GFA 7700 THE BOULEVARD IM Low Res
User Manual: GFA GFA-7700
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Contents INTRODUCING THE BOULEVARD – BURANDA 5 EXECUTIVE SUMMARY 9 A CENTRAL INVESTMENT 10 A CENTRAL LOCATION 12 POSITIONED AT THE CENTRE OF MAJOR TRANSPORT LINKS 14 INFRASTRUCTURE & INVESTMENT 16 A RARE DEVELOPMENT OPPORTUNITY 18 MARKET OVERVIEW 24 SALES PROCESS 26 BRISBANE’S LARGEST MIXED-USE DEVELOPMENT OPPORTUNITY Introducing THE 255 Logan road, Buranda 255 LOGAN ROAD | BURANDA | BRISBANE | QUEENSLAND 5 MIKE WALSH Associate Director Metropolitan Investments t: + 61 7 3833 9722 m: +61 401 059 741 e: mike.walsh@cbre.com.au QUEENSLAND DARREN COLLINS Associate Director Metropolitan Investments t: +61 7 3833 9880 m: +61 404 781 787 e: darren.collins@cbre.com.au | FLINT DAVIDSON Director, Capital Markets, Institutional Investments t: + 61 7 3833 9701 m: +61 411 183 061 e: flint.davidson@cbre.com.au BRISBANE For further information please contact the exclusive CBRE marketing agents. | The project is at the centre of major transport infrastructure and service lines, with Buranda Train Station, Eastern and South Eastern busway directly bounding the site and the Pacific Motorway entrance within 500 meters. Positioned within the heart of Brisbane’s Southern Precinct, development of The Boulevard will capitalise on projected future growth in population and employment underpinned by over $30 billion in infrastructure and investment. BURANDA Under the expertise of leading developer Anthony John Group, the Boulevard at Buranda comprises almost two (2) hectares of prime inner city land which has been progressively amalgamated to create the ultimate platform with the potential to become a world class Transport Orientated Development (TOD). With planning approval and both local and State Government planning policy support, the project is ready to be commenced immediately and can be developed to incorporate a variety of uses providing up to 154,000 sqm of Gross Floor Area, with achievable building heights of up to 25 storeys. | The Boulevard represents a truly unique development opportunity which provides the perfect vehicle to capitalise on the growing economy and strong residential demand within the Brisbane market. 255 LOGAN ROAD ON BEHALF OF THE VENDOR ANTHONY JOHN GROUP, CBRE AS EXCLUSIVE AGENTS ARE PLEASED TO PRESENT THE BOULEVARD, 255 LOGAN ROAD, BURANDA TO THE MARKET. 7 executive summary SITE AREA 19,140sqm* BURANDA | BRISBANE LOCATION Linked by 3 major public transportation corridors, The Boulevard site adjoins the Buranda Railway Station and forms an interchange with major busway terminals, Buranda South East Busway Terminal, the Eastern Busway. The site provides immediate access to the major freeways connecting Brisbane with the Domestic and International Airport, Gold Coast and Sunshine Coast. | TOWN PLANNING District Centre (Corridor) Zone Eastern Corridor Neighbourhood Plan – Buranda Station Core 2A Sub 255 LOGAN ROAD ADDRESS The Boulevard, 255 Logan Road, Buranda, Brisbane | • 69,300 to 115,500sqm* of residential GFA or approximately 820 to 1,300 apartments, including hotel (45-75% of GFA); QUEENSLAND DEVELOPMENT POTENTIAL The Boulevard is a mixed-use Transit Oriented Development (TOD) project with planning approval for 154,000sqm* of GFA catering for a variety of options and uses, as summarised below: • 7,700 to 46,200sqm* of commercial office GFA (5-30% of GFA); • 7,700 to 21,500sqm* of retail GFA, including a supermarket of up to 4,500sqm* (5-14% of GFA); • A maximum of 1,750 car parking spaces; • Other uses that can be developed within the overall GFA approval but included above are childcare, gymnasium and cinema to name a few. SALES PROCESS For Sale via International Expressions of Interest closing 12pm (AEST), Thursday 30th October 2014. *approximately 9 A CENTRAL INVESTMENT BRISBANE | QUEENSLAND *approximately | POSITIONED WITHIN ONE OF AUSTRALIA’S FASTEST GROWING MARKETS Strong macro and micro economic factors have driven record levels of growth and development in Buranda and surrounding South Brisbane catchment area. According to Urbis (2014) Population and Employment growth within the surrounding area is forecast to grow at 4.2% and 3% respectively per annum. The Boulevard Transit Orientated Development (TOD) will be