It has been a few months now since we have had a renewed look at the Queens Wharf development and the latest when it comes to this game changing project set to alter the face of Brisbane. 

 Preliminary site investigation works for the multi-billion dollar project have now begun and a great deal more is now known about development. In this edition of Market News, we bring to you the latest on Queens Wharf and the impact it is set to have on our shining city.

 When Queens Wharf was announced to the public back in November, so was the driving vision behind the project, further cementing exactly why it is such an important development for our State Capital.

“Queen’s Wharf Brisbane has the capacity to realise Brisbane’s growth and profile aspirations by delivering a truly-place defining precinct with significant transformational impacts on Queensland’s economy, jobs, tourism, visitation, liveability and image.”

Destination Brisbane Consortium

Looking at the many architectural renders available for the project is like stepping into a thoughtfully designed, impressive, futuristic dreamscape.  In terms of design alone, we currently have nothing like this development in all of Australia.  It will draw the eyes of the world onto our fair city and for all the right reasons.

Queen's Wharf Brisbane will be the hub that connects the defining parts of the city – the Botanic Gardens, the Queen Street Mall, the Cultural Precinct, South Bank, the Parliamentary Precinct and the Brisbane River. The redevelopment area is state-owned land, located between the Brisbane River and George Street and between Alice and Queen Streets.

A major coo for Queens Wharf is employment opportunities it will create.  More than 2000 construction jobs will be created via the project and over 8000 operational jobs.  That means another 10,000+ people working in our CBD, many of these also likely to want to live/work/play/eat in the immediate area – fantastic news for local businesses and property investors as this huge injection of tenants into the Brisbane CBD is likely to create exciting momentum when it comes to increasing property values, increasing rental income and decreasing vacancy rates. 

 The key will be realising this future opportunity now and securing properties in the CBD before the onflow of the development starts to impact on property values and we see things start to escalate.

However it is not only the new jobs and potential impact on property values that are causing a stir. There are many benefits to consider when it comes to the new development:

• more than 12 football fields of redeveloped and enhanced public realm
• a new pedestrian bridge to South Bank
• an iconic signature “Arc” building, includingaspectacularfeatureSkyDeck, withrestaurantsandbarsfullyaccessibletothepublic
• five new premium hotel brands - including the Ritz Carlton and Brisbane's first 6 star hotel
• three residential towers
• a new department store
• around 50 food and beverage outlets
• a riverfront moonlight cinema
• a Queensland Hotel and Hospitality School partnership with TAFE Queensland
• $272 million payments to the State
• a guarantee of $880 million in casino taxes for the first ten years of operations
• $1.69 billion annual increase in tourism
• $ 1.39 million additional tourists per annum
• $4 billion to the Gross State Product.

Time line for Queens Wharf 

The timeline for the Queen’s Wharf Brisbane developmentis:

2017 - Anticipated start of construction activities following completion of 1WS (1 William Street skyscraper) Likely activities include the removal of non-heritage buildings, then start of underground car park construction

2018 - Commence foundations for core development area

2019 - Foundations, car park completed Heritage work commences

2020 - Core development starts to take shape as construction progresses above ground

2021- Internal fit out commences of IRD (Integrated Resort Development) buildings

2022 - Opening of core integrated resort including hotels and all public realm areas. Conversion begins of Treasury building and beneath Queens Gardens to create a retail zone that links Queen Street Mall to the heart of the precinct

2024 - Anticipated opening of the repurposed Treasury building

Interested in seeing the beautifully prepared video fly-throughs for the project and get a feel for exactly how it will look in the midst of the CBD? Click here to access. 

Brisbane is on the verge of very exciting times ahead.  Make an appointment with Hannah on 0419 782 133 to find out how you can secure your piece of Brisbane now. 

From water usage to rental yields and vacancy rate reports - we take an in depth look at why the future of investors lies right here in Brisbane.

 The latest Speculative Vacancies Report prepared by Prosper Australia has claimed that there are a lot of vacant Melbourne investment properties at present.

 The report attempts to measure how many vacant homes are in Melbourne by analysing how much water they use each year. According to the latest edition of the report which analysed water usage over 2014, 82,724 homes in the greater Melbourne area used less than 55 litres of water a day.

Prosper claims that level of water usage is the equivalent of a single tap being allowed to drip all day and is much less water than the average person would use in a day. Thus, suggesting that those homes are being left vacant.

Paul Osborne, head of Melbourne based buyers’ agency Secret Agent, said the Prosper figures were probably an accurate picture of the situation in Melbourne.

“Those figures are probably about right and I think the method of looking at water usage is a pretty good way of finding out what’s really going on,” Osborne said.

However, it is not just water that is showing high vacancy numbers in Melbourne. Seems power is is also a good indicator of where things lie for the city. Just take one look at apartment buildings in Melbourne city at night and you will see many of them are there with their lights off sitting vacant.

