BRISBANE, Queensland, Feb. 29, 2016/ Medianet International-AsiaNet / --
  
Springfield Land Corporation, the multi-award winning city developer of Greater Springfield, announced today that it is seeking expressions of interest from development and capital partners to deliver a major medium density apartment project in City Centre North, with an estimated end value of more than $6 billion, located adjacent to the rail station and transit hub in the heart of Greater Springfield.
 
Greater Springfield is located in Queensland, Australia and has a total land area of 2,860 hectares (7,067 acres). Approximate travel times by car are: 30 minutes from south-west of the Brisbane CBD, 35 minutes from Brisbane’s domestic and international airports and 50 minutes from the Gold Coast.
 
Greater Springfield, an alternative to the Brisbane CBD, is one of Australia's fastest emerging new cities with a current population of approximately 32,000 people, which is expected to grow to 86,000 residents by 2030. $12 billion has been invested in Greater Springfield so far and the emerging city is experiencing approximately $600 million in construction expenditure per annum, with total investment on completion expected to be in excess of $85 billion.
The award-winning nation building project is centred on health, education, and information technology, and is driving a steadily increasing population, employment and dwelling demand.
 
The City Centre North apartment project represents an unrivalled opportunity to control, in a capital efficient model, the design, development and delivery of approximately 10,000 apartments, including ancillary commercial and retail space, over the next 15 years. The apartment project is situated on prime land which is ideally located close to significant existing and planned infrastructure and amenities. City Centre North's vision is planned and designed by internationally renowned consultants, Woods Bagot and Place Design Group.
 
Significant infrastructure, public amentities and commercial developments already in place in Greater Springfield include:
 
* strong public transport access, including the $1.2 billion Springfield Rail Line and transit hub;
* vast public open space, with major parklands incorporated in the Greater Springfield master plan;
* state-of-the-art health facilities, including the $85 million, 80 bed Mater Private Hospital and Cancer Care Centre, which is part of the Council approved
1,200 bed public & private hospital campus;
* extensive education facilities, including the University of Southern Queensland campus (which recently completed a $45 million expansion), 10
private and public schools, and 11 childcare centres – in total, catering for over 14,000 students or approximately 44% of the city's population;
* major retail destinations, including the Orion Springfield Central shopping centre (which recently completed a $154 million expansion); and
* new commercial office buildings, including the $72 million Queensland headquarters of GE.
 
Chairman of Springfield Land Corporation, Maha Sinnathamby, said "The City Centre North apartment project represents an exciting next step in the evolution of Greater Springfield, as an alternative to the Brisbane CBD, providing greater housing and work choices to the diverse mix of Greater Springfield residents across age cohorts and market segments.
 
"It also represents an opportunity for another visionary group to join existing major stakeholders who have been active in the development and commercialisation of Greater Springfield, including the Australian Federal Government, Queensland State Government, Lendlease, Mirvac, Aveo, Wesfarmers, Woolworths and GE", he added.
 
Springfield Land Corporation has appointed UBS AG, Australia Branch as financial adviser in relation to the City Centre North apartment project. UBS will today commence a formal process to seek expressions of interest from well-credentialed domestic and international development and capital partners.
 
UBS Managing Director and Head of Real Estate, Australasia, Tim Church, said "The City Centre North apartment project provides a truly unique development opportunity for a leading developer or consortium to control a major apartment project in the centre of one of Australia's fastest emerging new cities.
 
"Greater Springfield's significant near term population and employment growth, in addition to major existing and planned investment in infrastructure and
strong public transport access, will continue to drive strong dwelling demand", he concluded.
 
For more information and images , please contact:
Tim Church
UBS AG
Head of Real Estate, Australasia
+61 (0)2 9324 2688
tim.church@ubs.com
 
Michael Lyons
Springfield Land Corporation
Manager, Communications & Corporate Affairs
+61 (0)7 3819 9971
m.lyons@springfieldland.com.au

 
SOURCE: Springfield Land Corporation
 
 
--BERNAMA