Central Business District
A thriving, modern urban landscape framed by lush subtropical parklands, the Central Business District is Brisbane’s premier commercial, retail and entertainment centre. Home to more than 4000 businesses, five vibrant shopping precincts, over 1000 local and international retailers, more than 200 restaurants and bars, and an extensive program of events, the CBD is the hub of Brisbane’s continuing growth and development as Australia’s New World City (Source: Brisbane Economic Development Agency).
The CBD is a location of choice for Brisbane’s professional services, businesses and a destination for shopping, dining, recreation, leisure and entertainment. It is expected to experience continued growth and development as Brisbane’s principal activity centre. The recently released City Centre Master Plan 2014 sets the vision and framework to continue to make Brisbane’s CBD open for business and investment. Future growth expectations will see the CBD expand into inner-city precincts with an extra 50 new buildings to accommodate about 56,000 new residents and 160,000 additional workers (Source: Brisbane City Council, Lord Mayor’s Brisbane Economic Snapshot, First Quarter 2014).
To enable the CBD’s continued growth, the City Centre Master Plan focuses on raising development potential, while integrating the inner city with the CBD. For example, the former Supreme and District Courts site on George St is being redeveloped into three new buildings. Demolition is underway for construction to start on the $800 million development that will consist of 428 residential units, 305 five-star hotel rooms, about 7700sqm of retail and restaurant space, and more than 58,000sqm of office space (Source: Brisbane Development, ‘300 George Street – Brisbane’s largest integrated CBD development’, November 2013).
This is the largest single development in the CBD and is expected to generate up to 5000 construction jobs until the project is completed in 2018 (Source: The Urban Developer, BCC to give the go ahead to $800m George St redevelopment in Brisbane’s CBD, December 2013). This, and other projects either planned or underway, will enhance the CBD for development and investment, supporting Brisbane’s reputation as Australia’s new world city.
To discover more information on the Central Business District, please click here to visit the Brisbane City Council website, or contact the Investment Attraction Team.