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Brisbane property: Greenfield sites and inner city bear burden on 80 per cent of new homes

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NEW greenfield housing developments in outer suburbs and an increasingly dense inner city are carrying the burden of Brisbane’s population growth, with 80 per cent of new residences set to be built in these areas.

Aerial photos of massive masterplanned communities highlight the stunning growth rate pockets of the southeast corner have experienced over the past few years.

The demand for new housing sites, coupled with restrictions proposed in the draft South East Queensland Regional Plan, has led to an increased need to facilitate sensible growth in “middle-ring” suburbs.

Last financial year there were 30,530 new dwellings approved within the Brisbane Metro area, which includes Ipswich, Logan, Moreton Bay and Redland.

Some 15,030 of those were inner Brisbane units, 8162 were in greenfield sites outside of the Brisbane local government area and 467 were within the Brisbane LGA.

RPS discipline leader of urban design Peter Egerton said the figures were unsustainable. “The new communities within the Greater Brisbane region are doing all the heavy lifting in terms of providing diversity and affordability, with Brisbane itself relying on apartments to fill this void,” he said.

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Mr Egerton said smarter growth in middle-ring suburbs was needed to ease pressure on outer and inner areas.

“Townhouses and terrace housing are a crucial part of the housing mix for any city but these projects are mostly missing from Brisbane’s middle ring,” Mr Egerton said.

“There are a small handful of medium density developments taking place in these suburbs but we need a lot more to make our city sustainable for the future.

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“Without townhouses and terraces in these areas, homebuyers on a tight budget are forced to move further out to find a place they can afford in areas where public transport is limited, and this then creates increased traffic congestion on our arterial roads.”

Aerial photos supplied to The Courier-Mail by Nearmap show the appetite for new housing in development areas including Springfield, Yarrabilba, Jimboomba and Pimpama.

According to the draft SEQ Regional Plan, 94 per cent of the 194,000 new residential dwellings to be built in Brisbane by 2041 will need to be built in existing urban areas.

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In the Metro region (excluding Ipswich), 68 per cent of dwellings will be infill.

Mr Egerton said many middle-ring suburbs with current or future public transport links, limited character housing and larger than average lot sizes were ideal for townhouse and terrace housing.

Scott Hillier and his family have lived in a greenfield development at Brookwater, southwest of Brisbane, for the past three years.

“It’s a great lifestyle for the kids and young families,” he said. “You can head down to the lagoon and enjoy an afternoon with your neighbours.”

Originally Published: http://www.couriermail.com.au

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Developments

Boutique Development Sites in Brisbane Growth Corridor Hit the Market

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Boutique Development Sites in Brisbane Growth Corridor Hit the Market

A demand-driven market shift for affordable convenient living is expected to generate strong interest from builders and developers in two approved boutique development sites on the north side of Brisbane.

The sites occupy a prime boulevard setting across from the lake in one of Brisbane’s most successful masterplanned communities, Capestone Mango Hill, only 5 minutes to Westfield and North Lakes Town Centre.

CBRE head of metropolitan investments and development site specialist Jon Quayle is managing the sale of the “shovel ready” sites via a national expressions of interest campaign.

Zoned medium-density residential, the cleared and vacant Napier Avenue properties are 1,040sq m and 1,108sq m respectively with development and building approvals for boutique apartment developments comprising 17 predominantly 3-bedroom apartments in each.

Quayle said the Mango Hill and North Lakes region is recognised as one of Australia’s leading growth markets for population, infrastructure and employment.

“Which has contributed to a 25 per cent increase in median house prices in Mango Hill over the past 5 years,” Quayle said.

“This growth, coupled with the emergence of dedicated local industry, retail and lifestyle amenity and the soon to open nearby University of the Sunshine Coast campus, has seen a push by owners and investors for more affordable dwellings to cater for the demographic shift and second generation residents who want to stay in the region but with the benefit of affordability and convenience over a traditional house,” Quayle said.

Boutique Development Sites Brisbane Growth Corridor Hit the Market

The Capestone development sites are located within 300 metres of a future shopping village, 400 metres to a recently opened childcare centre and has easy access to 4 leading primary and secondary schools within a 1.5 kilometres radius.

Quayle said that a game changer for the success of apartments in the area was the opening of the Moreton Bay rail link, with the East Mango Hill Station only 500m away creating easy access to the new university, Brisbane CBD and beyond.

“There has been just one other apartment building delivered in the immediate area which was completed last year and is of comparable design, bulk and scale to what is proposed for the 56 & 64 Napier Avenue sites,” Quayle said.

