Ipswich City Council

Media Release

Expressions of interest for Ipswich city centre shopping complex redevelopment

22 October 2009

A ONCE in a generation opportunity to redevelop the city heart of the Queensland city of Ipswich will move a step closer this week with a nationwide call for expressions of interest (EOI) from the private sector to redevelop Ipswich City Square shopping complex.

The centre was acquired by Ipswich City Properties Pty Ltd (ICP) in March this year. ICP is wholly owned by Ipswich City Council.

Chairman of Ipswich City Properties Pty Ltd Paul Tully said the project had the potential to exceed $1 billion and would be the biggest single redevelopment of Ipswich city heart since Reids department store was destroyed by fire in 1985.

"The ultimate plan is for the entire 3.4 hectares of prime Ipswich Central real estate to be transformed into a world class regional centre," he said.

"Advertisements placed in the national media this week call for expressions of interest to take on one of Australia's most exciting urban redevelopment projects.

"The land currently occupied by Ipswich City Square lends itself to apartment buildings, office towers, major retail, restaurant and entertainment precincts."

Paul Tully said the centre was also perfectly positioned for technology based businesses and was well serviced by current and future high speed broadband from several providers.

"Redevelopment plans also call for a 21st century approach to the provision of internet and computer networking connectivity," he said.

Director of ICP Paul Pisasale said Ipswich offered tremendous investment potential because the regional city had dodged the worst of the global financial crisis.

"We seemingly achieved the impossible by maintaining above average population growth and low unemployment throughout 2009.

"Going forward Ipswich is ideally positioned to become the major regional centre of the western corridor with the full backing of the state government's South East Queensland Regional Plan.

"Ipswich is making itself ready to accommodate rapid and sustainable population growth.

"The city will grow from the current 160,000 to 435,000 within the next 22 years.

"Ipswich is also fortunate to be serviced by electric rail directly below the city centre and is a major public transport transit centre for the region.

"The long term success of our city is assured because we have worked tirelessly to develop strong partnerships between all levels of government, business and the community.

"Major new commercial and industrial developments are also essential for providing new jobs close to where people live."

Paul Pisasale said $5 billion of public and private development was planned for Ipswich in the next five years.

Expressions of interest advertisements have been placed in the national press this week.

The EOI document can also be downloaded from http://www.ipswichcentrestrategy.com.au/

-ENDS-

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Last Updated 22 Oct 2009 |

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