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SEQ’s Future – Large scale infrastructure spending and transport connectivity
Michael Zaghini
03/12/20
With the Queensland 2020-21 Budget now handed down, South East Queensland will continue to benefit from a once-in-a-generation level of infrastructure investment. This latest news continues to reinforce why the region presents such a compelling opportunity for property investors right now.
Below we have summarised the key projects included in the Budget set to transform the region in the coming years.
Transport Investment
Cross River Rail – $1.5 billion
Cross River Rail is a new 10.2km rail line from Dutton Park to Bowen Hills, which includes 5.9km of twin tunnels under the Brisbane River and CBD. By unlocking the bottleneck at the core of the transport network, Cross River Rail will allow more trains to run more often to enable a turn-up-and-go transport system for the whole of South East Queensland.
The Sinclair by Mosaic is on the doorstep this significant infrastructure project and is located just 750m from the planned Woolloongabba Station.
Coomera Connector (Stage 1) – $3.4 billion
The Coomera Connector (sometimes referred to as the Second M1), is a future state-controlled north-south corridor between Loganholme and Nerang, east of the Pacific Motorway (M1).
The Coomera Connector corridor is wide enough for up to 6 traffic lanes and will include provision for public transport and a shared path for walking and bike riding. It will provide more transport capacity to support the rapidly growing residential and business communities in the northern Gold Coast and neighbouring Logan.
Stage 1 of the Coomera Connector has been identified as the southern section between Coomera and Nerang. Construction is expected to commence on Stage 1 in mid-2021.
Bruce Highway, Ipswich and Centenary Motorway Upgrades – $12.6 billion
The Bruce Highway Upgrade Program is the largest road infrastructure program Queensland has ever seen. It is aimed at improving safety, flood resilience, and capacity along the length and breadth of the highway between Brisbane and Cairns.
The program commenced on 1 July 2013, with a rolling program of upgrade projects up and down the highway, to be completed by June 2028.
Gold Coast Light Rail (Stage 3A) – $709.9 million
Gold Coast Light Rail (GCLR) has transformed public transport on the Gold Coast, helping create an integrated multi-modal network that connects more people to more places in one of Australia’s most dynamic and fastest-growing cities. As of the 2018-19 financial year, public transport patronage on the Gold Coast has grown 47% since the introduction of light rail services in July 2014.
In November 2019 it was announced the $709 million Stage 3 extension to Burleigh Heads would be delivered with commitments of $269 million from the Australian Government and $91.5 million from the City of Gold Coast, with the balance of funds committed by the Queensland Government. GCLR Stage 3A involves a 6.7km extension of the light rail system from Broadbeach South to Burleigh Heads, including eight new stations and the procurement of additional light rail vehicles (LRVs).
Construction of Stage 3 is set to support more than 760 jobs and will help the Gold Coast manage expected population growth in coming decades.
Grace by Mosaic is steps to the planned Burleigh Heads Light Rail station, set to transform Second Avenue into a cul-de-sac.
Beerburrum and Nambour North Coast Rail Line – $550.8 million
The Beerburrum to Nambour Rail Upgrade (B2N) project covers about 40km of the North Coast Line and will provide additional track capacity and reliability, creating travel time savings and increased passenger and freight services to the growing Sunshine Coast region.
The full scope of the business case for B2N includes duplication of the North Coast Line between Beerburrum and Landsborough stations (around 20km in length) as well as station upgrades, new park ‘n’ ride facilities, and new rail passing loops between Landsborough and Nambour. The project will be delivered in stages.
Infrastructure Investment
South Bank Performing Arts Venue – $175 million
In May 2018, the Queensland Government announced it would invest in the delivery of a new $150 million theatre on the Playhouse Green site co-located with and operated by QPAC.
Construction of the new theatre for Queensland has begun and when completed will deliver a minimum 1500-capacity state-of-the-art theatre for Queensland.
The theatre will be transformational, creating the largest performing arts centre in Australia, with five outstanding venues, and when fully operational has the potential to welcome an additional 300,000 visitors per year.
Brisbane Ballymore Precinct – $15 million
The National Rugby Training Centre will be the new national headquarters for women’s rugby, including the national Buildcorp Wallaroos side, as well as a reinvigorated training base for the St.George Queensland Reds men’s and women’s sides and other Queensland programs.
The stunning $30 million high-performance centre will include a new McLean Stand and become the centrepiece of a redevelopment of Ballymore as an elite sports precinct. The new McLean Stand will retain its name, which honours the contribution of the McLean family to Queensland Rugby.
Sunshine Coast Stadium – $20 million
The Sunshine Coast Council has approved a concept design for an initial $68 million expansion to the Sunshine Coast Stadium, which would increase fixed seating capacity from 1,046 to 11,618 seats and better cater for our community attending the plethora of events now being hosted at the venue.
The initial expansion will boost the overall venue capacity from 12,000 to 16,618 in stage one, with a new eastern grandstand (8,085 seats) and an expanded western grandstand (increased to 3,533 seats).
Gabba Stadium – $35 million
A $35 million upgrade of The Gabba is underway, with works to modernised the Brisbane stadium and improve the match-day atmosphere and experience for fans.
The upgrade includes enhancements to entries and ticketing areas, public concourses, food and beverage outlets, bar and entertainment spaces, improved signage and wayfinding, and upgraded media and corporate spaces.
Along with strong employment and population growth, record low-interest rates, a declining apartment supply, these are the perfect conditions to maximise the ‘effortless advantage’ in residential property investment across South East Queensland.
Now is an incredible time to invest in South East Queensland, secure your opportunity before it’s too late.