able to capitalise on this growth and projected demand for residential, commercial and retail product given the current limited supply and competition within the surrounding area. In addition, Buranda is underpinned by over $12 billion nearby infrastructure and investment with an additional $18 billion proposed over the next 15 years which will help drive additional growth and development. BURANDA A CENTRAL LOCATION Situated 3km* south of the Brisbane CBD on the corner of Logan Road and O’Keefe Street, the Boulevard at Buranda is centrally positioned between major public transport and vehicular networks including direct doorstep access to Buranda Train Station and South-Eastern Busway and Eastern Busway Corridor. The Boulevard is within 300 metres to the Pacific Motorway and underground Clem Jones Tunnel which connect to the Brisbane CBD, Domestic and International Airports and Gold & Sunshine Coast. The site is also directly serviced by established pedestrian and cycle ways which link to nearby parks and recreation areas. Underpinned by major transport corridors, the Boulevard offers unparalleled access to Brisbane and South-East Queensland’s major educational and health precincts and commercial and retail hubs. | PLANNING CERTAINTY AND DEVELOPMENT FLEXIBILITY At a time when mitigating planning risk and minimising time to bring product to market is paramount, The Boulevard offers preliminary planning approval for up to 154,000sqm of mixeduse GFA which streamlines the development approval process due to the code assessable nature of the approval. The GFA can be developed within a wide ranging mix of uses, which coupled with the favourable town planning parameters, provides an incoming purchaser the flexibility for multiple development possibilities to deliver product in accordance with market demand and cycles. 255 LOGAN ROAD A RARE OPPORTUNITY Seldom does an opportunity arise to acquire a 2 hectare* site within 3km* of the Brisbane CBD, particularly with such appealing development drivers which underpin the rarity of The Boulevard. The amalgamated parcel is the result of years of strategic acquisitions and planning initiatives by Anthony John Group underpinned by unparalleled public transport infrastructure. These links are fundamental to future project success to deliver a landmark Transit Orientated Development (TOD) opportunity. With no comparable development opportunity of this scale available in Brisbane, or across the eastern seaboard of Australia, an incoming developer has the opportunity to create one of Brisbane’s most strategic mixed-use projects. 11 A CENTRAL location 255 LOGAN ROAD The Boulevard is situated at the centre of major transport networks and service corridors with direct doorstep access to Buranda Train Station, South-Eastern Busway and Eastern Busway Corridor and within 500 metres of major arterial links including as the Pacific Motorway, Clem 7 Tunnel, Ipswich & Logan Roads connect The Boulevard to Brisbane’s major employment nodes, entertainment and cultural hubs, health and education precincts and domestic and international airports. | BURANDA | BROADWAY STREET EET LEONARD STREET QUEENSLAND SOUTHBANK 3KM RAN STR DA D OA N R BU S | IS ET GA L REDFERN STREET EW E TR BRISBANE Q U A LT R O U G H S T R E E T LO BRISBANE CBD 3KM DESHON STREET MAYNARD STREET TAY LO R S T R E E T SALISBURY STREET REIS STREET TOOHEY STREET C 13 LE H A R R O G AT E S T R E E T M BRISBANE 7 BRISBANE BURANDA O’KEEFE STREET JUNCTION STREET T AD PAC I F I C M OTO R WAY E CORNWELL STREET O N R E REGENT STREET GA R CARL STREET W O L E S E LY S T R E E T ROAD LO ST IPSWICH ROAD AND VE LN CLEM7 Bicycle Path O Hospital C + + PRINCESS ALEXANDRA HOSPITAL N MELBOURNE Train Station LI Bus Route LE LEGEND C SYDNEY D A O R N R A T G NE CT E E OR IN LO R C EC ES PR ST D ON IL N ST ETA LA R BURANDA EVEL OLD CL POSITIONED AT THE CENTRE OF MAJOR TRANSPORT LINKS 255 LOGAN ROAD BRISBANE CBD 3KM / 10MINS DRIVE SOUTHBANK 3KM / 10MINS DRIVE RT 16 17 13 15 20 12 21 RO ITY & BURANDA C TO | 14 P AIR | BRISBANE OAST PACIFIC M W IPS QUEENSLAND D OA R ICH | 18 OTORW AY TO GOLD C CLE VEL AND D OA NR GA LO OLD 15 ROA D Accessibility and walkability Entertainment, Shopping & Dining Hospital Transport 1 Suncorp Stadium 2 Queensland Performing Arts Centre 5KM 3 Cultural