Broad Construction win $140 million mixed-use Ferny Grove Central contract
Broad Construction have won the contract to deliver the $140 million development of Ferny Grove Central in Brisbane's north-west.
Broad Construction, a subsidiary of CPB Contractors and part of the ASX-listed CIMIC Group, look set to commence construction of the project, which will turn the Ferny Grove Railway Station precinct into a vibrant suburban Transit Oriented Development (TOD) with a range of residential, retail and entertainment, by May this year.
Construction of Ferny Grove Central is expected to take 28 months with completion set for late 2023.
The TOD is being developed by the Townsville-based Honeycombes, in partnership with their financier MaxCap. The project has been in the planning phase for the past seven years.
The Ferny Grove project will comprise a 12,000 sqm retail centre with a new multi-level parking facility for retail customers and commuters. There will be 82 apartments and a recreational deck for residents in the residential building known as The Fernery.
CPB Contractors said it was pleased to be working with the Honeycombes Property Group on the landmark urban redevelopment.
“The experience of our team means that we have the capability to provide safe and certain delivery to our clients. Broad’s inclusive procurement strategies will also provide opportunities for local workers and businesses," CPB Contractors managing director Jason Spears said.
Broad have a reputation primarily across Queensland and Western Australia for their commercial developments. In Queensland they transformed 155 Queen Street Mall and 170 Queen Street Mall in to multi-use developments, as well as the 14 storey office tower The Annex.
Honeycombes Property Group’s managing director Peter Honeycombe has welcomed Broad Construction as a key partner in the success of Ferny Grove Central.
“Broad Construction is the perfect partner for us to deliver Ferny Grove Central, with a depth of experience and a commitment to quality that is second to none,” Honeycombe said.
“As a landmark project for Brisbane’s North West that will define the urban landscape for decades to come, we’re pleased to bring this vital urban renewal project to fruition in collaboration that has a proven record of project success over the past 30 years.”
The Townsville-based Honeycombes has an extensive portfolio of developments in Queensland totalling $2 billion over the past 25 years.
Ferny Grove Central comes off the back of the company’s award-winning $252 million redevelopment of Coorparoo Square situated along Brisbane’s CBD eastern fringe. Coorparoo Square, built on the site of Queensland’s first Myer building, featured 366 residential apartments and retail space which was delivered over three stages in partnership with Frasers Property Australia.
