The Infrastructure Pipeline in SEQ Will Drive Property Growth
Follow the infrastructure is an oft-quoted phrase in real estate investing – for a good reason because price growth usually follows wherever infrastructure is being built.
South East Queensland is one region in which there is an ongoing slew of new infrastructure projects in the pipeline, including those announced for the 2032 Olympic Games. All these projects will have a transformational effect on the region. They will attract new workers, visitors and residents as our cities, including Brisbane and the Sunshine Coast, evolve into more mature and sought-after hubs with sophisticated transport, entertainment, employment and tourism offerings. These people will all need somewhere to live, and as demand for housing in the region rises, but supply remains constrained, rents and prices will increase.
The Olympics is driving a lot of the infrastructure projects in SEQ. Recently, it was announced that the Federal and Queensland State Governments had officially signed the $7 billion funding deal for the 2032 Brisbane Olympics to fund significant venues.
This includes a $2.7 billion rebuild of the Gabba Stadium in Brisbane’s Woolloongabba, which will have 50,000 seats and confirmation that the $2.5 billion Brisbane Live Arena will go ahead over Roma Street Station.
Brisbane Live will have 17,000 seats, host a drop-in swimming pool for the Olympic Games, and be converted into a live music venue afterwards.
The Gabba rebuild and Brisbane Live are expected to be completed by 2030. Another $2 billion will be spent upgrading existing venues and building smaller facilities.
Brisbane will have 22 Olympic venues, while the Sunshine Coast will have four, including a new 6000-seat Sunshine Coast Indoor Sports Centre and an expanded 20,000-capacity Sunshine Coast Stadium within a sports precinct at Kawana. Construction of both is expected to be completed by 2027.
An athlete’s village will be delivered as part of the already-planned Maroochydore City Centre. While the Brisbane Olympics is all the buzz, and its related infrastructure will benefit SEQ well beyond 2032,the real story is more about the constant stream of infrastructure projects planned and underway in Brisbane and the Sunshine Coast that will see these cities transform.
Infrastructure projects in Brisbane
On top of recently completed projects, including the new Brisbane airport runway and the Howard Smith Wharves redevelopment, a riverside entertainment and leisure precinct near the Story Bridge, there are billions of dollars in projects to come for Brisbane.
Major projects include:
Gabba redevelopment
The $2.7 billion rebuild of the Gabba stadium is one of the most well-known projects associated with the Olympics. Still, the reality is that the whole area around the Gabba leading into South Bank has been declared a Priority Development area, which will lead to
broader urban renewal. One of the most significant projects will be the new station being built for the suburb of Woolloongabba as part of the Cross River Rail project.
Cross River Rail
This $5.4b project, consisting of a new 10.2 kilometre rail line from Dutton Park to Bowen Hills, includes 5.9 kilometres of twin tunnels under the Brisbane River and CBD, is underway. Four new stations will be built at Albert St, Boggo Rd, Wooloongabba and Roma St, plus upgrades to existing rail stations, including Exhibition Station in Herston. It is expected to open in 2025.
Brisbane Metro
This $1.2 billion new electric busway system will cover 21 kilometres and include 18 stations., with two lines running from Eight Mile Plains to Roma Street and Royal Brisbane and Women’s Hospital in Herston to the University of Queensland in St Lucia. It will significantly improve and fasten public transport with its service frequency. It is expected to start operating at the end of 2024. The route may be extended in the future.
Queens Wharf
Construction on this $3.6 billion integrated resort development is underway. It will cover a 26-hectare site and will have four luxury hotels, apartments, restaurants, bars, cafes and a casino, along with public space the size of 12 football fields. It is expected to open at the end of this year.
Waterfront Brisbane
The $2.5 billion project will see Brisbane’s Eagle Street Pier precinct redeveloped with two new mixed-use towers, 7,900 sq m of open space, and upgraded Riverwalk and wharf
A new $150 million theatre will be built at QPAC. It is expected to open in 2024.
Transport infrastructure
Several green bridges will be built between Kangaroo Point and the CBD, Breakfast Creek and from Toowong to West End and St Lucia to West End. New ferry terminals are set to be completed this year, including at Kangaroo Point and East Brisbane.
Road projects include the planned Coomera Connector (also known as the Second M1), with the $14.5 billion Inland Rail from Melbourne to Brisbane underway.
Infrastructure projects on the Sunshine Coast
Much infrastructure has already been delivered on the Sunshine Coast, including the Sunshine Coast Airport expansion, the Sunshine Coast Health Precinct at Birtinya, the Sunshine Coast University Hospital, and the redevelopment of Sunshine Plaza in Maroochydore.
In addition to the upcoming Olympic projects outlined above, the Sunshine Coast has plenty in the pipeline for the future.
Maroochydore City Centre
This 20-year $2.5 billion master-planned project will be developed over a 53-hectare site. It will create a new, more sophisticated CBD for the Sunshine Coast. In addition to nearly 18
hectares of parklands and waterways will have a mix of commercial, retail, residential and dining precincts. Walker Corporation has now come on board as a partner in the project, which should see a dramatic increase in progress.
Transport infrastructure
This includes the $550.8 million Beerburrum to Nambour rail project, including a 40km upgrade and duplication. Stage 1 has started and is expected to be completed by 2025.
A proposed railway route called the Direct Sunshine Coast Line would run between Beerwah and Maroochydore.
Plans are underway for a Mass Transit solution to run from Caloundra to Maroochydore Town Centre via Sunshine Coast University Hospital in Birtinya.
A $1.6 billion expansion and upgrade of the Bruce Highway is also underway, with Stage 1 complete.
The Mooloolah River interchange, which will improve the transport network, is also in the pipeline, with stage 1 providing a new road overpass for a more direct and efficient connection from Nicklin Way to Brisbane Road at Mooloolaba as well as a new local
road connection between Karawatha Drive at Mountain Creek and Brisbane Road at Mooloolaba.
Mixed-use developments
Several projects are planned or underway with residential and commercial/retail components.
These include the $7 billion Aura master planned community on 2.310 hectares at Caloundra South that will be home to an estimated 50,000 residents.
The $4 billion Harmony estate at Palmview is also in the pipeline, which will be home to 16,000 residents with 7000 houses on completion, expected around 2036.
Beerwah East is an Identified Growth Area (IGA) covering 5,200 hectares between the Bruce Highway, Steve Irwin Way and Roys Road. It is forecast to provide 7000 homes by 2041 to cater for 50,000 residents.
