Breakfast Creek Road Awaits Building Approval As Joint Venture Snatches Last Precinct Site

It was the last remaining office development site within the established ‘Gasworks’ precinct, however, 11 Breakfast Creek Road is now well and truly off the market and currently awaiting approval for a new development. An application was recently submitted under a joint venture between Charter Hall Prime Office Fund (CPOF) and John Holland to create […]

It was the last remaining office development site within the established ‘Gasworks’ precinct, however, 11 Breakfast Creek Road is now well and truly off the market and currently awaiting approval for a new development.

An application was recently submitted under a joint venture between Charter Hall Prime Office Fund (CPOF) and John Holland to create a commercial building, to be called 11BCR@GASWORKS, that would take the title of signature gateway building to the Newstead Riverpark precinct.

The Newstead Riverpark precinct, or the ‘Gasworks’ precinct, is a flourishing business and lifestyle community only 1.7 kilometres from the Brisbane CBD. The property is a 3,254 square metre vacant site located at the entrance of the precinct, on the corner of Breakfast Creek Road and Skyring Terrace, and adjoins CPOF’s 50% interest in 100 Skyring Terrace, home to Bank of Queensland.

The site already has an existing Development Approval for a 14 level A-Grade office tower, with ground floor retail, 188 basement car parking bays and end of trip facilities.

Because of the existing approvals, Charter Hall and John Holland have had to propose planning amendments to 11BCR@GASWORKS for a multi-tenanted development, as the approved DA was for an owner-occupier tenant. The proposed amendments include:

  • Typical tower footprint reduced from 2350m2 approved to 2230m2
  • Proposed ground floor area (GFA) of 29,451m2 from previously approved GFA of 29,352m2
  • Building reduced by one level
  • The corner of the proposed tower projects towards the intersection of Breakfast Creek Road + Skyring Terrace to address the street
  • Due to the scale of the intersection, adjoining buildings are set back 30 to 100m from the proposed tower
  • The proposed tower form is defined as a “re-entrant“ to address the Gasometer + improve internal planning + uses.

Originally approved plans compared to the new application.

11 Breakfast Creek Road was originally owned by Tatts Group, who were planning to use the site for a new business headquarters. However, their plans were scrapped, leaving the development opportunity open for Charter Hall and John Holland to purchase for $16.5 million.

Brisbane-based Architectural firm BlightRayner was responsible for the building’s design, which features two ground floor retail tenancies, while two floors of the tower have been pre-committed to make up John Holland’s Queensland headquarters.

Construction of the tower is anticipated to start in the first half of 2017 pending securing enough leasing pre-commitments.

Images courtesy BlightRayner.

To read full article, click here.

Source:  The Urban Developer

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