Have you heard about the new “green” projects in and around Brisbane?
I have written previously with regards to the bigger projects underway in Brisbane such as the Brisbane CBD expansion, lead by the Queens Wharf project and Brisbane Airport Upgrade.
Being our largest hubs, they are also the most visible and will set the scene for a significant amount of change this year.
Branching out from the CBD, we will also see the Brisbane Metro and Cross River Rail projects take shape.
But there is a range of new projects underway in 2021 that will change the face of Brisbane and the way it looks and feels, while enhancing our lifestyle.
Will this be the year we start to shake off the country town tag and start to emerge as a new world city?
Here are my thoughts.
It is not just the CBD and Airport that face both superficial and structural changes, there are also a multitude of projects that will do the same to our inner to middle ring suburbs.
To our west we have the Indooroopilly Riverwalk nearing completion, ahead of schedule thanks to COVID – 19.
The Riverwalk will link the Western suburbs with pathways and access in and out of major employment hubs and lifestyle precincts.
A similar project in New Farm increased the lifestyle features and benefits, while becoming a major feature of the suburb.
Continuing with the “green theme”, the inner-city suburbs of Kangaroo Point and Newstead will see construction begin of two new Green Bridges.
The Kangaroo Point bridge will be a game changer for the suburb, simplifying the process for pedestrians and cyclists traveling into the CBD and opening up a hard to manoeuvre area of Brisbane.
For the first time, there will be direct access to our CBD from the cliffside suburb that residents and commuters will be keen to take advantage of.
The Breakfast Creek bridge will also cater for pedestrians and cyclists and link the inner city to our northern suburbs.
Both bridges are designed around and will enhance the Brisbane River, while providing significantly more benefits and convenience to local residents and visitors to the CBD.
Along with these two green bridges there are dozens of new dedicated bikeways, pathways and even ferry terminals.
For the first time in almost half a century, Brisbane will be getting a new inner city playground – Victoria Park.
Dubbed as Brisbane’s answer to Central Park in New York, the 26- hectare council owned site, is currently being used as a golf course.
But the site will be transformed into public parkland with more native bushland, trees and adventure experiences.
The park will feature;
- Lagoons and a water play gully
- Increase in shade and bushland from 10% to 60%
- Canopy walk and cycle pathways
- Linking of bikeways and pathways to the park
- A high ropes course
On the doorstep of the Brisbane CBD and transport hub of Roma St, it will enhance an inner-city lifestyle and give tourism another iconic feature.
Brisbane has been earmarked to develop into a new world city over the short term.
We are certainly seeing the streetscape change in and around our CBD and out to the Airport as our major hubs undergo significant upgrades.
There are also a couple of major projects like Brisbane Metro and the Cross River Rail that are making it easier for the commuters to get in and out of these hubs.
And we are now starting to see some major changes around our inner and middle ring suburbs also.
These projects have a green theme and are designed to enhance the way we live and make it easier to get around town.
Riverwalk’s and Green Bridges are the order of the day from Brisbane City Council, with works underway to make commuting by foot and bike much more efficient.
The first major park in Brisbane for more than 50 years will be the ideal way to offset some of the major construction in our CBD and be a tourist feature with even more green lifestyle features.
All these projects are designed to keep up with demand from local communities for a focus on convenience and green space as Brisbane gets busier.
Such an exciting time to be witnessing a change to old Brisbane town!
Article Source: propertyupdate.com.au
Two green bridges underway, Brisbane City Council seeks feedback on two more
Construction on two green bridges linking Brisbane’s inner-city suburbs is slated to begin this year, but the location of three other planned bridges remains unclear.
- Brisbane City Council pledged $550 million for five green bridges in 2019
- Two bridges begin construction this year and two others are out for consultation
- A planned bridge at Bellbowrie has been scrapped
In 2019, Lord Mayor Adrian Schrinner made a $550 million pledge to build five new green bridges, catering for pedestrians and cyclists, to reduce vehicle traffic and improve the city’s connectivity.
At Tuesday’s public and active transport committee meeting, Brisbane City councillors were given an update on the progress of the green bridges program.
