Toowoomba’s Wagner family is moving ahead with ambitious plans for a $230 million motorsport and arts centre in the Queensland city.
The family has outlined plans for a new entertainment precinct, set to incorporate a motorsport circuit, driver-training facility and a 40,000 person performing arts venue, alongside its privately-owned Wellcamp Airport.
The development, which has been touted for a number of years, will also feature dwellings to accommodate up to 5,000 visitors.
Plans for the racetrack were drawn up by engineering firm IEDM with input by Supercars legend Mark Skaife and MotoGP world champion Mick Doohan.
The project also has memorandum of understanding with Supercars for a championship round once the circuit is complete.
The Queensland government, which flagged the project as a potential driver for economic activity in Toowoomba and the Darling Downs region, will provide $40 million in funding.
“The Wagner family will invest with the state and federal governments support in the order of $95 million of our assets and funds into this project,” Wagner Corporation chairman John Wagner said.
“We are keen to start construction early next year to help kick-start the economy post Covid-19.”
The project is expected to support 130 jobs during construction and up to 2,500 jobs when operational.
Wagners Holding Company, which has 532 full-time employees and contractors, is the largest independently owned cement and building materials manufacturer in south-east Queensland.
It was established in 1989 by Henry, John, Denis, Neill and Joe Wagner, and now commands more than $1.1 billion in wealth. The company was listed on the ASX in 2017.
Wagners specialises in construction materials, producing and selling cement and products such as fly ash and composite fibre building materials to more than 450 customers. It also offers contract crushing and haulage services.
Wagner said work on the Wellcamp project could start as early as next year and could potentially hold an end value of between $250 million with additional facilities.
The precinct could also feature a rally-cross circuit, karting circuit, off-road circuit and tracks, and a smaller concert amphitheatre.
It will sit alongside the family’s Wellcamp Airport, Australia’s first privately-funded public airport, and the first public airport to be built in 50 years.
The airport, which prior to coronavirus restrictions welcomed 1.2 million passengers annually, features a 13,000sq m terminal and boasts four departure gates.
This article is republished from theurbandeveloper.com under a Creative Commons license. Read the original article
National property boom to be turbo-charged by infrastructure-led economic recovery: Hotspotting’s Terry Ryder
The latest price data from Domain shows a strong performance by house prices right across Australia. I’m predicting a national property boom in Australia in the near future and the Domain figures confirm that the strong up-cycle is already under way in many parts of the nation.
These figures show that every capital city had growth in their median house prices in the September Quarter – except Melbourne where there was no change. These figures are similar to recent data from other notable sources, including SQM Research and CoreLogic.
Apartment markets have been less bullish, and some capital cities have dropped (impacted by high CBD vacancy rates in the big cities), but even there the national averages are a 0.1% rise in the September Quarter and a 2.2% rise annually.
The numbers overall are quite remarkable amid a pandemic-induced recession. In the September Quarter alone, house prices grew by 2.8% or more in four of the capital cities: Adelaide, Hobart, Darwin and Canberra. Hobart rose 6.9% and Darwin by 6.6% – in the September Quarter alone.
Many readers will be scratching their heads. We never hear about these markets, do we? We hear a lot about Sydney and Melbourne, but when’s the last time you read an article about the strong Adelaide housing market or Canberra property prices. How many are aware of the strong recovery under way in Darwin and also in Perth.
In annual terms, all capital cities have house prices higher than a year ago. The national average is a rise of about 5% but individual cities have done much better. Hobart house prices are 16% higher than a year ago and Canberra is up 10%. Sydney, Adelaide and Darwin have all risen 7%.
This reflects what we have observed month-by-month since the start of the pandemic, based on CoreLogic figures. Sydney and Melbourne have had numerous months in which house prices have dropped but the other capital cities have had growth months most of the time.
Canberra has produced house price growth in each of the past seven months and Adelaide has had growth in six of the seven months since February. Perth, Brisbane and Darwin recorded some down months, but bounced back in August and September, with Darwin showing particularly strong figures.
Most regional markets have had sustained growth throughout the pandemic period since February, with Regional Tasmania delivering growth in every one of the past seven months, while Regional Queensland and Regional NSW delivered uplift in six of the seven months.
This strong showing by Regional Australia is seen also in the Domain figures just published. Despite the overall positive performance in the capital cities in the September Quarter, the capitals were out-performed by the regional markets.
Domain reports that many regional markets have seen double-digit increases in their house prices, with some rising as much as 30%. Regional markets in Victoria, NSW, Tasmania and Queensland all have outstanding growth performances.
