Council set to sign $40 million CBD deal
IPSWICH City Council is set to sign a $40 million contract with Hutchinson Builders to reconstruct the retail, entertainment and commercial premises of the Nicholas St redevelopment.
The retail project is part of works to revitalise the Ipswich CBD around Nicholas St.
A combination of council-owned assets makes up the entire project site, inter-mixed with existing and heritage commercial buildings as well as the Icon Tower built in 2013.
The five council-owned retail buildings across the Nicholas St precinct are: Metro A (Bell St link), Metro B (2 Bell St), Eats (food and beverage tenancies on the western side of Nicholas St) Venue (entertainment building on the western side of Nicholas St) and the Commonwealth Hotel (reconstruction of this building is separate to the retail project).
Hutchinson Builders were previously awarded the $140 million council contract in June 2019 to deliver the civic project, which includes a new council administration building, library and civic space.
The council had looked at selling its retail assets in the CBD but there were "few interested buyers" in their current state, so it was decided to refurbish the retail premises, lease them to new businesses in an effort to bring Ipswich Central back to life and then sell them on later down the track.