The 2032 Olympics will catapult south-east Queensland onto the world stage, but there’s a long way to go before the region will be ready to meet the demands of hosting the Games. The whole city (and some parts of the state) will be undergoing massive reconstruction projects to get everything – from accommodation, to transport infrastructure, and yes, the Olympic venues themselves – ready to go by the time 2032 hits.
The 2032 Olympic master plan includes three main hubs in the state’s south-east corner, which will host 28 sports split across them. There will be 21 venues in Brisbane, seven on the Gold Coast and four on the Sunshine Coast. Football preliminary matches will also be played in Cairns, Townsville, Toowoomba, Sydney and Melbourne. While only a few of these venues will be brand new – and a number will be temporary structures – all of the areas around them will be getting revitalised. This will be attracting both property developers and buyers over the next few years, turning these locations into hotspots for growth.
If you’re planning on getting in on the action early though, picking the right area and project might seem a little daunting. We’ve bought together five of the best projects in Olympic growth areas for you below:
One of the key areas set to be transformed by Brisbane’s latest string of infrastructure projects is Woolloongabba. With the Cross River Rail project currently underway and the redevelopment of the Gabba precinct scheduled to begin within the next few years, Woolloongabba is expected to reap the benefits. The new Gabba Stadium will feature a sprawling new plaza level and parklands as well as a state of the art “media halo”. The Gabba will be the jewel in Brisbane’s Olympic crown, hosting the athletics as well as the opening and closing ceremonies. The stadium is due for a $1 billion rebuild that will increase its capacity to 50,000 spectators.
Our top pick for the area is one of the most unique projects in all of Australia – and we really do not say that lightly! The Silk development is offering residents something that Olympic fans won’t want to miss out on: seats in the stadium, without being in the stadium itself.
With Silk One almost completely sold out, and the last two buildings – known as Silk Lane – just about to hit the market, now is the time to buy into this master-planned project. The Silk development gives you the opportunity to view some of the best events at the 2032 Olympics from the comfort of your own home – and this isn’t an exaggeration. Silk One offers a truly unique offering in the Australian apartment market because it gives residents something you can’t get anywhere else in the country: box seat views of The Gabba, without being inside the iconic stadium. There’s no doubt in our minds that you’ll be the most popular friend once 2032 rolls around if you buy into this incredible development.
Just like Silk One, South City Square is capitalising on the redevelopment of Woolloongabba with its location on Logan Road. This $600 million project will provide apartments for around 2,500 people upon completion and features commercial and retail offerings as well. With this project, the focus on lifestyle is clear as Woolloongabba offers an area that’s a hop, skip and a jump away from the city, yet retains its suburban charms. Several of the stages in South City Square are currently completed and are ready to move in now, with future stages still under development.
These apartments might not be in Woolloongabba proper, but with the new bridge that will connect this development to the south side of the river, the stadium is only a hop, skip and jump away. Queen’s Wharf Residences is the residential arm of the palatial Queen’s Wharf development. Once complete, the apartments will be connected to 40,000 sqm of retail and dining options, and will be the tallest building in the precinct.
The Roma Street area is long overdue for some revitalisation, and the promise of the 2032 Olympics is bringing this to fruition. The Brisbane Live Arena is a proposed 17,000-seat sports and entertainment venue to be built in the heart of the city – above the new Roma Street underground train station. The arena is expected to be the home of the swimming and water polo events at the Olympics. The project is already attracting major developments to the surrounding area, with Griffith University currently in talks with the Queensland Government to build a new 55-storey campus within the hub area. The new campus would become home to the university’s business, law and I.T. schools, and will also have a number of levels devoted to student accommodation. And if you’re not mad keen about being in the heart of the city, the nearby suburb of Bowen Hills is our pick – you’re close enough to all of the action at the new arena, and walking distance from the Brisbane Showgrounds (which is where you can head for the Equestrian events in 2032) and the ever-popular events held there, such as the annual Ekka show and festival. Furthermore, Bowen Hills is becoming a bit of a hotspot for health companies, particularly with the recent opening of the Bowen Hills Health Precinct on Thompson Street.
For investors looking into this area, it’s clear that both before and after the games there will be a number of opportunities due to the proposed developments. Here’s our picks:
Panorama is a new apartment project sitting just two kilometres outside of the Brisbane CBD. The one and two-bedroom apartments are spread across 27 levels, and residents have access to two levels of residents-only facilities, including a resort-style pool, BBQ area, and a cinema, amongst other things.
While the South Bank Piazza already exists, the area is set to get an update over the coming years to get it ready to host Basketball (South Bank Piazza), Table Tennis, Fencing Taekwondo, Badminton (the Convention and Exhibition Centre) and Archery (Culture Forecourt) events during the 2032 Olympics. This area is our pick if you want to buy into an area that already has a significant amount of infrastructure already existing, and a thriving nightlife. If you’re a foodie, this is also the place to be, because South Bank is well-known for being home to some of Brisbane’s funkiest restaurants, and the ever-popular South Bank Markets on Friday and Saturday evenings.
Atlas South Brisbane is a new apartment project sitting inside one of the best suburbs for lovers of the arts, good food, and those who enjoy having great lifestyle amenities close by. The one, two and three-bedroom apartments of the project are ideal for professionals, first home buyers and investors, and there is a good mix of all of these in Stage One of the project. Stage Two, which was released last month to the market, is exclusively made up of one and two-bedroom apartments, and all of these include features which make them ideal for enjoying Brisbane year-round. This project sits just a block away from all of the action where the games will take place, making it ideal for those who want to be able to get around quickly.