Leighton Properties | ICON Ipswich unveiled as work commences on the $1 billion revitalisation of Ipswich CBD

HQ wins Development of the Year AwardPrevious

Managing Director's Message May 2011Next

Dec

7 ICON Ipswich unveiled as work commences on the $1 billion revitalisation of Ipswich CBD

Andrew Borger 7 Dec 2011

Ipswich made the history books today when work officially commenced on one of Australia’s largest regional urban renewal projects – the $1 billon revitalisation of Ipswich CBD.

The landmark project, unveiled as ICON Ipswich, will span four city blocks and deliver approximately 170,000 square metres of master planned commercial, retail, residential and public space to deliver a ‘new generation’ city centre.

The first stage of the development by Ipswich City Properties and Leighton Properties is expected to create up to 300 construction jobs over the next two years and breathe new life into the city’s retail heart.

Ipswich Mayor Paul Pisasale said the commencement of the first stage of construction signalled the beginning of an exciting transformation of the Ipswich city centre.

“After years of planning and consultation, Ipswich is on track to regain its former glory as a vibrant retail and economic hub,” Mr Pisasale said.

“When fire destroyed the Reid department store in 1985, it had a deep and long-lasting impact on the retail heart of Ipswich and its relationship with the community.

“The billion-dollar revitalisation of the city centre will redefine our city and become a symbol of pride for the community, not just for this generation, but for generations to come. It will also act as a catalyst for continued economic growth, creating jobs through construction and breathing new life into the retail sector through the thousands of workers and residents located in the precinct.”

The first stage of construction comprises a nine-story, A-Grade commercial tower on the corner of Brisbane and Bell Streets.

Chairman of Ipswich City Properties, Paul Tully, said future stages of ICON Ipswich will deliver additional commercial towers, residential towers, a 60,000 square metre regional shopping centre with cinemas and community amenities, including a public library and car parking.

“ICON Ipswich will be the largest and most significant project of its kind in the region and will become the centre of Ipswich and the Western Heartland,” Mr Tully said.

“Ipswich already functions as the main commercial hub for Brisbane’s western corridor – similar to how Parramatta was to Sydney some years ago.

“Upon completion, ICON Ipswich will deliver the ultimate mix of retail, commercial, residential and community amenity – all integrated seamlessly to offer a new way to live, work, shop and play in the heart of the city.”

Leighton Properties Managing Director, Mark Gray, said the project represented a ‘once-in-a-generation’ opportunity to transform the city of Ipswich.

“Once completed, the ICON Ipswich master plan will be an iconic destination that will restore the CBD as the preeminent commercial, civic and cultural centre for Ipswich and the Western Heartland,” Mr Gray said.

“Our vision already has the confidence of the private and government sectors, with the first commercial tower fully-leased to the State Government and pre-sold to Cromwell Property Group for $93 million.

“This is the largest CBD renewal project in Australia in more than a decade and will draw upon Leighton Properties’ extensive experience in urban renewal and mixed-use precinct developments.”

Builders have been appointed to construct the first commercial tower, which will also deliver the CBD’s first Green Star rated building.

*Pictured above: Bradley Norris, Development Manager, Leighton Properties; Mark Gray, Managing Director, Leighton Properties; Carl Wulff, Ipswich City Council; Jim Lindsay, Ipswich City Council.