BUILDING OUR FUTURE (A SIX-PART SERIES)

PART 4: Brisbane adds a cosmopolitan edge

Building Our Future is our latest series, which takes a look at the latest and greatest development projects to head Brisbane’s way – from the new M1 Upgrade to the Queen’s Wharf – and many other pivotal infrastructural projects.

Each week the series will take a close look at a different project underpinned for the city of Brisbane; focusing on what it is, its benefit for our local economy and, most importantly, what it means for the local real estate world.

This week we are focusing on the Howard Smith Wharves.

What is the project?  

The proposed $100-million Howard Smith Wharves development is set to deliver a five-star, 164-room boutique Art Series Hotel, a parkland with two lifts up the cliff face, as well as a 1500-square-metre exhibition space which will be used to host cultural events and food festivals.

The new waterfront redevelopment going under Story Bridge has been marked as a world-class recreation, lifestyle, event and tourism destination!

Lord Mayor Graham Quirk has said the site would be 80 per cent parkland and public space.

"The hotel development will be designed to blend into the cliff face to ensure the iconic Story Bridge is kept as the main focus of the world-class view from the city," he said.

For more information on the project, head to  http://howardsmithwharves.com/ 

Why is the development needed? 

The answer is simple… it puts Brisbane on the map!

Howard Smith Wharves puts Brisbane right up there in terms of cosmopolitan cities – suddenly now giving Melbourne a run for its money.

Lord Mayor Graham Quirk agrees, saying that the new Brisbane landmark would deliver a "world-class waterfront destination" that would enhance Brisbane's reputation.

When he says world-class, that is exactly what he means; the boutique accommodation in the new Howard Smith Wharves redevelopment is set to be run by Art Series Hotel Group.

Marketing director or Art Series Hotel Group, Ryan Tuckerman, said they dedicate each property to one single Australian artist, so each of the properties that are already in existence – there are six already – all of them are named after and celebrate one individual artist.

"So it's almost like it's not only a boutique hotel, but it's also an art gallery as well."

 Mr Tuckerman said Art Series Hotel Group had been admittedly "Melbourne-centric" prior to its expansion into Adelaide last year but that they are really looking forward to being in Brisbane.

 "There's very much a cultural arts scene up there."

 With the new development set to attract more Australians to Brisbane, it seems that the Howard Smith Wharves will contribute to another significant tourism boost (local and international).

 However, the benefits are far greater than just providing a boost to our tourism market…

The benefits to Brisbane

For Brisbane, this milestone development spells far more than a fancy facelift for the city; it is a complete game changer! Especially when it comes to real estate. Whilst the major development is underway, employment numbers are expected to double after construction. Yes… double!

Lord Mayor Graham Quirk said that the Howard Smith Wharves development will create more than 200 jobs during the construction phase and more than 400 permanent jobs; further strengthening the local economy. In addition, the site is expected to offer a truly flexible and completely distinctive entertainment space…

"The state-of-the-art 1500 square metre exhibition space will open up opportunities to host exciting events such as cultural and food festivals, food and retail markets, weddings, conferences and pop-up retail spaces," said Quirk.

At the New Farm end of the site is the events hall, designed by Brisbane firm Woods Bagot, whom have described the hall as a "truly flexible space that offers Brisbane a unique opportunity on the river edge".

"Designed for multiple uses, this place is conceived as a public platform for events that contribute to the public realm of the entire site and the city beyond," Woods Bagot said.

All-in-all, there is much for Brisbane to get excited about when it comes to this new infrastructural addition to the city. Look out world, here we come!

The good news for investors

Now, given that the vast majority of new jobs are being created right here in the heart of Brisbane, one would expect quite a strong influx in the number of tenants looking to live in the CBD over the coming years so they can live closer to work.

New cultural spaces, boutique hotels and, overall, a more cosmopolitan lifestyle, Brisbane is on the verge of very exciting times ahead. With so much activity on the cards, it is evident that the demand for CBD properties (rentals and owner-occupied) is certainly on the up!

As the city of Brisbane grows, so too can your investment portfolio. Whether you are starting out or a well-apt investor, we can help. For more information or to schedule an appointment, contact Hannah and the HSBP team on 0419 782 133.