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Brisbane and interstate investors drawn to up-and-coming King Street precinct

Brisbane and interstate investors drawn to up-and-coming King Street precinct
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Developments

Government Bans High-Rise Development at The Spit

Government Bans High-Rise Development at The Spit (1)

All future high-rise developments along The Spit will be restricted to a three-storey limit following community backlash against the masterplan.

More than 23,000 pieces of feedback were submitted during an 18-month masterplanning process, prompting the state government to change regulations for the area.

Originally The Spit’s masterplan for an “Ocean Park” included turning 140-hectares into light rail stations, super-yacht berths, and a proposal for an ocean cruise ship terminal.

While The Spit masterplan was drafted, ASX-listed developer Sunland withdrew an application for a proposed $600 million residential project on the site which included two 44-storey towers.

Last month Sunland put the 3.9-hectare Mariner’s Cove retail village and marina precinct on the market.

Government Bans High-Rise Development at The Spit (2)

Minister for Planning Cameron Dick said the changes were made because The Spit had an unsurpassed natural beauty that the Gold Coast community was rightly passionate about.

“The message was clear: the community broadly supported a three-storey height limit being imposed,” he said.

“The new regulation delivers on our commitment to support the community’s expectation for low-rise development on The Spit.”

Amendments were made to the Planning Regulation 2017 to prohibit development over three-storeys or 15 metres.

“The height limit will apply to buildings and structures within the building height control area, including Sea World, Sheraton Mirage and all land south towards Southport Yacht Club,” Dick said.

Government Bans High-Rise Development at The Spit (3)

“Outdoor rides within Sea World will be exempt from the height limit, however, new buildings in the theme park will have to adhere to the three-storey limit.

“This regulation change will ensure future development integrates with the existing landscape and maintains the prominence of The Spit’s natural values.”

Gold Coast Waterways Authority chief executive Hal Morris said they would be collaborating on the implementation of the masterplan.

“The waters and foreshores around The Spit are a real asset, so it’s important the connection between the land and water is maintained,” he said.

City of Gold Coast mayor Tom Tate welcomed the news and said council’s $35 million investment for transport and access upgrades along The Spit would also improve the visitor experience for locals and tourists alike.

“Maintaining the height limit will ensure the natural character and charm of The Spit continues in line with community expectations,” he said.

 

 

Source: theurbandeveloper.com

 

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Brisbane

Frasers Property to transform Brisbane quarry into masterplanned community

Frasers Property to transform Brisbane quarry into masterplanned community

A new masterplanned residential community in Brisbane is one step closer to fruition following the acquisition of a quarry by Frasers Property.

The site, nine kilometres north west of the Brisbane CBD in Keperra, was bought by Frasers for $31 million, and has an estimated gross domestic value of $234 million.

Following a community engagement program the site has approval for the development of a master planned residential community with up to 700 homes to be built.

Approximately 60 per cent of the 48.7-hectare site will be open green space.

The site, currently a quarry, is one of the most elevated areas of land in Brisbane, ranging from 80 to 190 meters above sea level, which general manager of Residential Queensland at Frasers Property Scott Ullman says will result in some spectacular views.

“The design for the master planned community is still being refined however most of the residential dwellings will be built between 100 and 145 meters above sea level, creating some spectacular views to the Glasshouse Mountains,” says Ullman.

“The elevation is a real point of difference for this site, enabling us to apply our design and development expertise to maximise the natural advantages of being so high up.”

In addition to the residential dwellings, parks, and conservation areas, a 7,000sqm neighbourhood retail and childcare centre is also planned for the development.

Ullman says the new community will offer people choice with a combination of detached, low density and medium density terrace homes.

“In a substantial commitment to revegetating the Keperra hillside, more than half of the site will be open space, comprising conservation land and stabilisation and rehabilitation of the quarried hillside,” says Ullman.

“The remainder will be developed as residential retail, roads and infrastructure.”

Frasers hopes to launch the design of the new community in 2021.

 

 

Source: www.businessnewsaus.com.au

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Brisbane

Plans Lodged for $200m Twin Tower Brisbane Apartments

Plans Lodged for $200m Twin Tower Brisbane Apartments (1)

Maple Development Group, wholly-owned by China-based developer Peng Bo, has lodged plans for a $200 million mixed-use project in Brisbane’s Quay Street precinct.

The Rothelowman-designed project at 57 Coronation Drive proposes 255 residential apartments, a five-star serviced apartment tower, commercial offices along with retail and entertainment facilities.

Construction of the 30-and-35 storey towers is expected to commence in 2021 pending development approval next year.

Maple, which established its Brisbane base in 2015, broke into Brisbane’s apartment market last year with the launch of the $20 million development Arcadia apartments in Brisbane’s inner west suburb of Indooroopilly.

Last year, Gold Coast developer Sunland was rejected in the supreme court for its 555 apartment proposal of ‘champagne flute’ skyscrapers on Coronation Drive, in nearby Toowong.

Sunland had secured the former ABC site for its three-tower proposal, zoned with a 15-storey limit, for $20 million in 2013.

Plans Lodged for $200m Twin Tower Brisbane Apartments (2)

Maple’s development manager Gilbert Zhu says the Coronation Drive project plans to connect the CBD with inner Brisbane suburbs Milton, Petrie Terrace and South Brisbane.

“The proposed development intends to reinvigorate a residential and lifestyle precinct on Quay Street by including a large Queensland-inspired public realm,” Zhu said.

“We’ve gone to great lengths to ensure that the project will make a significant contribution to the city of Brisbane.”

Rothelowman principal Jeff Brown said the project was inspired by Brisbane’s sub-tropical lifestyle.

“As Brisbane’s population and popularity with tourists increases, we expect that the north western CBD pocket will grow into a prominent destination,” Brown said.

Maple has also acquired development sites in Brisbane’s Woolloongabba and St Lucia, thanks to the financial backing of its company body which is headquartered in Zhuozhou China.

The group has delivered more than 30,000 units in China in recent years, along with one of the largest proton therapy cancer treatment facilities in the region, located in Zhuzhou.

Peng Bo Group also has agricultural interests in Queensland with a nursery on the Gold Coast and farmland at Beerwah on the Sunshine Coast.

 

 

Source: theurbandeveloper.com

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