Public and active transport committee chairman Ryan Murphy told the committee the council wanted state or federal funding support alongside the $550 million already committed.
The $190 million Kangaroo Point green bridge will be 470 metres long and 6.8 metres wide, with separated cycling and pedestrian lanes, linking the inner-city suburb with the City Botanic Gardens.
Construction on the Kangaroo Point and Breakfast Creek bridges will begin this year, with the council now out to tender for both.
Consultation for two West End bridges
Community consultation on the bridges from West End to St Lucia and West End to Toowong was extended following concerns the December-January consultation was too short.
For the West End bridges, suggested locations put forward by Brisbane City Council would either place the landing pads on public parks, such as Orleigh Park in West End and Guyatt Park in St Lucia, or on private property.
Greens councillor Jonathan Sri, in whose ward both West End bridges would sit, said it appeared the third option for the St Lucia bridge — between Keith Street in St Lucia and Boundary Street in West End — was most supported.
“I’ve heard from several residents who’ve said they think the Option C location for the St Lucia bridge is preferable from a transport perspective, but they have concerns about the scale and design of the exact alignment proposed by council, and the associated home resumptions,” Cr Sri said.
“The vast majority of residents seem to prefer alignment Option A for the Toowong Bridge, and it seems like the Toowong bridge in general has a lot more support.”
Option A for the Toowong bridge would see the bridge land at 600 Coronation Drive — the former ABC Towoong site now owned by developers Sunland, but put up for sale late last year.
Last year, Cr Schrinner ruled out purchasing the 600 Coronation Drive site saying the cost would be prohibitive, but said the council would consider resuming a portion of the land for a green bridge if needed.
LNP councillor James Mackay, in whose ward of Walter-Taylor the two bridges would land, recently spoke at a rally for a group opposed to a possible Guyatt Park alignment for the St Lucia to West End Bridge.
Cr Mackay referred queries about his community’s opinions to the lord mayor’s office.
Fifth green bridge site unknown
In mid-2020 a fifth proposed bridge, from Belbowrie to Wacol, was scrapped after several rounds of community consultation found little support.
The council is preparing options for a fifth bridge location, the committee heard.
Deputy Labor leader Kara Cook in a statement said she had lodged a petition with more than a thousand signatures calling for a bridge on the eastern side of the river.
Cr Cook said a bridge in her area — around Bulimba and Hawthorne connecting across to New Farm or Teneriffe — had been mooted since at least 1925.
Technical challenges are greater for the eastern section of the river as any new bridge must be of a height to allow ships through and would span a wider section of water.
Article Source: www.abc.net.au
Commercial Market Update – Brisbane Fringe Cityscope February 2021
The latest research from Brisbane Fringe Cityscope shows in the last three months property sale numbers have increased but sales figures have had a slight increase. The last three months to the beginning of February 2021 recorded 22 sales for a total of $114.2 million, with $23.7 million for commercial, $4.4 million for commercial strata, $4.2 million for retail, $4.3 million for retail strata and $77.5 million for other.
In comparison, the last three months to the beginning of November 2020 recorded 14 sales for a total of $98.9 million, with $86.2 million for commercial, $1.5 million for commercial strata, $800,000 for retail strata and $10.5 million for other.
The 12 months leading up to early February 2021 recorded 60 sales for a total of $323.5 million, more than $212.6 million less than the same time last year.
The table below shows sales recorded for the past eight updates of Brisbane Fringe Cityscope:
Significant sales recorded this quarter total nearly $80 million, these sales include:
After a failed sale to iProsperity, interests associated with Amora Hotels & Resorts have purchased the 296-room Novotel Brisbane Hotel for just over $67.8 million; the hotel will be rebranded following Novotel’s lease expiring in late April this year. JLL Hotels & Hospitality Group negotiated the sale. The hotel last traded for $63.5 million in 2010.
A three-storey child care centre at 20-22 Marie Street, Milton has been sold for $8.435 million; it was purchased through The Trust Company (Australia) Limited. The property, formerly an office building, was extended and refurbished in 2018 for use by the a 120-space child care centre. It previously traded for $6.15 million in 2017.
