This article is from the Australian Property Journal archive
HINDMARSH and the Queensland Cricketers’ Club (QCC) have teamed up to develop a new $125 million mixed-use project directly opposite The Gabba stadium.
After amalgamating two neighbouring sites, Hindmarsh has entered into a joint venture with QCC to submit a development application next month for the Kangaroo Point development.
The development will include a retail and commercial component as well as approximately 200 apartments across three buildings; two 15 storeys in height and the other eight storeys in height.
Hindmarsh NSW/QLD state manager of development Steve Laffey said earlier this year the company struck a partnership with QCC with a view to developing 492 Vulture St in Kangaroo Point. However the recently finalised acquisition of a neighbouring property paves the way for the joint venture to deliver a larger mixed-use development.
“We’re proud to partner with QCC for this important development, which will bring a new level of excitement to an area already buzzing with atmosphere, while breathing new life into a site in need of rejuvenation.
“Kangaroo Point enjoys close proximity to Brisbane’s most renowned and popular spots, including the CBD, Fortitude Valley, Woolloongabba, South Brisbane, the South Bank Parklands and of course, a global icon in The Gabba,” Laffey said.
The combined 3,500 sqm site is just 1.5 km south-east of the Brisbane CBD in the established inner-city suburb of Kangaroo Point.
QCC CEO Lachlan Furnell said the development confirms the vision that former club board members and management had in purchasing the 492 Vulture St block some years ago.
“Members of the club will enjoy the benefit of undercover car parking in one of Brisbane’s most prestigious developments. We are delighted to be partnering with Hindmarsh on this project; the cutting edge development design will complement the city’s master plan for the Woolloongabba precinct,” Furnell said.
Pending approval, the development is expected to take approximately 24 months to complete.
Australian Property Journal
