Call for developers to build Springfield CBD

Development of Brisbane’s second CBD is set to go into overdrive, with the consortium behind Greater Springfield putting out the call for partners to create a $15 billion town centre precinct.

Springfield City Group this week launched a global tender to create a ‘Knowledge Precinct’ at Springfield, which has a population of 46,000 that is growing at 5.8 per cent per annum.

Located around 35 minutes’ drive from the Brisbane CBD, Springfield is the first and only master planned city in Australia since Canberra.

The developers have spent $18 billion since 1991 creating six new suburbs, 11 schools, a private hospital, university and TAFE campus.

The new CBD will be designed to create job opportunities in health, education and technology, with strong interest expected from major developers from Australia and overseas.

SCG chairman Maha Sinnathamby said the initiative launched this week would “turbo charge” the development of the Springfield CBD.

“This project represents a unique opportunity to join us in creating a legacy. Completion of a futuristic city, harnessing innovative thinking, will make a real, positive impact on economic growth and job creation in South East Queensland,” Mr Sinnathamby said.

“We have a 29-year track record as the master developer of Springfield City and have successfully partnered with some of Australia’s leading property groups in the past, including Lendlease, Mirvac, and AVEO, now owned by Brookfield.”

The precinct has approvals in place to create 1.22 million square metres of commercial space and more than 5,000 apartments on 119 hectares of developable land.

Springfield’s residential population is forecast to nearly triple to 115,000 by 2036, making it one of the fastest growing areas in Australia.

Moelis Australia is assisting SCG in the global tender process, with a preferred partner to be announced in coming months.

SCG deputy chairman Bob Sharpless described Springfield as a truly unique project, which was currently only 25 per cent developed.

Springfield has an average age of 29, while its population growth underpins demand for new commercial, retail and residential development.

Plans in place call for an expansion of Mater Private Hospital from 80 beds to 1,200, an additional 10 schools, an expanded University of Southern Queensland campus and a range of commercial, retail and residential buildings.

“With considerable established infrastructure, eleven schools, residential developments, a hospital, existing local and regional transport links such as highways and two rail stations, and much more, we are already well on our way to becoming an economic centre for South East Queensland,” Mr Sharpless said. 

“With the right partnership in place, we will usher in the next chapter for our city.”