“Individual apartments sold in that building for prices up to $462,000 including a resale late last year for more than its original purchase price.

“Evidently demand exists for new, good sized apartments in the area yet there is still a lack of this product.

“This is the opportunity that exists for a builder or developer to take advantage of by securing one or both of these rare approved medium density development sites.”

56 & 64 Napier Avenue, Mango Hill will be sold individually or as a pair with expressions of interest closing at 4pm, 2 May 2019.

Source: theurbandeveloper.com

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Developer Proposes Moreton Bay Marina Hotel and Apartment Project

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Brisbane-based developer Kindred has lodged plans with the Moreton Bay Regional Council for two 10-storey buildings along Newport’s picturesque marina.

The 11,133sq m site is owned by local business owner Joshua Kindred, who is the CEO of Kindred Group.

The proposal, to create a “world-class marina” has been lodged on behalf of Kindred by planning group Urbis.

The first of the two proposed towers will comprise a 120-room hotel and 24-serviced apartments.

The second building will be entirely residential, with 93 apartments.

Designed by Rothelowman, the Griffith Road development will deliver a 555sq m conference facility, 980sq m of retail, as well as restaurants, bars, and office and marine facilities.

“We need more places like this. We have great festivals around here yet no where for people to stay,” Ryan Elson of the Redcliffe Peninsula Chamber of Commerce said.

“We have a lot of people coming in a 10 and leaving at 4, what we would love is for them to be able to stay the night to be able to experience the Peninsula for what it is and the short term accommodation will be amazing for that.”

 

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Artistic impressions of what the Newport Marina development at 156 Griffith Road.Image: Rothelowman

The project is a record investment for a private development in Redcliffe Peninsula.

“We have more than 4 million visitors expected in the Moreton Bay region in this financial year,” Attorney General of Queensland the honorable Yvette D’Ath said.

“We don’t have enough short term accommodation or function centre space and that is what a development like this will provide.”

The development plans to create a leading education and science facility onsite, that also provides education to locals and tourist on the wonders of the bay and its inhabitants.

A 90,000L outdoor aquarium has also been proposed for the site which will double as an acoustic barrier, treating sound from the ground floor area.

An innovative bike share program for the Redcliffe Peninsula has also been sounded out as part of the development, to be set up through government agencies or a privately funded initiative.

Plans have also been sounded out for an innovative ‘shared solar car’ program within its residential offering.

Residents on site will also be able to book a shared solar car to use at their leisure.

The building heights surpass the Moreton Bay Planning Scheme where the Marine Industry precinct and surrounding buildings have a height limitation of 15 metres.

This has drawn pushback from local action groups who have voiced their concerns.

The development will now be subject to council approval.

Source:theurbandeveloper.com

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Developments

Property Group Buys Land Plots for Development in Brisbane’s North

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Property Group Buys Land Plots for Development in Brisbane’s North
Brisbane-based property group, CFMG capital has acquired two land parcels in Brisbane’s growing northern corridor to develop a 130-lot residential project.

The land parcels total 6.72-hectares at Graham Road, Morayfield, and each lot will provide a new house ranging from 300 to 687sq m. The acquisition will take CFMG’s pipeline to more than 1,000 lots across Queensland and Victoria.

CFMG managing director Scott Watson said pre-release marketing had generated strong sales enquiry from both owner -occupiers and local volume builders looking to secure land for their clients.

“The momentum of the project is expected to continue with official data indicating the demand for quality affordable projects in strong growth corridors forecast to continue,” he said.

Since 2009 Morayfield has experienced an average of 2.5 per cent population growth, higher than the state average of 1.8 per cent.

The project also benefits from close proximity parkland facilities, schools, childcare, shopping centres, specialty retailers and public transport networks.

CFMG Capital operates two core divisions: a residential communities’ development business and residential funds management business which has raised more than $90 million in third party equity.

According to the company, sales in Morayfield have already been strong with 40 pre-sales already in place and current contract exchanges totaling a sales value of $7.2 million.

In the first half of the 2017-18 financial year CFMG secured more than 200 sales across six separate projects in Queensland and Victoria.

“Through most of calendar year 2017 we saw significant spikes in both enquiry and ultimately sales, and as a result we were able to achieve incremental price growth across multiple projects without noticeable impact on sales rates,” he said.

“Particularly in the back half of 2017, there was a strong appetite for land registering in early 2018 which could attract a premium price.

CFMG recently secured a 6.8-hectare land parcel in Bridgeman Downs, 12 kilometres north of the Brisbane CBD.

Originally Published: theurbandeveloper.com

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