The next stage of Fortitude Valley’s ongoing transformation has begun, with Brisbane City Council recommending approval of plans for a new commercial office tower.
The 23 storey tower will be the first stage in a $500 million transformation of the train station precinct with the creation of a master planned residential, retail and business hub.
LaSalle Investment Management’s International Director Ian Mackie said the approval would continue the Valley’s renaissance as a business centre and focus renewal on this formerly neglected part of the Valley.
“We’re looking to create a safer, more vibrant environment and breathe new life into the precinct,” Mr Mackie said.
The renewal is expected to be particularly welcomed by the 15,000 rail commuters who pass through the precinct each week day.
The commercial tower on the corner of Constance and Alfred Streets will deliver a dedicated pedestrian entry to the site.
The existing multilevel commercial car park will be retained but commuters will no longer need to walk through it to access the station.
“The Fortitude Valley station is the gateway to the Valley for thousands of commuters a day, but the precinct around the station is in desperate need of renewal,” Mr Mackie said.
LaSalle Investment Management is also planning the development of a 30-storey apartment tower featuring 207 apartments and a dramatic refurbishment of the Valley Metro retail centre.
The aim will be to create a light, airy destination, with family styled entertainment and new retail tenancies creating a seven day a week environment, but work was subject to ongoing lease negotiations with Queensland Rail.
Construction of the commercial tower (32,000m 2 NLA) could start in the next 12 months.
“We’re constructing an A Grade building with large 1,600m2 plates, and Council’s approval means we can now talk to a range of prospective tenants about the quality of the offer here," Mr Mackie said.
Brisbane City Councilor Vicki Howard said the development would provide a huge boost to the precinct.
“Following completion of this project, we will see the Valley’s daytime economy grow, with more residents and workers to take advantage of the dining and retail opportunities that the Valley has to offer," she said.
Architectus was appointed to take the lead on the commercial tower's architecture, and architect Colin Odbert said their designs respected the heritage value of the area while incorporating subtropical themes such as cool, shaded spaces, sky gardens and covered lanes.