This article is from the Australian Property Journal archive
DEVELOPER Springfield Land Corporation has launched a global expressions of interest, seeking development and capital partners to deliver a major medium density apartment project in Brisbane’s south-west, worth in excess of $6 billion.
The City Centre North apartment project will comprise approximately 10,000 apartments as well as commercial and retail space, to be developed over the next 15 years at Greater Springfield.
Greater Springfield has a total land area of 2,860ha (7,067 acres) and is located approximately 30 minutes south-west of the Brisbane CBD and 50 minutes from the Gold Coast.
Greater Springfield is one of Australia’s fastest emerging new cities with a current population of approximately 32,000 people, which is expected to grow to 86,000 residents by 2030. $12 billion has been invested in Greater Springfield so far with total investment on completion expected to be in excess of $85 billion.
“The City Centre North apartment project represents an exciting next step in the evolution of Greater Springfield, as an alternative to the Brisbane CBD, providing greater housing and work choices to the diverse mix of Greater Springfield residents across age cohorts and market segments,” Springfield Land Corporation chairman Maha Sinnathamby said.
“It also represents an opportunity for another visionary group to join existing major stakeholders who have been active in the development and commercialisation of Greater Springfield, including the Australian federal government, Queensland state government, Lendlease, Mirvac, Aveo, Wesfarmers, Woolworths and GE,” he added.
Springfield Land Corporation has appointed UBS to run the formal process.
UBS managing director and head of real estate, Australasia, Tim Church, said the City Centre North apartment project provides a truly unique development opportunity for a leading developer or consortium to control a major apartment project in the centre of one of Australia’s fastest emerging new cities.
Australian Property Journal
