2019 is shaping up to be one of the River City’s best years ever in terms of Queensland’s metropolitan hub stepping onto the international stage as Australia’s next ‘world city’. From new builds to exciting renovations, a number of Brisbane infrastructure developments are also set to enhance Brisbane as an investment opportunity now and into the future. Here our top picks.
Fortitude Music Hall
This long-awaited new music venue which will be located in Fortitude Valley’s Brunswick Mall is the brainchild of former Powderfinger bassist and Triffid owner, John Collins, and Australian music entrepreneur, Paul Pittico. Touted as the new Festival Hall, the Fortitude Music Hall will cater for smaller more intimate events and also big name acts, dance festivals and future ARIA awards ceremonies with the flexibility of its 3300-seat capacity.
With the roof set to be added this month, the venue is expected to open in around July this year.
The Brisbane Metro Subway System development is well underway, with the system set to see reliable high-frequency transport throughout the CBD and inner suburbs in the coming years. With an aim to cut travel times, reduce CBD congestion and the ability to better direct public transport, the Metro will be able to carry up to 30,000 passengers per hour.
In September last year, the Brisbane City Council announced the outcomes of the Brisbane Metro Draft Design Report following a review of the feedback received, and a fly-through animation has been developed which shows the revised design for the Victoria Bridge. Council will also be hosting community information pop-up events at a range of venues across the city in the lead-up to the launch.
Brisbane Mega-Cruise Terminal
In November last year the government unveiled a fly-through animation of Queensland’s first dedicated mega-cruise ship terminal which will be known as the ‘Brisbane International Cruise Terminal’. The $158 million project at the Port of Brisbane will put the city on the world map as a mega-cruise ship destination and provide a dedicated facility to accommodate larger ships that aren’t logistically able to dock at Portside. The project is also expected to generate over 240 jobs and around $5 billion in economic value to Queensland over the next 15 years.
The launch of the visuals of the new terminal is the first stage of the project, which is set to open in 2020.
Cross River Rail
Another key Brisbane infrastructure project is the Cross River Rail, which will be a 10.2km rail line that will feature a 5.9km twin tunnel under the CBD and the Brisbane River. It will be used by more than 230,000 commuters every week and tunnel digging is set to commence this year. The project is expected to be completed by 2024.
The Brisbane Transit Centre will also be demolished to make way for the project’s new underground Roma Street Station and the proposed ‘Brisbane Live’ development within the Roma Street precinct which will feature an 18,000-seat world-class arena that can host major live concerts and world-class sporting events right in the heart of the city.
The Business Case for this market-led proposal is currently underway.
Brisbane Airport Redevelopment
The Brisbane Airport Redevelopment with its New Parallel Runway Project (NPR) is set to be one of the biggest aviation projects in Australia. The project will see a 3.3-kilometre-long runway pavement being constructed and it is recognised as a key driver in the long-term growth of Brisbane by creating jobs, opportunities for new destinations and a greater choice of airlines. The project will also contribute an additional $5 billion in annual economic benefit to the region.
The major stages of construction are now in progress and it is on track to open in 2020.
Sky Tower Development
Soaring to 90 storeys above the heart of the Brisbane CBD, the Skytower Development will be Brisbane’s tallest tower and Australia’s single largest residential building. With over 1141 rooms, the building will feature a number of separate residences, each with their own independent lift, lobby and a recreational deck with a pool, gym, steam room and BBQ areas. The residents of ‘Skycity’ and the penthouses will also have the luxury of exclusive access to the world’s highest infinity edge pool located on the rooftop.
Constructing the tower in three discrete components provided the opportunity for some residents to settle in to a completed section in 2017, and the final sections of the tower are set to be completed later this year.
Westin Brisbane Hotel
The $200 million Westin Brisbane opened its doors in November last year as part of mixed-use development Mary Lane in the city’s CBD. The hotel is the first for the Westin brand in Queensland, and features include a dedicated two-floor wellness centre, two signature restaurants and Brisbane’s only swim-up bar.
The hotel also boasts more than 930 square metres of world-class conference and event space, equipped with cutting edge technology and a ballroom, pre-function area and a restaurant.
With so many infrastructure developments on the go and more in the planning stage, there is no doubt the River City is continuing to grow and expand. Now is the ideal time for those looking to invest in Brisbane inner-city property, so contact our team to learn more!
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Disclaimer: Please note that the information provided is general information only and should not be relied upon as legal advice, as individual circumstances may differ.