A new $650 million international-standard luxury mixed-use development named ICON has been approved for development within the Northshore Hamilton precinct in Brisbane’s inner-north.
Economic Development Queensland (EDQ) approved the application for Australian private property trust Wentworth Equities, to develop ICON on a 7,637 square metre site at 19 Hercules Street, Hamilton.
The design concept was selected after a national design competition.
The winning concept, by Australian design firm Custance, features four distinctive towers and a connective sky bridge, anchored by a world-class public area that establishes a new gateway and a better connection to the Brisbane River.
The project features 567 residential apartments; an international- standard five-star 227- room hotel with premium conference, function and recreational facilities; high quality retail and restaurant precincts; childcare and open-air public realm and community civic plaza, ‘Hamilton Plaza’.
Wentworth Equities Executive Chairman Sameh Ibrahim said the time was right for significant investment in Brisbane, as the city is now growing into a recognisable new world city and is receiving increased interest as a place to live, work, invest and visit.
“Brisbane’s diverse economy, growing population base, great employment opportunities, excellent relative housing affordability and availability, climate and natural attributes really make it the place to be,” Mr Ibrahim said.
Mr Ibrahim also says that the recent G20 summit in Brisbane has further enhanced its international profile.
“Leveraging this global spotlight, ICON will set a new architectural, lifestyle and economic benchmark for Brisbane, supporting its ongoing transformation into a sophisticated, world-class city,” Mr Ibrahim said.
Developers of the five-star hotel expect the property to boost tourism and event credentials in Brisbane.