Ferny Grove Central begins construction with Goodstart on board as a tenant
Construction has begun on the Ferny Grove Central project, a $140 million mixed-use development in Queensland, with Goodstart Early Learning on board as an early tenant.
Adjoining the Ferny Grove Railway Station, the Transport Oriented Developed (TOD) is due to open in late 2023 and will combine apartment living, an entertainment precinct, a 12,000-square-metre retail centre and a 1,400-spot multi-level parking facility for commuters.
The build contract for the project – a joint venture between Honeycombes Property Group and real estate investment firm MaxCap Group – was handed to Broad Construction, a Perth-based subsidiary of CPB Contractors and part of CIMIC Group (ASX: CIM), in March this year.
CPB has been involved with a number of high-profile works in Queensland, including for the Brisbane State High School, the Brisbane City retail and commercial developments at 155 and 170 Queen Street Mall, and the Kingaroy Hospital.
Commenting on the commencement of construction in Business News Australia Honeycombes Property Group managing director Peter Honeycombe said that starting the project just days after the announcement of Brisbane securing the Olympics for 2032 made the milestone “even sweeter.”
“While the Ferny Grove Central project has been seven years in the planning, it is immensely rewarding to finally get to the starting line and to start construction on the project today,” he added.
The project has received what Mr Honeycombe called “a high level of unprecedented interest” from the local market, highlighting the level of demand for both residential apartments and retail opportunities and with construction now commencing we believe that will quickly accelerate interest in both sectors.
Construction of Ferny Grove Central is expected to take 28 months. To read the original coverage of this story, please see here.