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HONEYCOMBES Property Group has bought the second-largest land holding in Townsville’s CBD with the redevelopment to complement the city’s Priority Development Area and new stadium.
The old Aurizon rail yards will be turned into a commercial mecca with Honeycombes to develop a masterplan over the next three to five years.
The 19.3ha parcel of land will also be leased to contractors and businesses that require more space for equipment while building the CBD stadium between now and 2020.
Honeycombes managing director Peter Honeycombe said he could not disclose the price of the land. However, he was eager to see the area used to generate jobs.
“When I first came to the city we had the TAFE and a hospital and we’ve now seen the employment sector leave the city,” he said.
“It (land) might be used for allied health or other entertainment precincts.”
The developer has already been fielding interest from national businesses to use the land.
Mr Honeycombe said it could take up to five years to “get the masterplan right”.
“This will involve community consultation,” he said.
“The location of the site will ultimately be of significant benefit to the end users, particularly those working and living within Townsville’s city centre. Having the south yards site in our portfolio, along with Central, will now enable us to complement the activity from the stadium and the PDA from both the north and south sides.
“It is an exciting time to be developing in Townsville.”
Aurizon managing director and chief executive officer Andrew Harding said he was delighted to work with Honeycombes to redevelop the land.
“Aurizon has long been committed to ensuring that the former rail site supports the future development of the Townsville Stadium and contributes to economic development in the surrounding community,” he said.
“The initiative also reflects Aurizon’s commitment to assist with regional renewal in key operational areas for the company where Aurizon employees live and work.
“Following our relocation and investment in a consolidated rail and freight facility at Stuart, we have worked hard to ensure that an experienced, local development partner can rejuvenate the site for the benefit of Townsville’s community.”
Mr Harding said the opportunity to consolidate the business to the Stuart facility opened up the CBD space.
It comes after Honeycombes announced they were developing the $50 million ferry terminal on Ross Creek with SeaLink.
The land will be the 13th project the property group has developed in the CBD, including 560 apartments and 14,000sq m of retail and office space.
This article first appeared on www.townsvillebulletin.com.au
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