Consolidated Properties Group has commenced the retail component at its $850 million Yeerongpilly Green development in south Brisbane.
The first stage of the planned $250 million shopping hub at the heart of the urban renewal project is now under way with a $10 million restoration program for two heritage-listed properties, The Institute and The Stables.
Woolworths has also been announced as the anchor tenant for the 5,000sq m retail district and will create close to 100 new jobs once completed.
The Yeerongpilly Green development will comprise more than 5,000sq m of retail, commercial buildings, five hectares of parkland, a 103-room boutique hotel, country club, and 1,200 dwellings for 3,000 new residents.
Following the restoration, The Stables building will serve as an
"experience centre", incorporating a new Yeerongpilly Green sales and display suite.
“The $5 million building will be completed mid-2019 and will be used as an experience centre incorporating a sales and display suite ready for our sales launch on 3 August at which our first 91 apartments and 10 townhomes will be formally released,” Consolidated Properties chairman Don O'Rorke said.
Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick said the recent completion of more than five hectares of parklands, new pedestrian-friendly pathways and new roads at Yeerongpilly Green had put the development on show to the public.
“Around 90,000 people recently attended the Brisbane International tennis tournament and I’m sure they would have been delighted with the progress and change this urban renewal project has brought to the area,” Dick said.
“With new parklands, new pedestrian-friendly pathways and new roads complete, Yeerongpilly Green is already putting on a show, and this highly-anticipated retail precinct with the new Woolworths will form the heart of the project and provide the shopping experience an urban renewal project of this scale merits.”
Around 50 or so buildings once stood on the 14 hectare site which runs along the Brisbane River between the Queensland Tennis Centre and Yeerongpilly Railway Station, with only a few heritage buildings still remaining which will be incorporated into the project.
Construction for the entire project is anticipated to take over 10 years and will generate around 6,600 construction jobs with The Palaszczuk Government committing $30 million towards the creation of parks, plazas and infrastructure at Yeerongpilly Green.