Mixed Use
24 Rooney Street, Townsville, QLD, 4810
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Overview

  • Property ID:
    26188
  • EOI:
    Contact Agent
  • Area:
    17.218 hectares (*approx)
  • Type:
    Mixed Use,
  • Development Potential:
    Raw Mixed Use Development Opportunity (STCA)

Property Details

THE SOUTH YARDS PRECINCT TOWNSVILLE’S NEW CBD

Rarely is it possible to acquire an income-producing parcel in excess of 17ha* ripe for urban regeneration on the edge of a CBD, even more so when a Government body has recently constructed significant public infrastructure to seed this renewal process.

With the underlying land parcels having already been re-zoned to suit a future mixed-use development, the South Yards precinct represents an opportunity for a forward-thinking investor, developer or land banker to secure the key landholding into which the Townsville CBD will expand.

The recently completed (2020) $300 million dollar, 25,000 seat Queensland Country Bank stadium has been developed by the Queensland State Government and is the catalyst for the transformation of the South Yards precinct. The intention is to create an urban space with an activated streetscape and commercial, residential and hotel accommodation above. Construction of the $50 million North Queensland Cowboys Community, Training and High Performance Centre is well advanced adjacent to the stadium and the proposed 166 Room Hilton hotel midscale offering of Double Tree is now out for funding and will complete what will be a major change to Townsville’s CBD landscape setting the tone for Townsville next expansion.

Notable comparisons can be drawn to forward thinking urban renewal projects such as:

 Brisbane’s James Street and Southbank precincts;
 WalkerCorp’s acquisition and regeneration of Docklands in Melbourne;
 Lend Lease’s Barangaroo project;
 Gasworks, Newstead by MIRVAC and FKP or;
 The Honeysuckle precinct in Newcastle.

As the economic and Government administrative hub of North-Eastern Australia, Townsville is Australia’s 13th largest city with a population of over 229,031 (as at 2016). The city enjoys a diversified economy supported by the following sectors:

 Australian Defence Force – Lavarack Barracks, Australia’s largest defence base.
 Higher Education – James Cook University & Central Queensland University.
 State & Federal Government – Australian Tax Office, Queensland Government, Regional Headquarters, Ergon Energy, GBRMPA Head Office, AIMS.
 Major Organisation Representation – Adani Headquarters, Telstra Call Centre, Centrelink Regional Office
 Agriculture.

SOUTH YARDS PRECINCT - TOWNSVILLE’S MAJOR STRATEGIC LAND HOLDING

 Tourism.
 Northern Australia’s largest general cargo and container port. The Townsville Port is also Australia’s leading exporter of zinc, lead, sugar, fertiliser and molasses.
 Industry - Nickle Refinery, Copper Refinery, Zinc Refinery.
 Health – Townsville University Hospital is a tertiary care hospital.

In addition, there is currently $6.91 billion of infrastructure development currently underway or scheduled for the Townsville region which will drive further growth and demand for the amenities to be constructed on this site.

Opportunities of this scale with holding income, favourable zoning and in such close proximity to a major regional CBD supported by a diversified economic base are rare.

*approximately

Please contact the marketing agents for further details:

Neville Smith
Associate Director | Townsville
Colliers International
Mob +61 438 765 087

Samuel Biggins
Director | Queensland | Investment Services
Colliers International
Mob +61 410 979 075

Edward Bull
Senior Director | Capital Markets
CBRE
Mob +61 438 619 692

Peter Turnbull
Senior Director | Advisory & Transaction Services
CBRE
Mob +61 417 603 195

Remember to mention you found this property on DevelopmentReady.com.au

Agency information

Honeycombe Property Group Sales

Agency information

Neville Smith
Samuel Biggins

Agency information

Edward Bull
Peter Turnbull
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