Developer, builder and property managers, Pellicano, have purchased 68 Brunswick Street, Fortitude Valley for $8 million from Metro Property Group. The property was originally going to house stage 4 of the adjoining Central Village development. The 5,374 sqm site was sold through JLL Brisbane and has Council approval to demolish the existing buildings on site.
Properties for sale include:
- Lanmor House, 124 Brunswick Street and 52 Amelia Street – a two-storey office building and a two-storey warehouse/office building, with a combined area of 960 sqm and associated car parking. For sale by expressions of interest, closing February 24, 2021; agent, Colliers International (Hunter Higgins and Nick Wedge).
- 29 Amelia Street, Fortitude Valley – two-strata units (the whole building) with a combined 828 sqm of office space over two levels, plus ground floor car parking for 20 vehicles. For sale by expressions of interest, closing February 18, 2021; agent, C Property Qld (Sam Callanan and Joe Kennedy).
- 196 Wickham Street, Fortitude Valley – a two-storey retail/entertainment building with lower ground level to the rear. For sale by offers to purchase; agent, Commercial Brisbane (Glenn Corrigan and Tom Chan).
Properties under contract (conditional or unconditional) include:
- 38 Warry Street and adjoining car parking at 41 Kennigo Street – 2,955 sqm of office space (the former Keatings Bread Factory site) and an adjoining carparking for 20 vehicles. Under contract; agent, Cushman & Wakefield Brisbane (Peter Court and Mike Walsh) and CBRE Brisbane (Jack Morrison and Peter Chapple).
- 72 Costin Street, Fortitude Valley – a single-storey plus mezzanine, brick office building with car parking for 15 vehicles. Net lettable area, 507 sqm. Under contract unconditionally with a long, one-year settlement period expected; agent, Colliers International Brisbane (Hunter Higgins and Nick Wedge). The property was advertised with a potential leaseback agreement from 9-months to three-years.
Article Source: www.corelogic.com.au
Brisbane, Gold Coast, Perth outstrip Sydney and Melbourne prestige property markets
The hunt for a house that’s not just a home, but a COVID-free castle, has pushed up prestige property prices in Perth, the Gold Coast and Brisbane, with a new report revealing the three cities outstripped the nation’s two biggest capitals during 2020.
The Knight Frank Wealth Report 2021, released today, also revealed the trio made a global splash in the Prime International Residential Index (PIRI 100), which tracks the movement of luxury home prices across the world’s 100 best residential markets.
Off the back of surging buyer demand, low interest rates and a greater emphasis on lifestyle, the three cities, with Perth in the lead, were ranked in the top 44 of prestige markets, after they each clocked up annual price growth of more than 2.5 per cent.
Sydney was ranked 56 – after prestige home prices grew just 1.1% – while Melbourne came in at 63 after prices rose 0.9 per cent.
A roaring resources sector and a push towards relaxed lifestyle locations saw Perth not just top the national list and rank 34th globally, but dramatically leap from last place among Australian capital cities in 2019 after prestige property prices soared by 3.6 per cent last year.
Luxury home prices in the Western Australian capital had remained almost stagnant the year before, rising by just 0.9 per cent.
The Gold Coast achieved a global ranking of 36 after prices grew by 3.2 per cent – compared to 1.8 per cent growth the year before.
Article Source: www.domain.com.au
- Property Management6 years ago
7 Common GST Mistakes On Property
- Residential4 years ago
Ipswich Proves Frontier In Affordable Housing
- Infrastructure3 years ago
Decision on horizon for key marina section of huge North Harbour development at Burpengary
- Market Place3 years ago
How to make $1 million ‘flipping’ houses
- Developments3 years ago
Brisbane and interstate investors drawn to up-and-coming King Street precinct
- Market Place3 years ago
Moreton Bay makes top 10 list of places to invest in property
- Brisbane2 years ago
Queensland leads the way in market recovery
- Developments4 years ago
Caboolture West could be Australia’s next major regional centre