Source: Courier Mail, 13th October
The strategy aims to see billions of private and government dollars invested in real estate and infrastructure around suburbs that have established education, industry, tourism, or creative bases.
Five billion dollars is earmarked to go towards medical facilities around the Boggo Rd area, with at least another $5 billion investment proposed for the maligned Kurilpa peninsula, next to South Brisbane, to breathe new life into the industrial area.
In Eight Mile Plains, council are aiming build on advanced technology manufacturing already in the area to create a more liveable suburb with a highly educated workforce.
Ray White Eight Mile Plains agent Dianne Deem, who has lived and sold real estate in Eight Mile Plains area for 20 years, said it was already highly sought-after because of its proximity to transport, but any additional infrastructure and investment would make it even more desirable.
“Hopefully it might bring in more of the younger demographic,” she said.
Ms Deem said a lot of people who worked in the burgeoning technology park in Eight Mile Plains wanted to live close by.
“There’s still a very strong turnover in the Eight Mile Plains/Upper Mt Gravatt area,” she said.
Homeowners in suburbs like Hemmant and Wynnum West in the Australia TradeCoast precinct are also set to benefit from capital growth given the proximity to the Port of Brisbane.
James Dean Real Estate Tingalpa principal Tony Dean said Hemmant was an underrated suburb, but its potential was starting to be realised.
“It has a really nice rural village feel to it,” Mr Dean said. “It’s a family friendly area that doesn’t feel like you’re in suburbia.
“The entry level house price has gone up 10 per cent at least in the last two years.”
Mr Dean said developers had been snapping up tracts of land since part of the suburb was rezoned earlier this year.
He said the train station and proximity to the Gateway Motorway were major drawcards, but the suburb could do with more infrastructure such as a shopping centre, service station and childcare facilities.
“We’ll have the largest port in Australia in the next two to three years and people want to live near where they work,” Mr Dean said.
Lord Mayor Graham Quirk said the move was part of the strategy to cement Brisbane’s reputation as Australia’s “New World City’’.
“From lifestyle, entertainment and culture, to specialised medical research, tech-based employment and advanced manufacturing, the priority precincts each play a unique and critical role in the economic function of the city,” Cr Quirk said.
“As a key priority of the Brisbane 2022 New World City Action Plan, the Global Precincts vision is focused on developing the precincts with scalable industry activity, world-class business environments, and global reach.
“We only have to look at the success of our existing precincts like the Cultural Precinct and South Bank, or Brisbane’s inner northeast suburbs of Fortitude Valley, Teneriffe, New Farm, Newstead and Bowen Hills, which have collectively generated around $5.3 billion in private investor funding in two decades.”
BRISBANE’S ‘GLOBAL PRECINCTS’:
· Boggo Road/PA Hospital/University of Queensland
· Herston/Kelvin Grove
· Upper Mt Gravatt/Eight Mile Plains
· City Reach
· City West
· South Brisbane (including Kurilpa)
· Australia TradeCoast
· Valley Gateway
(Source: Brisbane City Council)