The Brisbane Inner City Investment Prospectus

Second half 2013

Invest in South Brisbane

Welcome

South Brisbane statistical area level 2 (SA2) has been identified as a key investment location within Brisbane Inner City. This supplement provides a snapshot of key economic and investment indicators for South Brisbane and has been produced as part of the Brisbane Inner City Investment Prospectus.

South Brisbane is located on the southern bank of the Brisbane River, directly connected to Brisbane’s Central Business District (CBD) by the Victoria, Kurilpa and Goodwill bridges. It is one of Brisbane’s oldest suburbs but today has a very modern face as home to the city’s internationally-recognised cultural district and an eclectic, urban community.

The area is well connected and serviced by various forms of public transport. There are two train stations, three busway stations that are part of the South East Busway, as well as CityCat ferry services that link South Brisbane with other riverside locations. Active transport is also well catered for with the Goodwill, Victoria and Kurilpa bridges linking to the CBD and an extensive network of riverside pedestrian and bike paths.

South Brisbane has a rich industrial history as a bustling river port and dry dock. Regeneration of the near-derelict port began when the site was selected as the location of World Expo ‘88. South Bank Parklands was built on the former Expo site.

The area is home to the Brisbane Convention and Exhibition Centre, Queensland Conservatorium, Queensland Maritime Museum, Queensland Art Gallery and Gallery of Modern Art (GOMA), Queensland Performing Arts Centre along with the South Bank Parklands and Cultural Forecourt.

Bustling with restaurants, cafes, shops and commercial and residential buildings, South Brisbane has emerged as a vibrant and desirable riverside location offering high density, modern living with excellent access to the city centre.

There are 1231 registered businesses in South Brisbane according to data from the Australian Bureau of Statistics (ABS).

South Brisbane’s population can be characterised as well-educated, high income earners, mainly consisting of families with no children that reside in apartment dwellings.

Future growth and development is evident with a number of residential and non-residential development and building approvals being granted for the area.

Location

The South Brisbane Riverside Neighbourhood Plan came into effect on 15 April 2011. The plan is now a legal document and forms part of the Brisbane City Plan 2000.

Neighbourhood plans can help facilitate economic prosperity, protect character development, provide for open space, include standards for new development and reflect improved infrastructure such as new transport routes. The South Brisbane Riverside Neighbourhood Plan sets out how land can be used and developed over time and seeks to:

• retain the village character of Boundary Street

• increase mixed-use development in the Kurilpa precinct

• improve pedestrian movement and connections

• create new public spaces

• support new and existing public transport.

South Brisbane can be divided into the key precincts of South Brisbane Reach, Musgrave, Kurilpa, Riverside North and Mater Hill.

The South Brisbane Reach precinct contains some of Brisbane’s key destinations such as the cultural precinct, the South Bank entertainment precinct and the education precinct. It also includes key public transport stations.

The Musgrave precinct is a diverse area with a mix of high-density residential buildings, office buildings that offer ground floor shops and retail space, and key worker and student accommodation.

The Kurilpa precinct includes key links to the northern side of the Brisbane River via four bridges – the William Jolly Bridge, the Go Between Bridge, the Merivale rail bridge and the Kurilpa pedestrian and bicycle bridge. The precinct is characterised as high density mixed use and includes the Parmalat industrial site.

The Riverside North precinct is a transition zone from the high-density development of the Kurilpa precinct to the north and lowerdensity buildings to the south. The precinct also has pockets of industrial use.

Mater Hill precinct contains the Mater Hospital with major hospital and medical facilities as well as ancillary uses including administration, education and research facilities. In addition, the precinct includes supporting uses such as short-term accommodation, office and retail activities, and the Mater Hill busway station.

Population and growth projections

South Brisbane will see significant population growth over the next 20 years. The population in 2011 was 5194 people and is forecast to increase to 15,313 people by 2031 (see Figure 1).

The median age for residents of South Brisbane in 2011 was 30 years, which is below the Greater Brisbane (greater capital city statistical area) median age of 35.1 years. The age profile of South Brisbane is illustrated in Figure 2.

