BUILDING OUR FUTURE (A SIX-PART SERIES)

PART 2: Brisbane Live puts CBD on a global stage

Recently we started writing a new series called ‘Building Our Future – an ongoing six-part series that takes a look at the many new and exciting development and infrastructure projects on the cards for the city of Brisbane. Throughout this series we will be putting a different project under the microscope; focusing on what it is, its benefit for our local economy and, most importantly, what it means for the world of local Brisbane real estate.

This week we shift our attention to Brisbane Live.

What is Brisbane Live?

AEG-Ogden, a subsidiary company of AEG, (the world’s largest entertainment venue operator) has unveiled plans for a massive $2 billion ultra-entertainment precinct to be built above the Roma Street rail lines. This new entertainment precinct is called Brisbane Live, and is set to include a new 17,000 seat arena, cinema, restaurants and a public space - think Madison Square Garden in New York City; think Federation Square in Melbourne! 

The masterplan put forward by AEG-Ogden features a sliding front wall that opens to reveal live acts on stage, the $450 million arena will also include a 4000-capacity rock club and be surrounded by multiplex cinemas, restaurants and bars, and a giant screen and amphitheatre catering for around 15,000 people. 

 Furthermore, the complex is expected to make use of the valuable air space above existing rail lines as well as the connectivity that Roma Street has to every rail line in the SEQ rail network – with no land swap or sale required. An interactive 360-degree view of the masterplan proposal and streetscape can be viewed at www.brisbanelive.com.au. 

Why the precinct?

The centrepiece of the Brisbane Live plan is the 17,000-seat, world-class arena, which is anticipated to showcase international superstar concerts and performances as well as world sporting events. 

 A precinct of this magnitude is certainly anticipated to put Brisbane on a global stage (quite literally) – attracting major worldwide acts and audiences to the city. Plus, given the location of the proposed development, the real power of the precinct is its ability to be able to transport thousands of spectators in and out of the precinct within just minutes.

The benefits to Brisbane

According to many industry experts, the sheer scale of the Brisbane Live project would not only create thousands of jobs for the city (during construction and at its conclusion), but also inject a much-needed boost to the development sectors for the state. 

According to Deputy Premier Jackie Trad, Brisbane Live is a great example of the kind of transformational infrastructure that will be possible by delivering Cross River Rail. 

 “The Brisbane Live proposal is an exciting idea that could reshape our city,” said Trad.

The good news for investors

In addition to the thousands of jobs that a project of this magnitude is expected to bring to Brisbane, much like Queens Wharf (which should bring over 10,000 new jobs to Brisbane), there is also the flow on effect of Brisbane’s reputation which ultimately drives tourism to the city.

According to brisbanedevelopment.com, AEG-Odgen chairman Harvey Lister told the Courier Mail that in over 40 years in the entertainment business – the last 30 of which working on this type of project in Australia and around the world – this is as exciting a transformative opportunity as we have seen.

“This is an urban renewal that removes an ugly scar and replaces it with something to be enjoyed by future generations,” said Lister.

Many experts, like Lister, are saying that Brisbane Live, coupled with Queens Wharf are likely to set off a chain reaction for Brisbane to finally move out of the shadows and truly become what our City Council has been marketing – a New World City, and one that is taken very seriously – which, for investors who have property in Brisbane this marks the beginning of something very special indeed!

Want to make the most of the lucrative opportunities that new developments, like Brisbane Live, are expected to bring to the Brisbane CBD? You need to contact the professional team at HSBP on 0419 782 133 - we know Brisbane like the back of our hand.