A development application (DA) to redevelope the CBD’s Ulster Lane has been submitted by Aria Property Group, reports brisbanedevelopment.com. 

The private laneway is part of Aria’s property at 171 Edward Street. The laneway is currently used as a servicing parking area, with the new plans to transform this underutilised part of the CBD into new tenancies for dining, retail and entertainment. 

The key elements of the DA include:

•  The rear of Ulster lane to have a bar/restaurant tenancy
•  Café that has service window out to Ulster Lane
•  Level 1 building reconfiguration to house a new retail/commercial tenancy (211 sqm)
•  General improvements including landscaping, seating, lighting, and paving.
• Inclusion of new partially-external stairs and landing area
• A new lift
• Gates at two locations in laneway for security and safety.
• A second mezzanine and food venue container for the rear of the laneway 

Hannah Schuhmann said Brisbane’s vibrant laneway culture is adding to the appeal of CBD living. Just a 300 metre walk from this proposed redevelopment is the sought-after Felix building where a buyer can own a 2 bed 1 bath apartment for $435,000. 

Artist impressions of the redevelopment plans can be found at https://brisbanedevelopment.com/redevelopment-plans-lodged-by-aria-for-ulster-lane-in-the-cbd/ 

For a full guide to Brisbane’s vibrant laneways visit  https://www.visitbrisbane.com.au/information/articles/activities/guide-to-brisbane-s-laneways?sc_lang=en-au 

Momentum Wealth surveyed  483 investors across the nation, which resulted in Perth (36%) and Brisbane (33%) as their top choice for property investment in our capital cities. 

Team Leader of Momentum Wealth’s buyer’s agents, Emma Everett, told Media Net growth opportunities and affordability are key factors.

“Whilst both markets offer strong levels of affordability compared to Sydney and Melbourne, they also hold promising opportunities for long-term growth, with Brisbane already experiencing overall price growth and areas of Perth performing strongly as the market enters its recovery,” she said. 

Property Observer columnist Terry Ryder wrote an article this week indicating leading economists such as Westpac’s Bill Evans’ are over estimating the doom and gloom of property prices, and “what should concern them is their disturbing lack of knowledge about residential real estate markets.” 

Ryder indicates where property prices have fallen considerably, these are in the minority. The latest Hotspotting report of sales activity and prices for every town in the country shows that only 8.5% of locations are “danger” markets where vacancies are rising, prices are down and demand is falling. 

Comparatively, 20.5% of location are strongly increasing. Those towns that don’t sit in the figures just mentioned (which is the majority), are markets where they have solid prices and good demand. 

“Most markets around the nation have prices that are rising or are holding firm. “

Ryder said Brisbane is holding strong. 

“Brisbane overall is not rising strongly with prices, but it’s not falling either – and individual pockets are out-performing. It’s not hard to find suburbs where median prices have risen in double digits in the past year.”

Another interesting point in the Momentum Wealth survey showed that in the past 12 months to November 2018, 67% of people who took the survey had reviewed their loans, which is up 8% on results from the previous year. 

Hannah Schuhmann said Brisbane CBD is a great choice for property investment. A two bedroom apartment in the high-quality Felix building is available for $435,000 which would provide an approximate 4% net return for a savvy investor. 

A recent report from Moody’s indicated fast-paced activity in technological innovation and e-commerce is driving the industrial real estate sector, reports urbandeveloper.com. 

The report stipulated long-term demand averages are being exceeded by supply which is resulting in a shortage of available industrial land.  The key areas of shortage are close to major transport hubs. 

Moody’s predict that as larger blocks of land become harder to source in Sydney, buyers will be looking for better value, comparable industrially-zoned property in other capital cities such as Brisbane of Melbourne, while continuing to service their Sydney business from these sites. 

Over the past three years, demand for industrial real estate has been driven upwards. Values have increased in Brisbane by 25 per cent, 35 per cent in Melbourne, and 50 per cent in Sydney. 

A lack of quality space in the sector is said to be driving down transaction volumes.

Moody’s told the urbandeveloper.com that rent values will be the next to rise. 

“We expect cap rates will likely compress further over the next 6-12 months, as rising rents support asset values.”