 Thankfully, this isn’t the case across the board in Australia.

 I guess the question on every investors’ lips is, where to next? If Melbourne is showing signs of empty buildings and apartment complexes, where in Australia should investors be looking at? 

After observing latest figures, it seems the proof is in the pudding, with Brisbane certainly indicating to be the state that more and more investors are starting to sit up and take notice of – and with high rental yields and vacancy rates higher than Melbourne, Adelaide, Perth, Hobart, Canberra and Darwin, why wouldn’t they?

The Australian Housing Outlook Report by BIS Shrapnel for QBE shows that Brisbane is currently experiencing higher rental yields than most of the other capitals. 

With all that in mind, it seems that Brisbane is an obvious choice for the next location of any future investor. Here at HSBP we can help source the best investment opportunities that Brisbane has to offer. For more information or set up an appointment, contact our professional team on 0419 782 133.

Reference: Australian Housing Outlook Report 2015 – 2018 by BIS Shrapnel for QBE

After years of popularity among the real estate world in the U.S., walkability has now ventured to Australia – and in a big way. We take the time to explain what it is, how it can impact an investor’s buying decision and why CBD areas are scoring so well.

 What is walkability?

If you are not already familiar with the term ‘walkability’ then allow us to explain. To break it down simply – it measures the ‘ability’ to ‘walk’. In terms of real estate, this is an assessment on how easy it is for residents to get around (AKA the ability part) their neighbourhood on foot (AKA the walking part) in order to get to work, public transport and shops.

 How is walkability measured?

An area or suburb’s walkability is measured using GPS, website addresses and online tools to identify areas whereby more households are close to businesses like cafés and dry cleaners and recreation venues like theatres and gyms. An area is then given a score out of 100.

Which areas do well in the walkability ranks?

It is no surprise that the suburbs which have the best walkability rankings are those with a higher population density and are located close to city centres; these are the ones which are scoring 90 points out of the possible 100. We are predominantly talking CBD areas and inner city suburbs.

 Does a high score translate into better property values?

Absolutely! It is an obvious equation that those areas with higher scores, like the CBD, will naturally translate into better property values, as walkability indicates a location with high residential amenity. And properties in close proximity to amenities will always be sought after because of the huge lifestyle advantages they offer. People will pay top dollar to live closer to work or within walking distance to the shops.

 Should investors pay attention to walkability scores?

 According to Hannah Schuhmann, Principal of HS Brisbane Property (HSBP), walkability is an emerging theme home buyers and investors should certainly be taking note of. She says at HSBP they often see that a tenant’s decision to live in the CBD is driven by lifestyle, and this goes hand-in hand with high walkability scores.

 “Tenants want to be close to everything – work, nightlife, shopping and transport. Areas with high walkability scores makes this possible,” says Schuhmann.

“By being able to walk to work or the shops, means there is less time commuting and stuck in traffic and thus makes it easier and far more enjoyable to get about from day-to-day.”

Hannah also feels it is much easier for investors to attract tenants to a property located where people can easily walk to work and the shops.

 “Take Brisbane for example, our investors love the CBD due to the fact that it is so easy to walk to coffee shops and nightlife, and get to work. This in turn makes properties in the CBD better able to draw in tenants and makes it an attractive investment location for our clients.”

While, walkability is a growing trend here in Australia, the actual thought process behind it is not new at all. We have always known that residents like to live within close proximity to work, amenities and lifestyle facilities. What is new, is the idea of this information being formulated in such a way that one magic number (the walkability score) now tells you everything you need to know about a suburb in terms of its location and ease of access to local facilities. 

 Nearby to major universities, shopping precincts, the Brisbane River and Botanical Gardens, plus on the doorstep to some of Queensland’s finest, award-winning restaurants, bars and cafés - it comes as no surprise that Brisbane’s walkability score ranks up there with the best of them! 

 Investing in areas with high walkability scores, such as Brisbane, is proving more and more popular in Australia. Why not call us on 0419 782 133 and let one of our local agents help you tap into the high ‘walkability’ territory we call Brisbane CBD.

Following the recent 2016 Brisbane Council Election, it seems it is all systems go for the new $1.54 billion Brisbane Metro rail after LORD Mayor Quirk was re-elected – great news for the city, the people of Brisbane and its investors alike.

 After Lord Mayor Graham Quirk was returned to City Hall with a historic majority in the recent election poll, it became fast apparent that Brisbane was well and truly on track for the construction of the $1.54 billion Brisbane Metro rail.

 Cr Quirk said he was confident the project would proceed.

 “We don’t just make announcements and leave them to gather dust on the shelf,” he said.

“We’re doers. We go out and build.”

 Expected to start in two years, the rapid transit project is billed as a congestion-busting “high-frequency, high-capacity mass transit system” that will link Herston and Woolloongabba to the CBD using the Inner Northern and South East busways - touted as the solution to the bus bottleneck at the Cultural Centre station.

