Brisbane’s Transformative Infrastructure Investment
“With the infrastructure pipeline in Brisbane and the broader region exceeding $70 billion, there has been no better time to invest in the River City.”
David Moore
Brisbane is enjoying unprecedented infrastructure investment which is transforming the city. Apart from further enhancing the River City lifestyle, the massive public and private sector spending will directly feed into surrounding property prices, as it always does.
Highlighted below are Brisbane’s most significant projects:
1. Cross River Rail – at $6.8 billion, this is Queensland’s largest infrastructure project to date. Cross River Rail is a 10.2km rail line from Dutton Park to Bowen Hills, which includes 5.9 kilometres of twin tunnels under the Brisbane River and Brisbane CBD. The project includes the construction of four new underground stations and will deliver upgrades to eight above-ground stations. It will unlock a bottleneck at the core of Brisbane’s transport network. Completion due 2024.
2. Brisbane Metro – at $1.25 billion, this will be a key part of Brisbane’s greater transport network connecting the city to the suburbs. New high-capacity and high-frequency Metro services will run along dedicated busways and link with suburban bus and train services as part of a better-planned network. The 60 new electric buses and upgraded infrastructure will reduce travel times and congestion and complement Cross River Rail.
3. Queen’s Wharf – this is a $3.6 billion integrated casino resort precinct that includes 50 new bars, cafes and restaurants, a public Skydeck known as the arc which straddles four buildings, and refurbishments to the North Bank of the river. The project also involves the transformation of the current heritage treasury building into a retail centre and a new pedestrian bridge that links to South Bank. It will be a magnet for foreign and domestic visitors.
4. Brisbane Live – this $2.0 billion precinct development is located at Roma St, a key CBD transit hub. A new 18,000 seat sport and entertainment arena will be constructed, serviced by underground rail and busway infrastructure as well as ground-level train connections to the existing network. It will be Brisbane’s new “Grand Central”.
5. Woolloongabba Station Precinct – this precinct 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 stadiums. With South East Queensland poised to be announced as hosts of the 2032 Olympics, there are plans to re-build the Gabba stadium at a cost of $1 billion.
6. Victoria Park Vision – this will transform the Victoria Park Golf Course into a large parkland. Planned by the Brisbane City Council, the parkland will be double the size of the City Botanical Gardens and feature suspended canopy walks, kayak and swimming lagoons, wetlands, a walk-through butterfly house, produce garden, dog water parks, fountains, and waterfalls.
7. Green Bridges – planning is at an advanced stage for 4 new green bridges across Brisbane to make it easier to get around on foot or bike, creating more travel options and less road congestion. The new bridges will link Kangaroo Point to the CBD, Toowong to West End, St Lucia to West End, as well as a new crossing at Breakfast Creek.
8. New Brisbane Airport Runway and Terminal – at a cost of $1.1 billion and completed last year, this project has given Brisbane the best runway system in the country. By effectively doubling capacity, it will enable continued growth and reinforce Brisbane’s position as an important gateway to the rest of Queensland and Australia. Brisbane Airport Corporation has since unveiled plans to build a $1 billion third terminal that will connect its dual runways.
9. Brisbane International Cruise Ship Terminal – completed last year at a cost of $177m, the new terminal at Port of Brisbane has the capacity to cater to the largest cruise ships in the world, attracting more visitors and tourism dollars.
10. City Reach Masterplan – this is a 1.2-kilometre waterfront promenade upgrade along the CBD’s eastern waterfront. Proposed by the Brisbane City Council, the draft plan promotes more green space and trees, public art, and decorative lighting. It will also highlight heritage features and increase the width of the promenade.
11. Brisbane Waterfront – in a similar location to the City Reach Masterplan, Dexus has unveiled plans for a $2.1 billion redevelopment of the 31-year-old Eagle Street Pier, incorporating two new towers, riverfront dining, retail outlets and public plazas.
12. New Performing Arts Venue – this is a new world-class 1,500 seat theatre facility that is being built as part of the Queensland Performing Arts Centre (QPAC). Once completed, QPAC will become the largest performing arts centre in Australia and is expected to deliver capacity for an extra 260 performances annually.
It’s an exciting time to live in Brisbane, especially with the prospect of hosting the Olympics in 2032.
It’s also an exciting time to own property in Brisbane. Transformational, city-shaping projects inevitably feed into higher property prices. Quite simply, property owners benefit from the injection of other people’s money. This is the effortless advantage that property owners enjoy.
With such enormous sums of money being poured into the city of Brisbane, there has been no better time to invest. Things are just starting to heat up.
Get in touch to discuss how you can best take advantage of the Brisbane boom.