An article in The Australian Financial Review’s written by Larry Schlesinger recently echoed this sentiment, reporting big companies requiring large industrial real estate for hi-tech facilities are in strong demand. Automation is top of mind for many large companies as labour costs grow. Rents are expected to see a strong rise this year, with talk amongst real esate agents, analysts landlords resulting in the belief that "demand from both offshore and local investors for prime assets should continue to drive up capital values.” 

Commercial real estate agents CBRE indicated in the article that rent for prime locations will rise by 3.2 per cent in Brisbane, and the e-commerce sector will play a major role in this. One example is Coles, who, over the next six years will spend $950 million to fit out two mega automated warehouses in Sydney and Brisbane. These automated warehouses will replace five current manual facilities, which in turn will result in doubling the amount of goods that are handled on half the footprint.

The Port of Brisbane has announced the key contractors that will complete the Brisbane International Cruise Terminal, reports yourneighbourhood.com.au.

Brady Marine and Civil have been awarded the wharf construction element, and Hindmarash will complete the terminal building and civil works of the $158 million project. Works for the project will commence in April.

Cameron Dick, Minister for State Development, Manufacturing, Infrastructure and Planning said the terminal, will be a great economic driver for both Brisbane and Queensland.

“It is expected to contribute $1.3 billion in net expenditure into the Brisbane economy alone over the coming two decades. An estimated 245 jobs will be supported during each year of construction, while an additional 49 jobs will be supported each year over the next 20 years,” said Mr Dick.

The terminal itself will be a two level structure spanning 9,300 square metres with two air bridges for passenger movements, and a 200m long wharf. Parking will be available for buses and cars.  

Premier Annastacia Palaszczuk said the terminal, which will be located on the north side of the Brisbane River, is set to open in 2020.

“Cruising is one of tourism’s great growth stories, for both international and domestic markets.”

“A dedicated, purpose-built cruise ship terminal will boost our international reputation as a global tourism destination of choice.

“It will serve as a catalyst to supercharge growth in our tourism sector and related industries and generate jobs now and into the future,” said Mrs Palaszczuk.

Tourism Minister Kate Jones said the project is a key element in South East Queensland’s infrastructure.

“It will bring an increased number of cruise ships and more tourists to the state,” Ms Jones said.

“It will also safeguard the existing 1,250 jobs related to the cruise industry in Brisbane and add 49 operational jobs on average each year over the next 20 years as the industry grows,” said Ms Jones. 

For those involved in the early planning that started in the 1970’s, it would be hard to believe Brisbane’s 2^nd airport runway is so close to to completion. Once complete, Brisbane is set to have the best runway system in the country, with the ability to double current capacity.

With so many benefits its hard not to be excited about! By 2035, it is estimated the new runway will provide $5 billion annual economic benefit to the region, and will have created an additional 7,800 jobs. Travellers will benefit from more choice of flight times, destinations and airlines.

Brisbane Airport Corporation (BAC) CEO and Managing Director, Julieanne Alroe, said the $3.8 billion infrastructure program which includes this new runway, aims to position the Brisbane Airport as the country’s chosen gateway for air travel. Forecasts have indicated that passenger numbers will more than double from 22.7 million at the end of the 2017 financial year to 50 million by 2035.

“Last year we had a record seven per cent increase in international passengers and, with numbers expected to rise, our focus is on how Brisbane Airport can continue to play a significant role in meeting forecast demand and stimulating even more,” said Ms Alroe.

Brisbane Airport has received great on-time performance (OTP) results the latest Punctuality League report where the top 20 airlines in the world are ranked. The airport received the best ranking within airports in Australia. Brisbane Airport chief executive Gert-Jan de Graaff indicated to australianaviation.com.au this is a sign of good things to come.

“We cannot achieve the result we have without the extensive work, research, technology and innovation being done in this area by so many of our partners across Australia and the world.

“The very good news is, we expect on-time performance to continue to improve with the opening of Brisbane’s new runway in mid-2020 which will effectively double Brisbane Airport’s capacity, providing us with the most efficient runway system in Australia.”

Hannah Schuhmann said businesses like the W Hotel, Westin, Emporium Hotel South Bank, The Calile Hotel in the Valley, and Howard Smith Wharf have already positioned themselves for the influx of approximately 1.2 million more visitors per year when the 2^nd runway opens mid 2020… YES NEXT YEAR!