PROPERTY veteran Norm Rix expects the welcome mat to be out in January for the first customers to his biggest venture in a 60-year career, the $100 million Pimpama City shopping centre.
The developer yesterday said that he was determined to make the district centre “something really special” but that it would not be his swan song.
“I know I’m running out of time at 82 so it’s full steam ahead with Pimpama City,” he said.
“I’m sure other opportunities will come along and I won’t be able to say ‘no’.”
Final planning approvals for the 18,000sq m Pimpama City were gained last week.
The centre is to be anchored by blue-chip majors Coles, Aldi and Best and Less.
It is in the heart of a suburb named by the Housing Industry Association as the nation’s No. 1 residential hotspot — its population grew 35 per cent in 2015-16.
Mr Rix said this growth would ensure Pimpama City would “buzz”.
“It will be a beehive for not just Pimpama but for Jacobs Well and indeed Ormeau,” he said.
Pimpama City’s first two stages are under way on the 16ha balance of a larger site assembled since 2010 through purchases from Mirvac, the Main Roads Department, the city council, and a mortgagee to developer Mike Moorhead.
Some of the ex-Moorhead today is home to Kings College, which is poised to name a community hall after Mr Rix.
Stage one of Pimpama City will consist of a Coles Express service station, a Zarraffa’s coffee outlet, Subway and other food outlets, a Pitstop convenience centre, laundromat, six-bay car and boat wash, and three dog-wash facilities.
The second stage, apart from the majors, will include 26 speciality stores, a Chemist Warehouse, KFC, Hungry Jack’s, National Australia Bank, Jetts gymnasium, a medical centre, and parking for 700 vehicles.
The 1810sq m Aldi outlet will be a new format one that will include fresh food and produce.
Mr Rix said he expected the second stage to be open by September next year.
He said he was still finalising plans for the 7ha balance of the Pimpama City site, with options including bulk-goods outlets, quasi-government tenants, a private hospital, and a retirement home.
The developer’s first retail foray was the Ashmore City centre, which he sold for $30.7 million in 1998.
He subsequently has built three Pitstop strip centres and four years ago completed the $70 million Coomera Grand at Upper Coomera.
Originally Published: www.goldcoastbulletin.com.au
Queensland’s $46 Billion Infrastructure Boom
The Palaszczuk Government has released an update to its 2018 State Infrastructure Plan as it aims to roll-out a total of $45.8 billion worth of infrastructure over the next four years.
The second part of its State Infrastructure Plan (SIP) focuses on a range of infrastructure spending with its updated release, outlining the $11.6 billion of infrastructure investment to be rolled out in 2018-19, which aims to support up to 38,000 jobs.
Economic forecaster Deloitte Access Economics said that the outlook for engineering construction in Queensland is better than it has been for some time.
“Rather than wallowing in cash from a strong property market and asset privatisations as NSW and Victoria are, the Government is relying more heavily on raising new tax revenue and increasing debt to fund this infrastructure,” Deloitte’s quarterly Business Outlook report said.
Up to 65 per cent of the Queensland’s infrastructure budget is allocated outside of the greater Brisbane area, explained Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick.
“Programs like the Queensland Transport Roads and Investment Program 2018-19 to 2021-22 outlines $21.7 billion in transport and road infrastructure over the next four years, estimated to support an average of 19,200 direct jobs over the life of the program.
The $5.4 billion Cross River Rail project, the biggest state funded infrastructure commitment in more than a decade, will be delivered in partnership with the private sector, explains Dick.
Infrastructure Association of Queensland chief executive Steve Abson said the infrastructure investment strategies update provides the private sector with confidence to invest in their Queensland operations.
With it now required to be “actioned collaboratively by all levels of government and the private sector”.
Seven new projects have been added to the Building Queensland (BQ) infrastructure pipeline, including upgrades to the centenary motorway and Sunshine Motorway, and a third track to be added to the Gold Coast rail line between Kuraby and Beenleigh.
BQ Infrastructure Pipeline Report which presents priority infrastructure proposals under development by the Queensland government, shows 18 proposals from the pipeline has received funding commitments from state government since June 2016.
These include upgrades to the M1 from Eight Mile Plains to Daisy Hill, and Varsity Lakes to Tugan, the Beerburrum to Nambour Rail Upgrade, the Lower Fitzroy River Infrastructure Project and the New Performing Arts Venue.
A rise in interstate migration is seeing more people moving to Queensland, according to the Deloitte’s Business Outlook report, which says the sunshine state now has the third-fastest rate of population growth behind Victoria and the ACT.
The report said that Queensland is “well and truly” through the worst of its mining construction downturn as eye-watering house prices south of the border are sending more “economic refugees north to Queensland”.
Gold Coast Theme Park Gets Green Light from Beijing
Songcheng submitted a development application to the Gold Coast City Council last July for the theme park to be built on former farmland at Nerang.
Australian Legends World would include a number of animal exhibits, an indoor ski field, a 3,500-seat theatre and an adventure park. Plans also include accommodation and a high-rise tower.
The Chinese government has listed the proposed development at number 11 out of 40 projects around the world affiliated with the country’s “One Belt, One Road” investment plan, assessed as top priorities for the Ministry of Culture.
The One Belt, One Road initiative is a foreign policy and economic strategy of the Peoples Republic of China emphasising numerous key areas of cooperation. Australia is not a signatory to the broad initiative, but individual projects are allowed to sign up regardless.
The listing of the proposed Australian Legends World park signals that the proposal abides by the Chinese government’s new investment rules.
Beijing has imposed restrictions across the board in an effort to curb capital outflows from the country amid concern about the leveraging of certain companies like Dalian Wanda that have been forced to sell assets to maintain liquidity levels.
“We’re delighted the Chinese Government has included this project on their Belt and Road list,” Gold Coast Mayor Tom Tate told the Gold Coast Bulletin.
“Our city’s relationship with China is built on trust as well as council’s ability to minimise red tape, while still ensuring all environmental and development guidelines are adhered to. The project will still require all relevant approvals.”
Last month, nearly 400 objections had been lodged against the plan following the public comment period as part of the application process.
Concerns include the impact of the park on the residential amenity, increased density from high-rises and an expected increase in traffic.
The Gold Coast Council will vote on whether the project will proceed later this year.
Songcheng has a market capitalisation of US$4.7 billion and operates theme parks and resorts, as well as performance art shows. The Gold Coast project would be the company’s first outside of China.
Originally Published: theurbandeveloper.com
Queensland Government Promises Three New Gold Coast Train Stations
The Palaszczuk Labor government is promising to deliver three new rail stations for the Gold Coast in an effort to alleviate congestion on the Pacific Motorway as part of its election campaign.
The new stations will be located at Pimpama, Helensvale North and Worongary-Merrimac, as part of the Cross River Rail project.
The stations would only be built if the $5.4 billion Cross River Rail project was to proceed, and would be delivered after Cross River Rail was completed, meaning the stations would not be built until 2023.
“The three new stations will mean more Gold Coast residents can benefit from the 3150 extra peak-hour seats on the Gold Coast line under Cross River Rail, helping to take pressure off the M1 as well,” Palaszczuk said.
Each station would be expected to cost up to $40 million each but it was unclear how they would be funded up to 2023.
Labor to this point in time has said it has budgeted $3 million in the next financial year for design and planning and $25 million in the 2021 financial year.
Construction work on the stations would be expected to start in 2021.
“If the Palaszczuk Labor government is re-elected, Cross River Rail and these three stations will happen,” Deputy Premier Jackie Trad said on the Gold Coast for the announcement.
Originally Published: www.theurbandeveloper.com
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