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Brisbane Developer Lodges Proposal for 40 Apartments in North Brisbane

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Brisbane developer Raise Projects has lodged plans for a 6-storey mid-rise residential building in Brisbane’s north.

The 17-21 Wesley Street, Lutwyche site, 5km north of Brisbane’s CBD, is currently occupied by three residential homes.

Designed by Nam Concept, the development will comprise 40 apartments and provide 79 car parks, 82 bicycle parks as well as a communal rooftop terrace.

The building will join two other mid-rise residential developments currently under construction on Wesley Street.

If approved, Raise Projects will add 40 apartments to a pipeline of more than 70 apartments in the area.

The proposed building sits in a hub of amenities and public transport options, close to Lutwyche Bus Interchange and Wooloowin Railway Station for easy access to the city.

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A 6-storey apartment block has been approved opposite the proposed site located between 10-12 Wesley Street.Image: Hamilton Hayes Henderson Architects

Other development in the area includes Walker Property Group’s plans for a 32-apartment building at 16-22 Wesley Street designed by OGE Group Architects.

A 6-storey building has also been approved between 10-12 Wesley Street for 38 apartments.

Inner Brisbane currently has about 9,000 apartments under construction across 46 separate projects.

It seems Brisbane has weathered the worst of its apartment market slump with stability returning to the market as sales rates absorb the current supply.

Research released by Urbis affirms the view that the tide is beginning to turn in Brisbane’s apartment market.

The owner-occupier market has continued to underpin a strong demand for inner-Brisbane’s apartment stock in the wake of “oversupply concerns”.

Inner Brisbane approvals for the last quarter totalled 1674 apartments.

Total approved future supply for Brisbane’s inner south apartment market currently sits at 8,481 while Brisbane’s inner north currently has 7,653 approved apartments.

Source: theurbandeveloper.com

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Developments

Brisbane Development Site Available for First Time in a Century

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Brisbane Development Site Available for First Time in a Century

Expressions of interest are being sought for two nearby development sites that are being offered to the market for the first time in over 120 years at Broadwater Terrace and Marine Street, Redland Bay, Queensland.

The total site size of 1.933ha comes with 36 existing titles, and consists of a northern “island site” parcel and a southern parcel, with purchasers able to buy either one or both sites.

The asset, zoned medium density residential, is being marketed by Ray White Special Projects Queensland’s Andrew Burke and Matthew Fritzsche and Ray White Commercial Bayside’s Nathan Moore and Jonathon Burrowes.

“The last time this land parcel was available to the market, planning for the construction of the Story Bridge hadn’t even begun, so this really is a once-in-a-century opportunity,” Burke said.

“Across the road the northern parcel of 1.7 hectares comprises an ‘island site’ forming the amalgamation of 32 existing titles, which are partly utilised for residential housing and partly utilised for farming purposes.

“The individual allotments are estimated to range in size between circa 450sq m and circa 815sq m.

“The southern parcel of 2,343sq m comprises the amalgamation of four adjoining allotments, forming a corner site with frontage to both Marine Street and The Esplanade. The site is improved with two dwellings.

“Any multi-storey would be provided with significant views of the bayside.”

“The total site has two existing development approvals, the first of which is for a material change of use for a 28-unit apartment building,” Fritzsche said.

“The second approval is on a portion of the northern parcel for mixed use apartment building/tourist accommodation comprising 90 units, shop, and refreshment establishment.

“The sites are also within walking distance to the Redland Bay Marina, as well as the Redland Bay Hotel, cafes, shops, banks and an IGA.”

“Redland Bay is a picturesque suburb and sits just 40km south west of Brisbane CBD and is just 10km from Cleveland.

Brisbane Development Site Available for First Time

Ian Gordon said the land was of great historical significance to his family, with their great grandfather David Slawson originally purchasing the site around the turn of the century.

“David Slawson was a pastry cook who left Kingston upon Thames in England and started a pastry shop beside T C Beirnes in the Valley,” Gordon said.

“He was quite successful at this and is mentioned in the book, History of Queensland. He also ran and owned the Redland Bay Hotel and catered for guests to stay on holidays.

“His daughter Florence Slawson inherited the land and later married Charles Gordon, who became the Shire Clerk of the Tingalpa Shire before the Redland Shire existed.

“Charles then became the Shire Clerk of the Redland Shire when it was named. The land was farmed along with other parcels, growing small crops, custard apples and bananas.

