Coorparoo’s busy intersection of Old Cleveland Road and Cavendish Road has always been a community hub and vibrant meeting place for Coorparoo locals. Over the years this junction has seen society march forward and watched Brisbane grow and progress beyond its ‘small country town’ tag. Once home to trams and busy local shoppers, the area now thrives on small local business and professional services, along with foot traffic from the densely populated surrounding areas.
Coorparoo’s latest reinvention will usher in a new chapter for the changing fortunes of the iconic Myer building. In recent years, the building and its rotating retail tenants have fell on less fortunate times than those enjoyed during the building’s department store hey-days.
Coorparoo Square, a partnership project between Australand and Honeycombes Property Group, will transform the currently vacant block into a thriving precinct of residential, retail, dining and cinemas. Also on the cards for the new development are two swimming pools, green spaces and parking spaces for more than 600 cars.
A confirmed tenant of the new development is the boutique cinema group Dendy, who will be opening a ten-screen cinema in the new hub. Dendy, like other premium retailers joining the project, see their new venue in Coorparoo as a natural choice given the scope of the landmark development being undertaken on the old Myer site.
Approval for the Coorparoo Square project was finalised in October 2014, and demolition and ensuing construction will begin this month. Coorparoo Square offers a significant boost to an area already buoyed by continuously strong residential growth, and will give residents of the surrounding areas an excellent recreation option without having to travel further afield to Carindale or Brisbane’s CBD.
Other areas that have seen similar developments in the past include Hamilton with its Portside development and James Street in New Farm. Both of these suburbs are highly sought-after by investors and owner-occupiers alike for their proximity to entertainment and dining precincts.
In addition to the vibrant retail and dining element, Coorparoo Square will produce more than 300 apartments in a blend of floorplans from one to three bedrooms. While the project will be developed in stages, residents in Coorparoo and nearby Camp Hill and Greenslopes can look forward to increased options for entertainment locally, as well as an inevitable hike in buyer interest within the area.
This will be a hugely significant project for the inner south-eastern suburbs, and will be a great win for the community of Coorparoo.