Sinnanthamby says the region has a growing student population.

“There are currently 11,000 students in Greater Springfield, with that number expected to grow by 1200 each year moving forward,” the Springfield Land Corporation chairman said.

The developer says Greater Springfield is Australia’s first masterplanned greenfield city since Canberra, and to date it has seen $15 billion worth of infrastructure invested.

“We have a supersized CBD and an employment target of one job for every three residents,” Sinnathamby said.

The new sporting development will feature four ovals, 16 netball courts, eight fields, eight tennis courts, an athletics track as well as clubhouses and playgrounds.

Source: theurbandeveloper.com

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City Deal a $58bn ‘Game Changer’ for Southeast Queensland

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City Deal a $58bn ‘Game Changer’ for Southeast Queensland

South-east Queensland could be green-lit for the biggest “city deal” in Australia, with a $58 billion proposal to guide its growth, and the prime minister announcing his support for the major plan.

With a focus on supporting diverse sectors within the region including housing and planning, tourism, manufacturing and education, the SEQ City Deal could also pave the way for government-owned land to be opened for development.

Queensland deputy premier Jackie Trad this week released Transforming SEQ, which highlights 35 “opportunities” that could be considered as part of the future City Deal, including six “game changers” for the region.

“Modelling by KPMG has shown a SEQ City Deal could stimulate an increase of up to $58 billion in our economy by improving the productivity and competitiveness of the region,” Trad said.

‘Game Changer’ for Southeast Queensland-min

Prime minister Scott Morrison will be meeting with the SEQ Mayors and Queensland government to discuss the proposal this week.

The City Deal, which involves all three levels of government — council, state and federal — would see government working on priorities to drive the SEQ economy.

Under a City Deal plan, all three levels of government sign an agreement to set the priority infrastructure projects and initiatives.

City Deal a $58bn ‘Game Changer’ for Queensland

Integrated land-use planning approach?

Property Council chief executive Ken Morrison described the announcement as “a game-changer for the region.

“Our growing cities and urban regions are the engine rooms of the Australian economy,” Morrison said.

“The city deal model brings together all levels of government around the same plan to boost productivity and jobs through targeted investment in city-shaping projects and infrastructure.”

Property Council Queensland director Chris Mountford said the council has been collaborating with state government and SEQ councils for nearly six years on the potential for a city deal.

“The State and local governments have also agreed in principle to a more coordinated integrated land-use planning approach,”

“Opening up under-utilised government-owned land for development has also been agreed as a clear opportunity to unlock economic activity, create jobs and build business confidence.”

City Deal a $58bn ‘Game Changer’

Growing population

The region’s current 3.5 million population is forecast to increase to 5.3 million within the next 25 years, ultimately requiring an extra 800,000 homes and additional one million jobs.

Focus has been placed on the recently released people mass movement study which identifies the impact of the expected population growth on the region’s ability to cope with future transport demand.

Minister for Cities Alan Tudge said he, along with the prime minister, will be meeting with the SEQ Mayors to discuss the Deal.

“We need to cater for this rising population and the SEQ City Deal will be a huge step forward,” Tudge said.

South-east Queensland is already home to over two-thirds of the state’s population.

The region is home to nearly one in every seven Australians.

The agreement marks the second city deal for Queensland following the policy being first established in Townsville.

So far, city deals have been developed for Western Sydney, Townsville and Launceston, and a further four more are currently under negotiation in Adelaide, Hobart, Perth and Geelong.

 

Source: brisbaneinvestor.com.au

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$63b infrastructure plan to keep SEQ moving till 2041

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$63b infrastructure plan to keep SEQ moving till 2041

It’s going to cost $63.7 billion to keep South East Queensland moving over the next two decades, according to a study released today by the region’s mayors.

The population of the region is expected to grow by about 1.8 million people to more than five million people by 2041, putting extraordinary demand on the already strained transport network.

The SEQ People Mass Movement Study lists a total of 47 projects designed to keep city-to-city trips under 45 minutes and urban commutes under 30 minutes, including a faster rail network connecting the Sunshine Coast and Gold Coast via Brisbane and west to Ipswich and Toowoomba.

Brisbane Lord Mayor Graham Quirk said the infrastructure plan, coined the Strategic Transport Road Map, would keep the region “economically productive” while maintaining its liveability.

“Business as normal is not going to work, we need to increase the amount of money that is being spent in South East Queensland,” Cr Quirk said.

He said the plan would require an average expenditure of about $2.7 billion per year until 2041, which he said was “not an unrealistic figure”.

“What we are seeing in Sydney and Melbourne right now is this massive spend on infrastructure. That’s because they allowed it to get too far behind. We cannot do that in South East Queensland.”

He said there had been no shortage of plans for the region’s transport network, but it was time for all levels of government to unite with a shared vision.

Redland City mayor Karen Williams said the plan delivered the projects over a “reasonable amount of time with a reasonable amount of investment”.

“It’s not a matter of ‘can we afford this?’ It’s the fact that we can’t afford not to do it,” Cr Williams said.

Faster Rail is not as fast as high speed rail, which delivers speeds up to 350km/h, but could run at about 160km/h with top speeds of up to 200-250kmh, with limited stops.

It would be connected to the light rail networks on the Gold Coast and Sunshine Coast in order to ease congestion on major arterials.

Other projects include the Brisbane Metro, Cross River Rail and road upgrades, including the Pacific, Sunshine, Centenary, Ipswich and Logan motorways and the Bruce, Warrego and Mt Lindesay highways.

The study also took into account emerging technologies including autonomous vehicles.

It was first proposed in 2016, and began in September 2017, with the aim of bringing together multiple local, state and national transport studies into one cohesive plan.

The South East Queensland region takes in the Brisbane City, Ipswich City, Lockyer Valley Regional, Logan City, Moreton Bay, Redland City, Scenic Rim Regional, Somerset Regional, Sunshine Coast and Toowoomba Regional council areas.

Source: brisbaneinvestor.com.au

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