The population of South Brisbane is characterised as mainly couple families with no children (see Figure 3) and almost all reside in apartments. Almost two-thirds of occupied private dwellings recorded on Census night 2011 in South Brisbane are rented, which is significantly higher than the proportion across Greater Brisbane.

Residents of South Brisbane are well educated, with 68% of the population aged 15 years and over holding post-school qualifications, with more than half of this group holding a bachelor degree or higher.

In the 2011 Census, 2391 residents (44.1%) of South Brisbane indicated they were born overseas. Seventy-two per cent of residents who indicated they were born overseas were born in non-English-speaking countries. Almost two-thirds of those born overseas indicated they speak a language other than English at home, which is a significantly higher proportion than across Greater Brisbane. However, the majority of this group indicated they speak English very well or well.

The residents of South Brisbane are employed across a wide variety of occupations. The top-three occupations identified in the 2011 Census were professionals, managers, and clerical and administrative workers. The occupation profile of South Brisbane is illustrated in Figure 4.

Business information

In 2011, 1231 businesses were registered in South Brisbane. When classified by employment size, six businesses were large and 77 medium. In comparison to the average across Greater Brisbane, the area has a slightly higher concentration of medium and large businesses based on employment size.

The business count for South Brisbane by turnover range notes that 20% of the businesses in the area have a turnover greater than $500,000 and less than $2 million, compared with 13% for Greater Brisbane. Ten per cent of businesses have a turnover of $2 million or more, in comparison to almost 6% for Greater Brisbane. The business counts for South Brisbane by employment size and turnover range are illustrated in Figure 5 and Figure 6.

The top-ten industries by business count for employing businesses in South Brisbane are illustrated below (see Figure 7).

Employment forecasts

Employment in South Brisbane in 2011 was 22,741 and is forecast to reach 46,448 people by 2031, a growth of 23,707 people (104.2%) from 2011.

The top-five employing industries in South Brisbane (see Figure 8) will contribute the majority of employment growth for the area. South Brisbane is also expected to see a shift away from employment in manufacturing as land use within the area changes.

Availability of skilled workers is important for the area. Workers in South Brisbane commute from various locations, the top-three locations that workers commute from are West End, Coorparoo and Annerley. The journey to work profile for South Brisbane is illustrated in Figure 9.

Building and development activity

In the 12 months ending 30 June 2013, new residential buildings approved in South Brisbane had a total value of $200.2 million.

The total value of non-residential building approvals in South Brisbane in the 12 months ending 30 June 2013 was $124.4 million.

There are a number of significant projects underway in South Brisbane including the Arena Apartments with 191 apartments, the 10-storey Fish Lane Apartments, and The Plaza development with 168 apartments on Manning Street.

Southpoint South Bank is also a new key project for the area, comprising of 42,000 square metres of commercial office space, 228 apartments, a boutique hotel and retail space.

The Queensland Children’s Hospital is also under construction in South Brisbane. The 12-storey building will provide a total floor space of 80,000 square metres and is due for completion in late 2014.

Growth in floor area

Available floor space in South Brisbane in 2011 was estimated to be over 1.2 million square metres and is expected to double by 2031 (see Table 1). A significant proportion of the growth is expected in the community purposes category that includes health, education and other community uses.

Table1 – Floor space forecasts South Brisbane, 2011-2031

South Brisbane / 2011 floor space estimate (m2) / 2016 floor space forecast (m2) / 2021 floor space forecast (m2) / 2026 Floor space forecast (m2) / 2031 Floor space forecast (m2)
Retail / 182,406 / 263,835 / 302,908 / 296,372 / 308,475
Commercial / 96,735 / 122,578 / 177,117 / 204,558 / 220,920
Industrial / 172,288 / 234,597 / 241,592 / 218,398 / 230,862
Community purpose / 761,983 / 945,396 / 1,299,286 / 1,467,134 / 1,628,922
Other / 12,185 / 15,112 / 16,074 / 15,726 / 15,868
Total / 1,225,597 / 1,581,518 / 2,036,977 / 2,202,188 / 2,405,047

Source: Derived from Queensland Government, Department of Transport and Main Roads Employment Projections converted to floor space by Brisbane City Council.

Publication information

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Published by Brisbane City Council, GPO Box 1434, Brisbane QLD 4001

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