Blog

December 11, 2017

Top 10 News Stories 2017

The first half of 2017 saw massive growth in and around Brisbane, and the second half, although not entirely over yet, has had some very bignews within the market. Here are 10 of the biggest news stories we’ve followed in the second half of the year:

  1. The new McDonald’s store in the Queen Street Mall opened in October in the 1000sq m space that was home Jo-Jo’s restaurant on the corner of Albert St, making it the largest McDonald’s restaurant in Australia, while creating the largest leasing deal of its kind in the Brisbane CBD.
  2. Mirvac lodged an application for two new residential towers located at 60 Skyring Terrace in Newstead., the proposed two stage development known as 'Shore' will comprise of a 26 and 22 storey tower
  3. Queensland’s first engineered timber office building from Lendlease, named ‘5 King’, has been acquired in the $2.9 billion Brisbane Showgrounds redevelopment, and will be the tallest engineered timber building in Australia.
  4. The approval of Sekisui House’s $800 million West Village development in West End has been received. The new design will double the amount of urban parkland around the old Peters Ice Cream factory warehouse building.
  5. Destination Brisbane Consortium has announced Probuild as the successful tenderer for the Queen’s Wharf Brisbane integrated resort development excavation works package. It will be the largest city-based excavation project to occur in Queensland.
  6. Work has commenced on the New 9,260m² Large Format Retail Centre for Skygate at Brisbane Airport.
  7. In the first half of this year, Chinese investment in Australian real estate fell 69 per cent, due to new restrictions put in place by the Chinese government for investors. Despite lower Chinese investment, Australian commercial real estate investment forecast is around $30 billion for the year, thanks to a massive rise in Singaporean investment.
  8. AMP Capital is looking to purchase a $1 billion stake in the Indooroopilly Shopping Centre. The groupis believed to buy the CSC half stake, marking one of Australia’s biggest shopping centre deals this year.
  9. Brisbane will get a new $40m live music venue in Fortitude Valley’s Brunswick St Mall with space for up to 3,300 people.
  10. Local and international lenders are backing the growth of the student accommodation facilities around Australia with multiple new developments in Toowong, Southbank and Woolloongabba.