Among the best have been the Southern Grampians in Victoria (up 31%), the Byron Bay region in NSW (up 29%), Forbes in NSW (up 22%), the Isaac LGA in Queensland (up 23%) and the Derwent Valley in Tasmania (up 28%).
My own price analysis in recent weeks confirms strong regional uplift, with notable growth in the top end of the Sunshine Coast market, with some suburbs up about 30% in annual terms.
Now think about it. We’ve all seen the headlines, which were particularly strident in March and April, forecasting a collapse in property prices.
But residential property has not collapsed. It has done rather the opposite. Prices are rising in most locations around Australia. The national property boom I’m forecasting is already under way in many parts of the nation.
And the infrastructure-led economy recovery planned by federal and state politicians will turbocharge this trend. Stay tuned.
TERRY RYDER is the founder of hotspotting.com.au Article was first published on Property Observer
Construction of Brisbane’s first new and highly anticipated golf course in 70 years has begun
Construction of the long awaited Minnippi 18-hole championship public Golf Course and club in Cannon Hill is underway after receiving approval from Brisbane City Council earlier this year.
The golf course stretches between the Fursden Road playing fields at Carina and the hill beside Cannon Hill Shopping Centre.
The golf course will be the first of its kind for the area and will have everything for golf beginners to championship professionals, with a standard championship length 18-hole game, two nine-hole courses and a shorter six-hole course.
The 125 hectare site which the public golf course is being built on is located on the unused Brisbane City Council land on the western side of Bulimba Creek, east of Creek Road and north of Fursden Road at Cannon Hill. Bulimba Creek separates the development site from the existing Minnippi Parklands recreation area.
Along with construction delivered by one of Australia’s biggest construction companies, BMD, Council have planted 80,000 native trees on the site. The golf course is effectively an expansion of the Minnippi Parklands at Tingalpa and will remain in public hands and be operated by the council.
This year’s pandemic has seen a tough year for construction, however the golf course moves ahead into its next stage, which will provide a great boost for local jobs and supplier opportunities. The course surrounds and brings a picturesque backdrop to Azure Development Group’s recently completed residential enclave, Cornelia Edition.
Cornelia Edition is an exclusive gated community offering 31 luxury golf course terraces with resort-style amenities for residents. Primely located in the East Brisbane suburb of Cannon Hill, the terraces interact directly with the new golf course and benefit from the areas diverse and amenities with a strong community feel.
Cornelia Edition brings resort living inspired by the Palms Springs lifestyle with resident amenities including a large resort-style pool, outdoor lounge, fireplace, and open leisure area with a selection of terraces enjoying uninterrupted views of the parklands.
Residents of Cornelia Edition will benefit from the lush green views of the high end golf course by having a direct interface to one of the holes and the natural amenity of the community. Parks, connected bikeways and the convenience of good public transport provides residents with a peaceful and easy lifestyle.
Construction on the exclusive housing enclave has completed and work on the golf estate is expected to be finished in 2022.
Palaszczuk’s plan for ‘freight freeway’ from NQ to NSW border
The Labor leader and Liberal National Party leader Deb Frecklington are both hitting the hustings in the key state election battleground of Townsville on Wednesday.
Palaszczuk says if she’s re-elected she’ll build a second Bruce Highway parallel to the coastal road between Charters Towers and Mungindi.
“A second Bruce Highway would take trucks off the existing Bruce, making it safer for communities from Gympie to Townsville,” she wrote on her Facebook page on Wednesday morning.
Her promise rivals an earlier pledge by the LNP to widen the existing Bruce Highway from two to four lanes for 1450km from Curra to Cairns.
Frecklington’s plan would cost $33 billion over 15 years, with the state chipping in $440 million annually and the Federal Government expected to cover the rest.
The pair are unlikely to have an awkward rendezvous in Townsville on Wednesday.
Frecklington is preparing to make her big pledge on law and order in the garrison city, where she says crime is out of control.
It’s expected that the LNP leader will make a major funding promise at a police academy.
Frecklington will then fly north to Cairns to make a second announcement in the afternoon.
Townsville is a key electoral battleground for both major parties with Katter’s Australian Party and One Nation also campaigning heavily.
The city’s three electorates – Townsville, Mundingburra and Thuringowa – are held by Labor MPs with the former two on margins of less than 1.1 per cent.
She is the third-most-popular premier in the country after Western Australia’s Mark McGowan and NSW’s Gladys Berejiklian, according to the survey.
Palaszczuk will also announce a $500,000 feasibility study for the North Queensland Cowboys’ former stadium to be used by emergency services.
The Electoral Commission of Queensland said on Tuesday 228,000 ballots had been cast in pre-poll voting across the state.
More than 820,000 people have applied to vote by post.
This article is republished from nqld.com under a Creative Commons license. Read the original article.
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