An approved residential development site in a prime position on the fringe of the rapidly growing Ipswich CBD is being
offered for sale by Ray White Special Projects (Qld).
The approximately 4857 sqm site on five titles at 28-30 Lowry Street, 45-47 Flint St and 12 Pelican St, North Ipswich, is being marketed via Expressions of Interest by Ray White Special Projects Qld Directors Mark Creevey and Tony Williams.
Mr Creevey said the site just 800m from the Ipswich CBD and Ipswich Railway Station has a development permit from Ipswich City Council for 104 apartments in two stages.
“The proposed apartments will be located 500m from the Riverlink Regional Shopping Centre and the offering will include 82 x 2 bedroom apartments and 22 x 1 bedroom apartments,” he said.
“The development is close to a wide range of amenities and services. It’s expected that there will be a limited future supply of competing stock near this project.”
Mr Creevey said the Ipswich region was benefitting from significant investment in infrastructure and strong economic and employment growth.
“Ipswich is expected to reach 200,000 people in 2017 and more than double that population within the next 20 years to reach 485,000 by 2036,” he said.
“The South-East Queensland Regional Plan 2009 identifies the city centre of Ipswich as the principal administrative, cultural and community centre for Ipswich and surrounding areas. The area is being redeveloped to act as the main retail and commercial centre for Ipswich.”
Mr Williams said a massive infrastructure investment program was opening access to and around the Ipswich CBD and generating significant economic benefits translating into demand for new dwellings.
“It’s estimated that by 2031 approximately 118,000 additional dwellings will be needed to accommodate Ipswich’s expected regional growth, population increase and demographic change,” he said.
“With a range of residential opportunities available, Ipswich could exceed both the projected total and infill targets of the SEQ Regional Plan 1.
“Importantly, other locations accessible from existing and proposed public transit networks, such as North Ipswich, have also been identified as suitable for catering to the housing needs of the city’s rapidly expanding population base.
“There is also evidence emerging for demand for multi-unit dwellings in appropriate inner urban locations within Ipswich.”
Mr Williams said Ipswich has a vast range of significant employment areas located at Ebenezer-Willowbank, Swanbank, New Chum, Bundamba, Wulkuraka industrial area, Carole Park, the Ipswich CBD, the RAAF Base Amberley and the Amberley Aerospace and Defence Support Centre.
“This will ensure a high level of self-containment and contribute significantly to regional employment growth,” he said.
There are currently 7,946 businesses in Ipswich employing more than 67,927 persons.
“By 2021 this figure is projected to increase by more than 8,035 to reach a workforce of 75,962,” Mr Williams said.
“Over the following five-year period (2021 to 2026) the city is projected to see its workforce sit at 86,900 representing a further expansion of 10,938. In total, over the 10-years to 2026, Ipswich’s workforce is expected to increase by almost 19,000 workers representing an average annual increase of 1,900 per annum."Expressions of Interest close at 4pm (AEST) on Thursday, March 9, 2017.
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