- Developer Honeycombes to deliver a $140m mixed-use development at Ferny Gove
- DA approval received from Brisbane City Council and SARA
- Includes 12,000sqm retail centre and The Fernery to feature 82 luxury apartments
Plans for a mixed-use development at Ferny Grove – an outer Brisbane suburb – have been announced following development application approval from the Brisbane City Council and SARA.
The $140 million project will feature a 12,000sqm retail centre and 82 luxury apartments at The Fernery.
Honeycombes Property Group, a Townsville-based company with historical links in Brisbane, was awarded preferred tender status back in 2017 and will undertake the project with MaxCap as a joint venture capital partner.
Construction is set to start soon.
As part of the operational and design planning process, an extensive community consultation program was in place which involved working with all levels of government.
Peter Honeycombe, Managing Director of the Group, remarked that the community feedback assisted in refining the development, which included more than twelve different public forms to door-knocking hundreds of residences neighbouring the project.
Using this feedback he believes the development will have a strong neighbourly vibe.
“The development will breathe new life into the suburb, creating 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,” said Mr Honeycombe.
With the development adjoining Ferny Grove Station, the area is set to be transformed into a Transit Orientated Development (TOD), which has resulted in Honeycombe building a strong relationship with the Queensland Government. This has resulted in funding to build a car park for the terminus railway station – which caters for more than 5,000 passengers per day.
“We have built a very strong relationship with the Queensland State Government during the formation of the development…without the Queensland Government contribution of $9 million and the Federal Government’s $11 million in funding contributions for additional park ‘n’ ride spaces planned for the project could not have been achieved”.
Major tenants are expected to be announced in the not too soon future with the joint ventures partners in the final stages of securing a head contractor.
Over 25 years, Honeycombes has a track record development portfolio totalling over $2 billion.