Centre and GOMA 5KM 4 The ‘Gabba’ Stadium 1KM 5 Woolloongabba Central (Coles) 6 Stones Corner Shopping & Dining Precinct 300M 7 Centro Buranda 290M 12 QUT Gardens Point 8 Howard Smith Wharves (Proposed) 4.6KM 13 Southbank Institute of TAFE 2.6KM 9 Queens Wharf Precinct 4.3KM 14 UQ St Lucia 4.3KM 10 Kurilpa Renewal Precinct 4.3KM 15 Griffith University 11 West End Dining and Café Precinct 3.8KM 5.5KM 1.4KM Buranda Train Station Buranda Busway 16 Mater Hospital 17 Lady Cilento Children’s Hospital 2.2KM (next to the Mater) 18 Princess Alexandra Hospital 19 Greenslopes Private Hospital 2KM 1KM 3.5KM Education 3KM 7KM Recreation & Green space 20 South Bank Parklands 2.7KM 21 City Botanical Gardens 3KM 19 INFRASTRUCTURE & INVESTMENT 255 LOGAN ROAD Buranda and the surrounding catchment is one of the fastest growing city localities in Australia with a forecasted population growth of 4.2% per annum. | This growth has been underpinned by the significant levels of investment on existing and future infrastructure by both local, state and Federal Governments for over $30 billion of major health, education, cultural and transport projects. These investments are part of the Queensland Infrastructure plan which alongside with local planning framework, represent the largest public infrastructure spending initiative in Australia’s history. BURANDA | BRISBANE | $12,036M $18,300M $30,000M Northern Busway (Stage 3-4) $2,200M Kurilpa Riverfront Renewal Masterplan $1,000M $1,300M $5,000M $1,750M Brisbane Airport Runway Upgrade Brisbane BaT Project Eastern Busway (Stage 3-4) $275M $4,000M Queens Wharf Redevelopment Boggo Road Redevelopment $650M N/A Kingsford Smith Drive Upgrade Howard Smith Wharves $80M Kangaroo Point Bridge $70M $650M $225M Brisbane Riverwalk Southpoint Mixed-Use Project QLD Cultural Centre Extension $1,200M $1,500M Legacy Way Motorway Lady Cilento Children's Hospital $140M $444M $4,800M Northern Busway (Stage1-2) Airport Link Motorway Brisbane Convention and Exhibition Centre $426M Eastern Busway (Stage 1-2) $325M $3,000M Southbank TAFE Clem7 Motorway $300M $56M GOMA Eleanor Schonell Bridge $63M $850M QLD Cultural Precinct and Southbank Kurilpa Bridge $426M $23M South East Busway Goodwill Bridge 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 QUEENSLAND MAJOR INFRASTRUCTURE PROJECT TIMELINE 17 a rare Development Opportunity 255 LOGAN ROAD | BURANDA CBD VIEW CORRIDOR - L25 | AN EXPERIENCED PROJECT TEAM DEDICATED TOD PROJECT DEVELOPER Key Transit Orientated Development Characteristics (Urbis 2014): ARCHITECT TOD Charactertisics TOWN PLANNING Rapid and Frequent Transit Service High Accessibility to Transit Station Mix of residential, retail, commercial and community uses QUEENSLAND • 69,300 to 115,500m² of residential GFA or approx. 820 to 1,300 apartments, including hotel. (45-75% of GFA) | FLEXIBLE DEVELOPMENT OPPORTUNITIES UNDERPINNED BY PLANNING CERTAINTY Established town planning instruments provide certainty yet flexibility to adapt to changing market conditions over the project time frame. The site has preliminary Approval from the Brisbane City Council which supersedes the Brisbane City Plan 2000 and ensures that all future development applications are code assessable requiring no public consultation*. Preliminary Approval has been acheived for 154,000sqm of GFA and can be developed in any mix within the following limits: BRISBANE The Boulevard at Buranda has been designed to create a world class transport orientated development within one of Australia’s strongest markets. The project will be able to capitalise off the strong demand for residential apartment product underpinned by unparalleled transport facilities, health and education infrastructure. • 7,700 to 46,200m² of commercial office GFA (5-30% of GFA) (TOD) • 7,700 to 21,500m² of retail GFA, including a supermarket of up to 4,500m2 (5-14% of GFA) • A maximum of 1,750 car parking spaces Site Assessment 3 3 3 High quality public spaces and streets which are pedestrian and cycle friendly 3 Medium to high density development within 800 meters of major transit precinct 3 Reduced Rates of Private Car Parking 3 • Other uses that can be developed within the overall GFA approval but included above are childcare, gymnasium, cinema “This sub-precinct offers one of Brisbane’s foremost transit oriented development opportunities. The frequency, convenience and connectivity of services are outstanding and provide the platform for the creation of an exceptional living, workplace and lifestyle hub. The scale and intensity of development in this sub-precinct capitalises on the opportunity to establish an exemplary mixed-use transit oriented development” - BURANDA STATION CORE SUB-PRECINCT, Extract from the Eastern Corridor Neighbourhood Plan within the Brisbane City Plan 2000. * Excluding site 8 which requires impact assessable development. 