“The ownership later transferred to my uncle Robert Gordon and my father Jack Gordon who was Councillor and Deputy Chairman for the local council for a period of 30 years.

“I’ve since farmed the land for approximately 40 years growing bananas. There have been five generations who have lived on this land.”

Expressions of interest close on Wednesday, 6 March 2019.

 

Source: theurbandeveloper.com

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Developer Demand for Brisbane Suburban Sites

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Developer Demand for Brisbane Suburban Sites

A development site in Brisbane’s south has been snapped up by privately-owned residential aged care operator TriCare for $10.8 million.

The 4.069-hectare property in Rochedale was owned by a local family for more than 27 years.

JLL’s Sam Byrne brokered the deal, located at 20 Ford Road, via an expression of interest campaign which attracted five competitive bids.

“We received over 80 enquiries from local, interstate and off-shore developers,” Byrne said.

“The purchaser, privately owned residential aged care and retirement living operator TriCare, moved swiftly to acquire the landholding which neighbours their proposed retirement community.”

Since the rezoning of Rochedale, Byrne says a major transformation of the suburb has taken place with multiple new housing estates proposed and completed, attracting further attention for development.

Rochedale’s population is forecast to triple by 2036 according to government statistics.

“The suburb’s median house price is in excess of $1million; this is the same range as some of Brisbane’s most affluent suburbs such as Hamilton and Hawthorne,” Byrne said.

Brisbane Suburban Sites

In Brisbane’s east, developer Estates Co. has purchased two development approved sites totalling 2.23 hectares in Hemmant which sits 10 kilometres of the Brisbane CBD.

The Brisbane-based developer snapped up the properties, at 261 and 273 Hemmant-Tingalpa Road for $5 million and have approval for 36 home sites ranging from 400sq m to 600sq m.

The purchase follows on from Estates Co. acquisition of 30 Oswald Street Hemmant for $4.715 million around 12 months ago, with plans for a total of 68 residential lots.

Colliers International’s Jason Dao brokered the deal.

“Estates Co. has developed other projects in the surrounding area and has an excellent understanding of key infill sites, targeting these sites as the last available flood free land in the area,” Dao said.

Estates Co. said both projects will be developed in the first quarter of 2019.

 

Source: theurbandeveloper.com

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Yeerongpilly Green Urban Renewal Project Forges Ahead

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Yeerongpilly Green Urban Renewal

Consolidated Properties Group has commenced the retail component at its $850 million Yeerongpilly Green development in south Brisbane.

The first stage of the planned $250 million shopping hub at the heart of the urban renewal project is now under way with a $10 million restoration program for two heritage-listed properties, The Institute and The Stables.

Woolworths has also been announced as the anchor tenant for the 5,000sq m retail district and will create close to 100 new jobs once completed.

The Yeerongpilly Green development will comprise more than 5,000sq m of retail, commercial buildings, five hectares of parkland, a 103-room boutique hotel, country club, and 1,200 dwellings for 3,000 new residents.

Yeerongpilly Green Urban Renewal

Following the restoration, The Stables building will serve as an
“experience centre”, incorporating a new Yeerongpilly Green sales and display suite.

“The $5 million building will be completed mid-2019 and will be used as an experience centre incorporating a sales and display suite ready for our sales launch on 3 August at which our first 91 apartments and 10 townhomes will be formally released,” Consolidated Properties chairman Don O’Rorke said.

Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick said the recent completion of more than five hectares of parklands, new pedestrian-friendly pathways and new roads at Yeerongpilly Green had put the development on show to the public.

“Around 90,000 people recently attended the Brisbane International tennis tournament and I’m sure they would have been delighted with the progress and change this urban renewal project has brought to the area,” Dick said.

“With new parklands, new pedestrian-friendly pathways and new roads complete, Yeerongpilly Green is already putting on a show, and this highly-anticipated retail precinct with the new Woolworths will form the heart of the project and provide the shopping experience an urban renewal project of this scale merits.”

Around 50 or so buildings once stood on the 14 hectare site which runs along the Brisbane River between the Queensland Tennis Centre and Yeerongpilly Railway Station, with only a few heritage buildings still remaining which will be incorporated into the project.

Construction for the entire project is anticipated to take over 10 years and will generate around 6,600 construction jobs with The Palaszczuk Government committing $30 million towards the creation of parks, plazas and infrastructure at Yeerongpilly Green.

 

Source: theurbandeveloper.com

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