This article is from the Australian Property Journal archive
LEND Lease has been awarded a $3 billion project by the Royal National Agricultural and Industrial Association of Queensland, to redevelop Brisbane's iconic RNA Showgrounds.
The competitive bid process was between Lend Lease and Leighton Properties.
RNA chief executive Jonathan Tunny said Lend Lease did an exceptional job in understanding the requirements to successfully maintain the EkkA, which to non Brisbane residents is an annual fair show.
Tunny added that Lend Lease also delivered a new business model for event management in the future.
“As custodians of this historic precinct, the RNA has a strong vested interest in maintaining the heritage qualities for future generations,” he continued.
The 22ha site is located in Bowen Hills, just 2kms north east of Brisbane CBD.
Tunny said the development will complement, not copy, Brisbane’s other great public spaces, drawing on the history of the RNA Showgrounds and surrounding Fortitude Valley, Spring Hill, Bowen Hills and the Royal Brisbane Hospital precinct.
Lend Lease APAC chief operating officer David Hutton said the current venue which is closed for a lot of the year will become a vibrant new urban community within inner-city Brisbane for both residents and visitors to enjoy.
“The development will also provide new and improved pedestrian and bicycle connections between Bowen Hills and Fortitude Valley and the Royal Brisbane Hospital,” he said.
Stage One of the redevelopment will incorporate a major upgrade of the industrial pavilion and provision of modern animal pavilions, replacing the current obsolete facilities.
Lend Lease will also make a substantial investment in infrastructure, public domain and commercial, retail and residential uses.
Tunny said this initial phase will create an outstanding high street within the precinct, including Brisbane’s largest inner-city produce market, which aligns with the RNA’s core business and values.
“The RNA Showgrounds redevelopment will be the largest initial redevelopment project within the Urban Land Development Authority’s Bowen Hills Urban Development Area, and represents a close working relationship between ourselves and the recently formed ULDA. The RNA has also consulted extensively with key stakeholders, including Government agencies, Brisbane City Council and event organisers who utilise RNA facilities,” Tunny concluded.
The RNA will work with Lend Lease to finalise plans for submission to the ULDA to enable development to start. According to the RNA, the redevelopment would inject billions into the state economy and create approximately 2,000 jobs per annum over the 15-year development life.
Australian Property Journal
