Billion dollar plan for CBD

BIG PLANS: Paul Tully and Paul Pisasale overlooking Ipswich City Square.

Rob Williams/ Queensland Times

IPSWICH is about to see a project tipped to top $1 billion which will lead to the biggest transformation of the city's CBD in almost 25 years.

A nationwide press campaign is being launched today calling for major companies to redevelop Ipswich City Square shopping complex.

The centre was acquired in March by Ipswich City Properties (ICP), a company owned by Ipswich City Council.

ICP chairman Paul Tully said the project would be the biggest single redevelopment of Ipswich's heart since Reids department store was destroyed by fire in 1985.

“The land currently occupied by Ipswich City Square lends itself to apartment buildings, office towers, major retail, restaurant and entertainment precincts,” he said.

“This is a vision for both daytime and night time. It won't just be commercial offices that close at the end of the day; we want it to be vibrant both day and night.”

“It will be an ongoing development of the whole centre,” he said.

“They might have partners; it might be a joint venture. They might have a window of 10 or 15 years creating residential, commercial, retail, high-rise.”

The ultimate plan was for the whole 3.4 hectares of shopping complex to be transformed into a world-class regional centre.

“Advertisements in the national media call for expressions of interest to take on one of Australia's most exciting urban redevelopment projects,” he said.

ICP director Paul Pisasale said the city square redevelopment was part of $5 billion of public and private development planned for Ipswich in the next five years.

“We're planning some fantastic things. We're just asking people to be patient,” he said.

“Rome wasn't built in a day.

“The centre had hit rock bottom and we had to be the catalyst, the driving force for change.

“We don't have the billion dollars so we're going to bring in some real grunt, people with expertise.

“Some of the announcements you will hear between now and March, the major companies have to go to their boards but they will happen.”

Ipswich CBD Traders Advisory Group chairman Bob Slater said he was positive about City Square's future but anxious for change.

“We need to get to the next stage, we need to find out what's going to happen to the centre,” said Mr Slater, who has been a tenant for 21 years.

“The Property Council of Queensland recently held one of its few meetings outside Brisbane in Ipswich and I was amazed by the level of interest in this project.

“Thiess and all the other big players were there. It really showcased Ipswich well.

“The future's bright, I just want to get it right this time.”

Tony and Jan Wright, who run Nicholas Street Newsagency in the Ipswich City Square, are even keener for improvements.

As the name suggests Mr and Mrs Wright had the newsagency before the mall was built, when it was still Nicholas Street.

“It was very busy then. Now we're not making enough to cover the time we're putting in,” Mr Wright said.

“We'd certainly look forward to some more development preferably with major retailers.

“If a major retailer moved in it would attract other retailers. We need foot traffic because we're selling low-margin items.”

Mrs Wright said she and her husband had endured the Reids fire, building the mall and the advent of Riverlink.

“We're still hanging on but we need to retire some time. I'm 70 next year,” Mrs Wright said.

“I think it will come. I'm sure it will.”