- 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.