Dynamic Townsville-based developer
Honeycombes Property Group will start work on a $232 million redevelopment of
the old Myer building at Coorparoo in Brisbane after receiving Development Approval by the Brisbane City Council on Tuesday.
Honeycombes managing director Peter Honeycombe said the approval paved the way for an impressive urban renewal project for Coorparoo, which will include three residential towers featuring more than 360 apartments and 7,000 square metres of retail including restaurants, cafés and a 10-theatre cinema precinct.
The high profile site on Old Cleveland and Cavendish Roads, known as Coorparoo Junction, encompasses 1.25 hectares and was strategically identified by the Queensland Government for a Transit Oriented Development (TOD). The building was acquired by the Department of Transport and Main Roads for a below ground Busway Station as part of stage 2b of the Eastern Busway.
The Queensland Government and Honeycombes have been working on the project since 2011 when the Expression of Interest campaign shortlisted three proponents interested in taking on the site. Following the detailed tender process, Honeycombes executed a Project Agreement to develop the site.
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The proposed redevelopment will include more than 660 car spaces and include two large swimming pools, a tennis court, large recreation areas and green space.
The first stage will target national and internationally renowned restaurants and cafes and stage two will include a residential tower with approximately 112 apartments and an additional 600 square metres of retail space as well as a fitness centre.
“As part of the redevelopment we will deliver key public transport infrastructure on site, both to service Coorparoo residents now and support the future delivery of the Eastern Busway,” Mr Honeycombe said.
This includes transit way infrastructure and a bus stop along Old Cleveland Road, as well as connection with a future Coorparoo Bus Station. Honeycombes will also deliver a public plaza on the corner of Old Cleveland Road and Harries Road to facilitate a pedestrian connection to the Coorparoo Bus Station when it is developed.
Current Translink routes provide efficient access to and from Coorparoo with commuters able to reach the city in less than 17 minutes and the University of Queensland’s St Lucia campus in approximately 12 minutes.
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