Major new office build to plug shortage in Ipswich
IPSWICH is charging towards big-city status, and a major new CBD project is at the centre of the surge.
A bold proposal known as East Street Central is set to deliver nearly 5000 square metres of new office space across three buildings, right in the heart of the city, a move developers say will help plug a critical shortage and supercharge the local economy.
With vacancy rates sitting at just 3 to 5 per cent – among the lowest in the country – the pressure is on to build, and fast. Allamanni Developments Acquisitions Manager Irina Monnier said the project is stepping in at exactly the right time.
“Ipswich is Queensland’s fastest growing city, with its population projected to exceed 456,000 by 2041,” Ms Monnier said.
“That growth is already driving increased demand for modern, well-located workspaces.
“We actually see Ipswich at a similar stage to where Parramatta was around 20 years ago – a city on the cusp of
significant transformation into a major economic centre.”
Locked in for the high-profile corner of East and Brisbane Streets, the development is designed to capitalise on its unbeatable location within walking distance of the hospital, courts, council chambers and rail.
“It offers excellent visibility and is within walking distance of major civic and health services including the hospital, council chambers, courts and rail connections,” Ms Monnier said.
“It’s that concentration of services that makes it particularly attractive for commercial tenants.”
After two years of planning, the project is now edging closer to a formal development application following what has been described as a smooth run with Ipswich City Council.
At the heart of the push is a simple problem. Ipswich is running out of quality office space.
“This signals a clear undersupply of premium office accommodation,” Ms Monnier said.
“There’s simply nothing of that quality and scale currently available in the CBD, and that’s the gap East Street Central is designed to fill.”
The development will blend modern office space with Ipswich’s historic character – including the restoration of a heritage-listed 1888 building designed by Francis Drummond Greville Stanley, which is already fully leased.
“It highlights both the demand for character spaces and the opportunity to successfully blend heritage with modern functionality,” Ms Monnier said.
The plan also includes a major overhaul of the six-level tower at 78 Brisbane St, with a new facade, energy-efficient upgrades, rooftop terrace, high-speed lifts and secure parking.
The project is expected to draw in professional services, government and healthcare tenants – boosting jobs, foot traffic and local business.
Ipswich Mayor Teresa Harding said the transformation of the CBD had already come a long way.
“Following a significant commitment from Council and the community,
Ipswich residents now have a city centre they can be proud of.
“This investment is also driving new economic opportunities for our city.”
With population booming and infrastructure improving, developers say Ipswich is only just getting started.
