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The new city center of Maroochydore promotes real estate growth

The new city center of Maroochydore promotes real estate growth

The new city center of Maroochydore is slowly taking shape and, according to developer SunCentral, is already helping to drive real estate growth in the nearby Sunshine Coast suburbs.

The new Maroochydore City Center is located on a former 53 hectare golf course and is one of the largest CBD projects in the green field in Australia.

John Knaggs, SunCentral’s chief executive officer, said that the project, when completed, would deliver commercial, residential, retail, and mixed-use projects along with public green spaces such as parks, squares, and waterways.

“Maroochydore’s new CBD is expected to create more than 15,000 permanent jobs on the Sunshine Coast and bring in more than $ 4.4 billion to the local economy,” Knaggs said.

“The total construction cost for the 20-year project is estimated at $ 2.1 billion.”

After more than a decade of planning, the first stage of the Maroochydore City Center was officially opened to the public in August. The first buildings are under construction.

It will be complemented by other infrastructure developments in the region, including the expansion of the Sunshine Coast Airport and the recent completion of the Sunshine Coast University Hospital for $ 2 billion.

“Maroochydore’s CBD will be at the heart of a region where unprecedented investments in private and public infrastructure are being made,” said Knaggs.

“The confidence of companies on the Sunshine Coast is strong as the economy is growing four times faster than the Australian one.”

According to a real estate report by analyst Terry Ryder, average property prices in the Sunshine Coast suburbs have risen by up to 37 percent. These include the Twin Waters suburbs, which grew 21 percent last year, and Mooloolaba, which grew 14 percent.

Further north, Sunshine Beach grew 37 percent, and the Noosa hinterland suburb of Doonan grew 19 percent.

“The new CBD is at the heart of this growth. It provides a center for the growing economy and employment opportunities of the Sunshine Coast while helping to boost housing price increases in the region,” said Ryder.

The local government districts of Sunshine Coast and Noosa are expected to reach 580,000 residents by 2041.

“Population growth leads to higher demand for real estate, which in turn leads to higher values,” said Ryder.

“In fact, the region is now tending to shortage of new housing. The Property Council of Australia warns that the Sunshine Coast cannot keep up with demand.”

 

 

Source: themediatimes.com

 

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Brisbane

Rio’s New Digs Hit High Point

Rio’s New Digs Hit High Point

Hutchinson Builders has topped out the “first-of-its-kind” full merging of two separate commercial buildings in Brisbane’s $700 million Midtown Centre.

Mining giant Rio Tinto signed a 10-year lease deal in 2019 on the 27-storey, Fender Katsalidis-designed tower, developed by AM Brisbane CBD Investment, a joint venture between wealth manager Ashe Morgan and developer David Mann’s DMann Corporation.

The project involves the $175 million connection and refurbishment of the former Health and Forestry Buildings located at 155 Charlotte Street and 150 Mary Street—acquired in 2017 for $66 million—into a cross-block hub comprising a commercial tower, with a public laneway connecting both streets.

Rather than using the conventional method of joining the existing 20-storey buildings by a skybridge, the buildings have been merged from top to bottom using a base podium and exterior, to provide large campus-style 2,500sq m floor plates.

The infill is locked in by a new level 20 slab supporting an additional six levels above, to form the single 26-storey tower currently being constructed by Hutchinson Builders—who, like other “essential services” have continued work while adapting to Covid-19 social distancing measures.

Fender Katsalidis director Mark Curzon said the infill completion is a huge accomplishment in terms of commercial design outcomes, adaptive reuse and sustainability in Australia.

“Through good design, we have given new life to the buildings in a somewhat unconventional but highly innovative and technically considered manner.

“We’re leading the way for more environmentally-friendly adaptive reuse while meeting commercial objectives in creating large floorplates that would otherwise be unattainable in this CBD location,” Curzon said.

Compared with a demolish and rebuild scenario, Midtown Centre’s infill achieves a claimed 231 per cent cumulative impact reduction across all environmental indicators, including a 37 per cent carbon dioxide reduction compared to a new build.

Rio’s New Digs Hit High Point (2)

Curzon said that although the successful merging of the structures in the Midtown development rests partly on the fact that the two buildings’ original designs mirror each other, the technique was transferable.

“The infill has afforded significant environmental savings, adding to the viability of this technique and its potential to be implemented across other buildings that sit side-by-side.”

Fender Katsalidis principal James Mills said the project sets a new standard for the repurposing of buildings.

“Despite nothing of this scale or nature taking place in Australia previously, we have found a way to add value to the site through a cutting-edge architectural process that is exemplar for Brisbane and beyond.

