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Brisbane's New World City transformation is well and truly underway, with a once in a generation level of major infrastructure investment that will completely redefine its visitor and living experience.
The transformation of Brisbane continues with a once-in-a-lifetime level of major infrastructure projects set to transform the ever-changing landscape of the Sunshine State and truly establish it as a destination of choice and an exceptional opportunity with astute local, interstate and international investors alike.
A powerful combination of strong employment and population growth, record low-interest rates, a declining apartment supply, and an astounding level of infrastructure investment, are providing the perfect conditions to maximise the ‘effortless advantage’ in residential property investment and deliver strong value-uplift.
Cross River Rail – $5.4 Billion
Cross River Rail is a 10.2km rail line between Dutton Park and Bowen Hills that includes a 5.9km twin tunnel under the Brisbane River and the CBD. The fully-funded project includes four new underground stations at Boggo Road, Woolloongabba, Albert Street, Roma Street, and redevelopment of two existing overground stations at Dutton Park and the Exhibition, which will be used by 164,000 passengers daily. Each new station will generate unique opportunities for property development and economic growth and revitalisation of these inner-city precincts.
Woolloongabba Masterplan – $100m
The Woolloongabba Masterplan concept incorporates the Cross River Rail Woolloongabba Station precinct which will be transformed into a vibrant mixed-use hub, linking commercial, residential and retail development with access to world-class public transport and one of Australia’s most iconic sports stadiums. Set just 2km south of Brisbane’s CBD, the Woolloongabba Masterplan includes a stadium upgrade and the revitalisation of the 11-hectare site to include landscaped public gardens with big screens, and walkways over Main, Vulture and Stanley streets.
Queen’s Wharf Precinct – $3.6 Billion
This historic 26ha integrated resort development will include four luxury hotels, more than 50 new bars, and restaurants and 2,000 residential apartments. The 500m foreshore includes a newly created Mangrove Walk and updated Bicentennial bikeway which opened in October 2019. The public space is integrated into the design and is equivalent to 12 football fields. With a 6-star Green Star Communities rating, the entire wharf precinct is scheduled to open in late 2022.
Construction is advancing well, with completion earmarked for late-2022.
RNA Showgrounds Masterplan – $2.9bn
Representing the largest brownfield development of its kind in Australia, the 22-hectare RNA Show Grounds is seeing a significant redevelopment comprising residential, commercial office and retail. The project has already seen the completion of the state-of-the-art Royal International Convention Centre, along with 5.5ha of new development and is expected to generate $300m per annum in economic benefit, as well as over 2,000 jobs.
Brisbane Live – $2 Billion
A $2 billion arena-centred entertainment precinct at Roma Street, Brisbane with a Madison Square Garden-style 17,000 seat entertainment arena as its centrepiece, along with outdoor amphitheatres, cinemas, restaurants, bars, hotels, and residences.
Waterfront Brisbane – $2.1 Billion
“Waterfront Brisbane” is the newly redesigned $2.1 billion Eagle Street Pier precinct redevelopment recently released by Dexus. The scale and central riverfront location of the Brisbane precinct will create a world-class tourism and leisure destination. The new development will see two mixed-use towers built on the Eagle Street Pier site along with 7,900sqm of open space, upgraded wharf facilities, and an enhanced riverwalk. This landmark project is estimated to provide a $5.7 billion boost to Queensland’s gross state product over the next 40 years, including $230 million in value add to Queensland’s construction and professional services sectors. Construction is expected to commence in 2022.
Victoria Park Redevelopment – $1 Billion
Touted to be one of Australia’s most iconic parks, the Victoria Park redevelopment is now one step closer, with Brisbane City Council releasing the draft vision. Budgeted at just under $1 billion for the new parkland infrastructure, Victoria Park Golf Course will be transformed into a 45-hectare sanctuary, and its proximity to the city and the Brisbane Metro will further drive national and international tourism to Brisbane.
The parkland masterplan includes a 1.4 ha water activity lake, wetlands with boardwalks and trails, an all abilities high ropes course, mountain bike trails, children’s water park, skate park, tennis courts, sports fields, golf skills green and cricket nets. Also included will be a Cultural Hub with installations, indigenous art, and sculpture park, and a large community garden and urban farm.
Brisbane Metro – $1.14 Billion
The $1 billion Brisbane Metro project will provide a 21km service that connects 18 stations along dedicated busways, creating a more integrated transport network of Metro, bus and train services. The high-frequency public transport system will cut travel times, reduce CBD bus congestion and improve services to the suburbs. By fixing critical bottlenecks in the inner-city, and introducing new, high-capacity electric metro vehicles, it will provide a cost-effective and sustainable solution to Brisbane’s bus congestion issues. Early works have commenced this year and the first stage is underway, with services scheduled to commence from 2023.
Albion Exchange TOD – $750m
Brisbane City Council has recently given the green light for Brisbane’s latest transit-oriented development, the Albion Exchange. The future heart of Albion, the project is set to deliver 3,691sqm of public green space, a focus on health and lifestyle services, and a brand new retail precinct.
Transport Infrastructure Upgrades
In addition to these exciting transformative projects, the Queensland Government will spend a further estimated $14 billion on statewide infrastructure for transport upgrade projects.
This includes the Melbourne to Brisbane Inland Rail ($10bn), the second M1 / Commera-connector ($2.4bn), Kingsford Smith Drive Upgrade ($697m), Valley Metro renewal ($500m), Brisbane’s new Cruise Ship Terminal ($158m), Neville Bonner Bridge ($70m), the Indooroopilly River Walk ($58m), and various Green Bridges over the Brisbane river connecting Kangaroo Point to Newstead, Toowong to West End and St Lucia to West End ($550m).
Retail, Education and Health Infrastructure
Queensland’s health precinct will see Herston Quarter established ($1.1bn), while the education sector will see Griffith University leave its Mount Gravatt campus and establish a brand new vertical facility in Roma Street ($1bn). Retail will also receive a boost, with Brisbane Auto Mall ($300m) and a Performing Arts Centre ($150m).
Brisbane Airport Second Runway – $1.4 billion
Howard Smith Wharves – $200 million
Mercedes Autohaus – $100m
Brisbane will soon be claiming its place as one of the world’s most liveable cities. If you’re thinking about investing, then this is the city that you need to seriously consider, and fast.