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Queensland Premier Campbell Newman has launched stage two of the landmark historic $2.9 billion Brisbane Showgrounds regeneration project which includes construction of the vibrant King Street precinct, a four star international hotel, 40 retail and food outlets and 408 new residences.

Currently under construction, and due for completion in 2016, the 300 metre King Street will link St Paul’s Terrace and Gregory Terrace with Brisbane’s newest inner city hub.

Premier Newman said more than 1,400 jobs would be created by stage two with the project generating more than $300 million a year for the Queensland economy.

The RNA Showgrounds redevelopment is one of the largest mixed-use, urban regeneration projects in Australia and once completed will be the place where 15,000 people will live, work and play.

Premier Newman explained “not only will this create more than 1,000 jobs, but it will provide a significant boost to the economy both now and into the future.

“This is one of Brisbane’s best known landmarks and it’s exciting to see such a quality transformation.”

Now in its fourth year, the RNA/Brisbane Showgrounds regeneration project commenced in 2010 with major stage one works including construction of the Royal International Convention Centre, the first of the residential apartments, The Green and commercial tower Kings Gate One, which are set for completion mid next year. 

RNA Chief Executive Brendan Christou said stage two represented a game-changing milestone for the iconic 139 year-old showgrounds, which attracts about a million visitors a year and is home of the Royal Queensland Show (Ekka).

Christou stated “this once in a lifetime legacy building project will ensure the showgrounds become a world class events and lifestyle destination precinct, while at the same time preserving the site’s heritage for future generations to enjoy.

“King Street, the hotel, the residential, retail and commercial offerings will form the central point of the regeneration where the best retail, events, entertainment and commerce will combine.”

Christou said one of the key aims of the regeneration was to open the showgrounds up for the public to enjoy year round, a goal realised by the innovative King Street precinct, adding “King Street will transform the showgrounds by opening the site up and connecting it to surrounding residents and businesses, the hospital precinct and Fortitude Valley.”

Lend Lease Project Director Andrew Hay said Lend Lease was committed to delivering King Street with outstanding public facilities that reference the site’s heritage for the community that live within it, as well as visitors.

Hay added “King Street will bring creative, passionate traders together with familiar retailers who collectively meet the everyday needs of residents, office workers and visitors.”

A key feature of King Street will be the new $50 million 208 room four star Rydges international hotel, developed by a consortium, comprising of Phillip Wolanski’s Denwol Group of Sydney and Stewart Baron’s Baron Corporation of Melbourne.

King Street will be a staged delivery with the first two blocks and up to 15 retail outlets delivered with completion of commercial tower, Kings Gate One and the first residential apartments, The Green, by mid-2015.

For more information go to www.rna.org.au/redevelopment.aspx

18th July 2014 - HISTORIC INVESTMENT PRECEDES 2014 EKKA

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