ferny grove shops
Ferny Grove Central is due to be completed by August 2023. Image Supplied.
  • The transit-orientated devlopment will revolve around Ferny Grove train station
  • Will feature 12,000sqm of retail space
  • Construction will begin in June 2021

Broad Construction – a CIMIC Group company and a wholly-owned subsidiary of CPB Contractors – has been selected to deliver Brisbane’s Ferny Grove Central development by joint-venture partners Honeycombe Property Group and MaxCap Group.

Last month on The Property Tribune, we reported on development applications being approved by the Brisbane City Council for the mixed-use development in Ferny Grove, an outer suburb of Brisbane.

The $140 million transit-orientated construction project involves redeveloping the Ferny Grove train station commuter car park into a residential hub featuring 82 luxury apartments along with a 12,000sqm retail and commercial hub.

Currently, the Ferny Grove Station has about 5,000 daily passengers. Additionally, the Queensland and Federal Governments provided about $20 million in funding to build additional park ’n’ ride spaces for the train station.

CPB Contractors is expected to generate revenue of around $100 million from the project.

Juan Santamaria, CIMIC Group’s Executive Chairman and CEO, said he is glad to be working with the joint-venturers on the outer Brisbane project.

“Backed by CPB Contractors, Broad Construction is our specialist building company and is delivering a range of high-quality projects, across Queensland and Western Australia. We are very pleased to be working with the Honeycombes Property Group and the MaxCap Group on this landmark urban redevelopment.”

Juna Santamaria, CIMIC Group CEO

Jason Spears, CPB Contractors’ Managing Director, emphasised the project’s job prospects to the local community.

“The experience of our team means that we have the capability to provide safe and certain delivery to our clients. Broad’s inclusive procurement strategies will also provide opportunities for local workers and businesses.”

Jason Spears, CPB Contractors MD

Honeycombes Property Group’s Managing Director, Peter Honeycombe, also welcomed the new partner for the project.

“Broad Construction is the perfect partner for us to deliver Ferny Grove Central, with a depth of experience and a commitment to quality that is second to none,”

“As a landmark project for Brisbane’s North West that will define the urban landscape for decades to come, we’re pleased to bring this vital urban renewal project to fruition in collaboration that has a proven record of project success over the past 30 years.”

Peter Honeycombe, Honeycombes Property Group’s MD

Construction will start at the end of this financial year in June 2021 with a completion date for August 2023.

You May Also Like

Growing market: childcare facilities investment developing

Recent changes to Child Care Package subsidies, as well as govt support of childcare as an essential service, will be another growth driver.

West Perth’s CBD leading the move towards growing employment nodes

Markets which were not hampered with the same level of lockdown, such as Brisbane and Perth CBDs, have improved their occupancy.

WA Government to boost development with $80M fund and DAP delay cap

Premier McGowan announced 120-day state govt DAP caps and opt-ins for local govt, $80M in infrastructure funding, and green light for smaller multi-dwelling developments of $2M.

Experts Corner by The Property Tribune

Ko & NPA partner to launch several co-owned luxury properties at Mermaid Beach, Gold Coast

Ko's partnership with NPA Projects provides more opportunities to co-own off-the-plan holiday residences, including exclusive Gold Coast properties

Continue reading

Top Articles

Expert tips on how to be a successful property investor

Property expert and buyer's agent, Lloyd Edge, shares his insights.

Australian commercial property update: Industrial and tourism assets lead the pack in trying times

Commercial assets have faced volatility recently, driven by financing changes and demand fluctuations from institutions and funds.

WA has emerged as a property investment hub, and why that's a good thing

Eastern investors chase Perth's affordability, doubling the distance between home and investment in 2023, reveals MCG research.