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Brisbane – A Changing City

When the 2014 Brisbane City Masterplan was released, we were hearing a lot of talk about Brisbane on the cusp of becoming a ‘New World City’. Infrastructure has been heavily invested in over the last few years, and we are at an exciting moment as a number of these city-shaping projects are reaching their final stages.

As part of the infrastructure program, a series of entertainment zones which are emerging across Brisbane, making the city come to life along the riverbanks. The ongoing developments and planned infrastructure enhancements are expected to be a catalyst to fuel Brisbane and SEQ’s future tourism, business, employment industries and boost the economy.

This infrastructure is exciting not only for the lifestyle elements it brings to Brisbane, but it’s also about the long-term effect on the Brisbane economy, workforce and lifestyle.

Brisbane – A Vibrant River City

The following projects are on track to revitalise the banks of the Brisbane River:

QUEENS WHARF

  • Construction has commenced on this $3.6 billion Integrated Resort Precinct
  • The construction is predicted to generate some 3,000 jobs, with 8,000 permanent jobs at Queens Wharf upon its completion
  • It will be home to:
    • Five new hotels (three of six-star rating)
    • Three new residential towers
    • 50 restaurants and bars fully accessible to the public
  • Covers more than 12-hectares of land in Brisbane CBD
  • Expected to become a catalyst for tourism
    • Queensland is predicted to see an influx of 1.39 million additional tourists each year due to this precinct

5 NEW GREEN BRIDGES

A major program costing at least $550 million aimed at tackling traffic congestion, improving public and active transport and creating a healthier, more active city was announced in March with five new bridges earmarked for Brisbane:

  • Kangaroo Point Green Bridge
  • Toowong to West End Green Bridge
  • St Lucia to West End Green Bridge
  • Breakfast Creek Green Bridge
  • Bellbowrie Green Bridge

CITY REACH

Brisbane City Council is preparing a master plan for the City Reach Waterfront that will explore how the area can continue to evolve into a world-class employment and lifestyle precinct:

  • Master-plan will be released later this year for consultation
  • Plan encompasses 1.2km river frontage, 1.6ha public space & 30+ dining destinations
  • Includes:
    • $1.4 billion planned investment to transform Eagle Street Pier
    • $110 Million Howard Smith Wharves Revitalisation Project

HOWARD SMITH WHARVES

  • 3.43 hectare site will be transformed into a riverside precinct with more than:
    • 2.7 hectares of public open space for markets and festivals
  • $110 million revitalisation
  • Opened late 2018
  • Includes a new 5 star Art Series boutique hotel
  • Parkland and public open spaces with lifts providing access to the top of the cliffs
  • 1,500sqm exhibition space
  • Future plans include a proposed New Ferry Terminal

BRISBANE LIVE

  • Part of Roma Street Station zone – Brisbane Transit Centre ear-marked to be demolished by 2020 to make way for Cross Rive Rail’s new underground Roma Street Station and Brisbane Live
  • Brisbane Live will be a $2 Billion Indoor Arena
    • 15,000 seat venue
    • Within walking distance of Suncorp Stadium
    • Venue designed to host major live concerts & world class sporting events, right in heart of the city

CROSS RIVER RAIL

  • $5.4 billion rail line from Dutton Park to Bowen Hills
  • 10.2 kilometres in total which includes 5.9kms of tunnel under the Brisbane River and CBD
  • Cross River Rail will be operational in 2024
  • Contractors announced in April 2019, to be onsite later this year
  • Includes 4 new underground stations at Boggo Road, Woolloongabba, Albert Street, and Roma Street, and upgrades to Dutton Park and Exhibition stations

TRANSAPEX MASTERPLAN

  • Completed $10 Billion road transport plan and a multi-billion dollar tunnel project
  • Enables reduced travel times to the CBD, the Airport and south of the Brisbane River
  • The biggest urban road network proposal in Australia, with all infrastructure objectives designed to intertwine to create a highly sophisticated road system

BRISBANE AIRPORT – NEW PARALLEL RUNWAY

  • New Parallel Runway (NPR) is considered the biggest aviation project in Australia
  • Expected opening in mid-2020
  • The new runway site is 360ha (2.5 times the size of the Brisbane City CBD)
  • Additional $5 billion in annual economic benefit to the region by 2035
  • 7,800 jobs generated by the new runway by 2035

As the city transforms, access to employment, lifestyle, and entertainment will continue to drive the property market.

At Which Property we specialise in tailored property solutions for investors and owner-occupiers alike. We can help you understand your goals and find property solutions suited to you. Contact us today for more information.

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