The Queensland Racing Integrity Commission is packing its bags as redevelopment along the Brisbane River picks up ahead of the Olympics and Paralympics in 2032.
A swathe of sites are moving through the planning process, including the athletes village at Hamilton and the Albion Paceway.
The QRIC has spent $12 million on a new headquarters and laboratory at Bowen Hills, next to News Corp’s proposed $2-billion urban redevelopment project.
The commission needed to move out of the Albion Park Paceway precinct in anticipation of construction of the Breakfast Creek Sports Precinct. Work is due to start in 2026 and be completed by 2028.
Early planning on the facility is under way to create an indoor sports centre with 12 courts suitable for basketball, netball, volleyball, goalball and badminton.
The concept plans also show a plaza next to the centre, courts behind it, and a commercial space between the facility and Kingsford Smith Drive, including the Breakfast Creek Hotel.
Meanwhile, standalone facilities for the trots will be built at Norwell while greyhound racing will move to Yamanto.
The QRIC picked up its new 1766sq m site with a commercial building and two adjoining sites at 40 and 42 Campbell Street and 11 Tufton Street, Bowen Hills.
Colliers Queensland national director investment services Hunter Higgins said they had worked with QRIC in assessing the market to find suitable premises.
“Through long-standing relationships with owners in the immediate fringe, we were able to locate the ideal building in the inner-city fringe,” Higgins said.
“Bowen Hills Urban renewal area has become a thriving commercial and residential center, with an office vacancy rate of 13.3 per cent, it is the second tightest market in the Brisbane fringe, just behind Toowong.”
Colliers Queensland director investment services Nick Wedge said the site was in the Bowen Hills Priority Development Area and next to the proposed Millennium Square Precinct.
“The site has significant development upside and will only be further benefited by being next to News Corp’s proposed $2-billion urban redevelopment project,” Wedge said.
“That will see its 4ha base in Bowen Hills transformed into a multimedia hub, residential and lifestyle precinct with retail, parkland, restaurant and lifestyle spaces.
“It is also near the planned $1-billion Herston Quarter health, wellbeing, commercial and residential centre adjacent to the state’s largest hospital, and the $2.9-billion redevelopment of the 22ha RNA Showgrounds in Bowen Hills.”
The PDA scheme provides for the long-term growth of around 23,000 new homes and a million square metres of commercial, retail and industrial floor space to facilitate business investment.