19 proposed Development 255 LOGAN ROAD GROUND PLAN Basement Carpark Entry line Cleveland train station train Buranda Restaurant precinct Logan | BRISBANE Gillingham St BURANDA Buranda Busway Station | Basement Carpark Entry road | QUEENSLAND O’keefe street Ground car park entry TYPICAL TOWER PLAN Building 2 • l4-l27 • p1-p3 • Ground Building 1 • l1-l5 • Ground BURANDA AREA SCHEDULE (GFA) 6 STOREYS TOTAL 28 STOREYS TOTAL Building 6 Building 8 • l5-l28 • p1-p4 • Ground • l6-l19 • p1-p5 • Ground 29 STOREYS TOTAL 20 STOREYS TOTAL B1 Residential (GFA) B2 B3 27,705 B4 B5 B6 B8 TOTAL 7,531 37,755 27,491 14,831 115,313 No of apartments 129 32 188 134 66 549 2 Bedroom (sml) 69 20 65 96 56 306 2 Bedroom (lge) 92 30 130 96 56 404 3 Bedroom 16 4 24 17 9 70 306 86 407 343 187 1,329 I Bedroom Logan Buranda Busway Station road Total Number O’Keefe street Building 3 • l1-l11 • Ground 12 STOREYS TOTAL Building 4 • l1-l5 • Ground • Lower ground 7 STOREYS TOTAL Building 5a • l5-l29 • p1-p4 • Ground • Lower ground 31 STOREYS TOTAL Building 5b • l5-l19 • p1-p4 • Ground • Lower ground 21 STOREYS TOTAL Office (GFA) 7,762 Retail (GFA) 379 21,973 14,211 656 314 1212 3011 4,136 2,234 11,942 Gym (GFA) 2,419 2,419 Childcare (GFA) 2,323 2,323 Other (GFA) TOTAL GFA PER BUILDING 0 8,141 28,361 14,525 8,743 40,766 36,369 17,065 153,970 21 proposed Design Building 3 Building 2 Building 6 Building 4 Building 1 Building 5A Building 5B Building 8 255 LOGAN ROAD The Boulevard’s design responds to the specific and unique nature of the site, accommodating the distinctive requirements of a TOD and positioned to take advantage of the transport and view corridors through modern and efficient design. | BURANDA | BRISBANE | QUEENSLAND 23 Market Overview BRISBANE - AUSTRALIA’S NEW WORLD CITY Underpinned by strong economic credentials and a positive outlook for growth, Australia is arguably one of the world’s leading economies and a great choice for business and investment. Brisbane is Australia’s New World City and the fastest-growing mature city in the world. The past two decades of strong population and economic growth have contributed to Brisbane’s economy reaching $135 billion, accounting for 48% of Queensland’s total GDP. AUSTRALIA’S FASTEST GROWING AIRPORT 3,300 FLIGHTS PER WEEK over 14,000 new residents per annum BURANDA 12th largest economy 50% Employment growth by 2031 due to a doubling in the economy | $1.6 trillion economy $142 BILLION COMMITMENT TO MINING RESOURCES AND INFRASTRUCTURE BASED PROJECTS AND DEVELOPMENT 255 LOGAN ROAD AUSTRALIA - ONE OF THE DEVELOPED WORLD’S LEADING ECONOMIES | BRISBANE 6th in the world by GDP per Capita 22 years of economic growth BURANDA - ONE OF BRISBANE’S FASTEST GROWING PRECINCTS Triple A rated by standard and Poors, Moody’s & Fitch Forecast - 634 new residents per annum 9,000 Period (Annual) -1.0% 0.0 Australia Queensland Source: Deloitte Access Economics, April 2014 2009 2010 2011 2012 2013 Australia 2014 2015 2016 Queensland Source: Deloitte Access Economics, June 2014 2017 2018 2031 2030 2029 2028 2027 2026 2025 2024 2022 2023 2021 2020 2019 2018 2017 4,000 2016 1.0 -0.5% 14,000 2015 0.0% 19,000 2014 0.5% 2.0 26,784 24,000 2013 1.0% SERVICES ONE OF AUSTRALIA’S LARGEST EDUCATION PRECINCTS • 12 Educational institutions located within 15 minutes drive of Buranda supporting over 140,000 students. 3.0 31,486 2012 1.5% 32,092 29,000 2011 2.0% 4.0 36,195 34,000 2010 2.5% 41,954 39,066 39,000 2009 5.0 3.0% 44,000 2008 Forecast 25 2007 6.0 Forecast 3.5% % change in GDP/GSP % change in white collar employment 4.0% ECONOMIC GROWTH, QUEENSLAND -VS- AUSTRALIA FORECASTED EMPLOYMENT GROWTH HIGHER THAN THE BRISBANE CBD • Historical Annual Average Job growth at 3% per annum – higher than the Brisbane CBD at 1.8% • Forecast requirement for 22,985 new jobs between 2014 to 2031. 