“Our work at Midtown Centre is focused on bringing the buildings in line with today’s needs, increasing net lettable area and producing environmental sustainability through the design of commercial assets,” Mills said.

Rio’s New Digs Hit High Point (3)

Even before coronavirus created the new normal of social distancing, which in turn is set to have transformative impact on office design—Ashe Morgan chairman Michael Moss predicted the “customised office solution” prescribed for Rio Tinto would “create a benchmark for workplaces of the future”.

The centre features a level 20 “sky garden”, landscaped garden terrace atop the podium and “green seam” encasing the tower along with landscaped areas across the development totalling in excess of 3,000sq m.

With the Midtown centre slated for completion in mid-2020, the next phase of construction involves the addition of six levels to create a single tower from the new level 20 slab.

 

 

 

This article is republished from theurbandeveloper.com under a Creative Commons license. Read the original article.

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Brisbane

Barber Property Group Lodges Plans for Medical Facility, Hotel

Barber Property Group Lodges Plans for Medical Facility, Hotel (1)

Barber Property Group has lodged plans for a “sub-tropical” 15 storey private medical facility and hotel in Spring Hill.

It was the second medical facility application lodged in the Brisbane CBD fringe suburb after Silverstone Developments revealed plans for a nine-storey commercial and medical building last week.

Barber Propery’s plans for 375 Wickham Terrace would see an existing mid-rise office building demolished to build a long narrow tower.

It includes 5,307sq m of health care floorspace, 186sq m of retail, a hotel with 46 rooms, conference rooms, a business lounge and a rooftop communal area.

The 1,370sq m site opposite Roma Street Parklands was in the midst of a community and residential precinct including multiple medical facilities as well as St Joseph’s College, Brisbane Central State School and Brisbane Grammar School.

Barber Property Group Lodges Plans for Medical Facility, Hotel (3)

The decision to lodge the plans was spurred on by Covid-19 according to the development application by Barber Property Group under the guise of St Lucia Enterprises.

“The current public health situation has highlighted the need for health care services in south-east Queensland, both now and into the future,” according to the application.

“The development will support the a robust and resilient health care system to address ongoing health and accommodation outcomes in support of standard health requirements together with heightened health requirements [as currently observed].”

The new plans were consistent with an existing approval from 2015 with the amalgamation of lots, realignment of the road behind the site and construction of a new road.

Barber Property Group Lodges Plans for Medical Facility, Hotel (2)

The Arkhefield design was described as contemporary and had to be mindful of the historically-significant Theosophical Society Building next door; an 1860s duplex which was converted into medical suites by notable architect Robin Dods in 1912.

“The new podium references the composition and elements of the vernacular verandah forming part of the heritage building, through inclusions within podium facade such as columns, batten screening and trellis,” according to the application to Brisbane City Council.

The design had a focus on natural light and ventilation with large windows and a breezeway on the tower levels beside the lift.

Barber Property Group have completed over $150 million worth of projects in the past 30 years in south-east Queensland such as the Jephson Hotel in Toowong and Quest on Story Bridge.

The Brisbane-based real estate investment and development company are currently working three sites in St Lucia including Vistas apartments, Gailey Road student accommodation and Eton Apartments.

 

 

 

This article is republished from theurbandeveloper.com under a Creative Commons license. Read the original article.

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Brisbane

Construction begins on $121 million masterplanned community in Brisbane

Construction begins on $121 million masterplanned community in Brisbane

Condev Construction have commenced work on Frasers Property Australia’s $121 million masterplanned community in Brisbane’s east.

Located in Carina, a suburb situated just 8 kilometres from the Brisbane CBD, Minnippi Quarter will consist of 172 boutique terrace homes, 20 land lots, and amenities.

The 5.2 hectare residential community, developed by Frasers Property Australia, is scheduled for completion in early 2022.

Once finished 480 people are expected to call Minnippi Quarter home.

“We are thrilled to be involved in such a prestigious project that boasts a great combination of land, terrace home product and outstanding amenities in a highly sought-after area,” says Condev Construction managing director Steve Marais.

“It’s been terrific working with Frasers Property Australia again and it’s rewarding to continue being a part of their expansion.

“Condev have experienced significant success on the Gold Coast and it’s our strategy to further establish ourselves as a construction company of choice in the Brisbane area.”

Around 25 per cent of the community, which will border Minnippi Parklands, will be dedicated to green space and resident amenity.

Some of the amenities planned for the community include car and dog wash facilities, secure parcel lockers, private dining room and entertainer’s kitchen, 6,000 square metres of private parkland and a pool pavilion with BBQ dining.

 

 

 

This article is republished from www.businessnewsaus.com.au under a Creative Commons license. Read the original article.

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