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New casino for Brisbane: EOI process announced

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The Queensland Government announced it will seek proposals for an integrated development of the government precinct in Brisbane’s CBD through an Expression of Interest (EOI) process.

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The redevelopment could provide new six star hotels, retail, restaurant and entertainment zones, theatre and convention facilities, new open spaces – and a new casino.

Premier Campbell Newman also announced that the State Government would consider making two other casino licences available for major integrated resort developments in other parts of Queensland.

Mr Newman said the Government had considered a range of development scenarios for the redevelopment of Brisbane’s government precinct, which “presents a once in a generation opportunity” for the city.

“Market sounding has indicated the best outcome for the precinct and for the protection of heritage sites will be achieved through an integrated development,” Newman said.

“The Government has decided that a casino licence will be offered in the EOI process to encourage the provision of a world class integrated development in Brisbane’s CBD.

“The Government believes Queensland can sustain up to three new integrated resort casinos and believes there would be strong interest in other parts of the state.”

Deputy Premier Jeff Seeney said the EOI for the government precinct redevelopment would go to the market by the end of the year.

He said such a massive project would deliver significant boosts to both the construction and tourism sectors of the state economy.

“Integrated developments including casinos have proven their ability to increase visitor numbers and stays elsewhere in the world,” Mr Seeney said.

“They are not just casinos as we have previously seen in Queensland; in fact, the casino is only part of these major developments which are tourism drawcards in their own right.

“Singapore’s foreign visitor numbers were declining in 2008 and 2009. When two integrated resorts with casinos (Marina Bay Sands and Resort World Sentosa) opened in 2010 visitor numbers rose by more than 20 per cent.

“The resorts contributed $3.7 billion to Singapore’s gross domestic product during the first nine months of operation, of which only $720 million was attributed to gaming tax.

“We believe the redevelopment of Brisbane’s government precinct could lead to similar benefits for Queensland.

“There is no doubt a project of this scope and size holds enormous potential for the development and tourism sectors, for the residents of Brisbane and visitors to the city.”

Mr Seeney said officers of his department had met with the Singaporean Government regarding the establishment of the resorts in Singapore and they would test the appetite in Asia and North America to enter the EOI for Brisbane.

A Probity Code of Practice will be established for the precinct project and an independent probity adviser will be appointed to oversee the EOI and selection process. The probity adviser appointee will be announced before the process begins.

Mr Seeney said when the EOI for the government precinct was released the government would also release a draft Queensland Casino Policy for public comment.

The policy will guide the state’s future approach to casinos and gaming.

“The policy will consider issues such as market capacity, implications of additional licences on existing and future operations, financial implications for the state, community interests and social implications,” he said.

 

Original article published at www.urbandeveloper.com  14/10/2013

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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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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