2006 WHITE COLLAR EMPLOYMENT GROWTH, QUEENSLAND VS AUSTRALIA INCREASING POPULATION • Projected population growth at 4.2% per annum to 2031. EstImated and Projected Population The Queensland economy has historically led the nation in terms of GSP (Gross State Product), white collar employment and population growth and has been above the national GDP average 22 out of the past 25 years. It is forecast this will continue over the medium term underpinned by the mining and resource sector, improved residential construction market, a rebound in international tourists and the Queensland State Governments commitment to invest heavily in infrastructure projects. QUEENSLAND QUEENSLAND - LEADING AUSTRALIA IN GROWTH | The Buranda and surrounding catchment area of Woolloongabba, Coorparoo and Greenslopes is forecast to become one of the major growth precincts within the Brisbane market, underpinned by strong population and white collar employment growth, convenient accessibility to the Brisbane CBD and Southbank and strong connectivity to major arterial roads and transport networks. Sales Process 255 LOGAN ROAD | BURANDA A 100% INTEREST IN 255 LOGAN ROAD, BURANDA IS OFFERED FOR SALE VIA INTERNATIONAL EXPRESSIONS OF INTEREST. | BRISBANE 1. Parties interested in acquiring 255 Logan Road, Buranda and approved by the Vendor, will receive the Information Memorandum and will be granted access to a virtual data room upon execution of a confidentiality deed. 2. Interested parties are invited to submit a bid through an International Expression of Interest to purchase the property to the appointed agents by 12pm AEST Thursday 30th October. Expressions of Interest should include, but are not limited to the following information: • Name and details of proposed purchasing entity; • Offer price; • Details of capacity to complete the transaction including need to raise equity and or debt; • Details of any conditions or approvals required; • Timetable for due diligence, execution of contract and settlement; • Contact details. | QUEENSLAND 26 Disclaimer © 2014 This document was prepared by CBRE Pty Ltd and approved Anthony John Group to be distributed. The information in this document is general in nature and is a guide only. Nothing in this document is intended to constitute advice (including advice about financial products or services) and, before acting, interested parties should make their own enquiries and seek independent advice about all of the information in this document as it does not take into account your individual circumstances. CBRE does not warrant the accuracy of any information in this document, some of which may have been obtained from other people, and which has not been confirmed by CBRE. Figures quoted are approximate only, are subject to change, and do not take account of the possible impact of GST. The information must not be relied upon to make any investment decisions. Subject to any statutory limitation on its ability to do so, CBRE disclaims liability under any cause of action whatsoever, including negligence, for any loss arising from use of or reliance upon this document, your failure to verify the information or seek appropriate advice. Where information in this document relates to the sale, purchase or lease of property in a particular jurisdiction, it is provided on behalf of the member of the CBRE group which is a licensed real estate agent in that jurisdiction. CBRE respects your privacy and is bound by the National Privacy Principles. If you would prefer to be removed from this mailing list, please contact our Privacy Officer via +61 2 9333 3333 or email privacy@cbre.com.au. A copy of our Privacy Policy can be viewed at http://www.cbre.com.au/Pages/ privacypolicy. aspx and http://www.cbre.com.au/ Pages/ Australia-Privacy-Statement.aspx. FLINT DAVIDSON Director Capital Markets, Institutional Investments t:+ 61 7 3833 9701 m:+61 411 183 061 e: flint.davidson@cbre.com.au DARREN COLLINS Associate Director Metropolitan Investments t:+61 7 3833 9880 m:+61 404 781 787 e: darren.collins@cbre.com.au MIKE WALSH Associate Director Metropolitan Investments t:+ 61 7 3833 9722 m:+61 401 059 741 e: mike.walsh@cbre.com.au
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