Revealed: $140 million plans for mixed-use Ferny Grove Central project in Brisbane
Queensland developer Honeycombes Property Group has unveiled plans to deliver a $140 mixed use development at Ferny Grove in Brisbane's north-west.
Part of the project, which will include a new shopping centre called Ferny Grove Central, will be an apartment complex called The Fernery, which will have 82 apartments and a recreational deck.
Construction of the development which adjoins Ferny Grove Station is expected to commence in the first quarter of 2021.
The Townsville-based Honeycombes won the contract in 2017. The property financier MaxCap is its joint venture capital partner.
The project will transform the area into a vibrant suburban Transit Oriented Development (TOD). /in urban planning, a transit-oriented development (TOD) is a type of urban development that maximizes the amount of residential, business and leisure space within walking distance of public transport.
Honeycombes have previously success in a TOD. In 2015 they completed their award-winning $252 million redevelopment of Coorparoo Square, along Brisbane’s CBD eastern fringe, which featured 366 residential apartments and retail space delivered over three stages in a partnership with Frasers Property Australia. The redevelopment of Queensland’s first Myer building awarded with the prestigious Best Mixed-Use Development by the Property Council of Australia.
Peter Honeycombe, managing director of Honeycombes Property Group, says the Ferny Grove development will breathe new life in to the suburb and will create a neighbourhood village atmosphere.
"We have already received a high amount of unprecedented interest from the local market, highlighting the level of demand for both residential apartments and retail opportunities,” Mr Honeycombe said.
Honeycombe says the community feedback received has been an important part of their ongoing refinement of the approved development form.
“We have held more than a dozen different public forums, door knocked hundreds of residences neighbouring the project, and letter box dropped thousands of information fliers to keep the local community in the loop.
"This level of communication will continue during construction to ensure that the community remains aware of the progress on site.”
Honeycombes and MaxCap are expecting to announce a number of major tenants in coming months to the 12,000 sqm shopping precinct, with a mix of high-profile national retailers including supermarkets, fitness centres, child-care and cinema providers expected to be secured on long-term leases.
Ferny Grove is considered an ‘end of line’ rail station catering for more than 5,000 passengers per day transiting through the transport hub.