 What does this mean for local CBD property owners and tenants?

 The new Brisbane Metro rail project should be capable of carrying up to 30,000 passengers an hour, guaranteeing quicker travel times and freeing up 200 buses to be redirected to the suburbs.

 It will also be able to cut travel times sufficiently, in some cases reducing trips by more than 50 per cent. For example, times from Woolloongabba to CBD are expected to go from 12-20 minutes down to just 6.5 minutes and a trip from Herston to CBD will be cut from 9 minutes down to 5.5 minutes.

 Providing faster, more efficient means of travel is great news for city dwellers and investors, as it means getting from A to B will be much easier. Whether it be going to and from work each day or travelling to a sporting event on the weekends, the rail project is a great result all round. Once again, just adding another tick in the box for Brisbane, and the investors who have property in the CBD.

 Local city owners and investors can expect the following changes due to the new Metro rail:

•  Upgrades to the existing RCH station
•  Upgrades to existing Kelvin Grove station
•  Upgrades to the existing Normanby busway station
•  Upgrades to the existing Roma St busway station
•  Upgrades to the existing KGS busway station
•  North Quay closed for through traffic
•  New underground light metro Cultural Centre station with portal to Victoria Bridge
•  New portal Adelaide St with new tunnel to connect to existing Albert St busway tunnel
•  Convert Victoria bridge into a ‘green bridge’
•  New GABBA terminus 

While this is exciting news for Brisbane property owners and investors, the project was just one of several city infrastructural upgrades that came from Cr Quirk’s victory. According to reports, his recent re-appointment also means the $650 million upgrade of Kingsford Smith Drive will proceed, as will construction on a river-based fountain east of Victoria Bridge.

 Why not come down and speak to us about the numerous new-found investment opportunities that will stem from the city’s new $1.54 billion Brisbane Metro rail? Call the team on 07 3254 0888 to set up an appointment.

In amongst the hot urban scrawl, it is becoming more apparent that tenants are looking for green, leafy surrounds to enjoy those scorching summer days. Thus, making greener spaces the latest inner city hot spot among Australian CBDs – and because of this new insight apartments near gardens and parklands should be high on every investors’ agenda when it comes to sourcing that next lucrative CBD property.

Do not get us wrong. We are not saying that it is about one negating another; that trees and parks win over bars and cafés. No. What we are alluding to is that nowadays tenants want it all.

 They want the bustling nightlife; they want close proximity to work and the mall; they want the spacious balcony and sweeping views; they want to live close to the best restaurants… and now, they also want green trees and leafy parks as well.

This is certainly great insight for any investor and something worth taking into account when it comes to trying to work out exactly what future tenants are looking for in their CBD apartment.

With this in mind, it comes as no surprise as to why more and more investors are capitalising on Brisbane apartments. Brisbane offers everything there is to love about city living, and much more – thanks to its widespread offering of green trees and parklands. 49 per cent to be exact.

Yes, you read correctly. Brisbane has a tree canopy level of 49 per cent overall, which is second only to Hobart among Australian capital cities, with canopy coverage in the CBD at 16.3 per cent.

Within minutes of many Brisbane CBD apartments you can enjoy the beautiful green surrounds, including: walking along the boardwalk of Eagle Street Pier overlooking the river; enjoying an afternoon run along Riverwalk; rowing with the water lovers on Brisbane River or; reading a book under the beautiful, leafy trees in the Botanical Gardens.

However, many feel that implementing more greenery in Australian CBDs is about much more than a simple lifestyle choice. It’s about improving wellbeing and comfort; two issues that stem from our increasing heat waves.

University of Queensland (UQ) Professor Jurg Keller, who is Cooperative Research Centre for Water Sensitive Cities’ Acting Chief Executive, says increased greenery in cities is critically important for people’s wellbeing.

“Heat waves are an emerging urban health crisis, and greening our cities helps reduce the problem,” he says.

“Trees and green parks save energy, improve our comfort and foster a social and active lifestyle.”

In addition, tree infrastructure in cities also assist to cool and clean the air, while also slowing down and filtering stormwater run-off.

These are just a few of the many reasons why Australian cities need to invest in greener landscapes. That being said, one of the most important reasons is future economic growth. With more people craving greener landscapes, you do not have to be a rocket scientist to work out that those cities that implement more trees and parks will grow in numbers. 

One city already leading the pack when it comes to greener city ‘hot spots’ is Brisbane – thanks to being ranked in the top two ‘tree covered’ cities in Australia!

So, if your tenants are looking for a location with it all – where they can be reading under a tree by day and escaping for happy hour at the best nightspots by night – then you need to speak to the team at HSBP. We are the experts in Brisbane property and can point you in the right direction when it comes to the greenest hot spots (and neighbouring apartments) that Brisbane’s CBD has to offer.

Call 0419 782 133 to set up a private consultation with one of our experts.