Maha’s place, Springfield, is becoming an intergenerational city
‘FOUNDING father’ Maha Sinnathamby wants to be in the front row of what’s happening in his wildly successful masterplanned community of Springfield. Well now he has his ticket.
QLD Business
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MAHA Sinnathamby calls it Springfield’s own “tower of power”.
After paying $17 million for Springfield Tower through an investment vehicle, the co- founder and chairman of the Springfield Land Corporation said owning the landmark 10-storey building gives certainty to the direction of the emerging city.
“We bought it because it is our headquarters. We are in the front row of what’s happening in Springfield,” he said. “It’s the tower of power in the western suburbs.”
The building at 145 Sinnathamby Boulevard was sold on behalf of PPB Advisory as appointed Receivers and Managers by JLL’s Christian Sandstrom and Sam Byrne.
It was constructed by Hutchinson Builders in 2008 and at the time of sale the building’s 9459sq m of office and retail space was 50 per cent leased with major tenants including Springfield Land Corporation, The Salvation Army, Department of Housing and Public Works and Northrop Grumman.
Mr Sinnathamby said he was confident it will be fully leased within 12 months.
He said the development of Springfield was “now moving into full gear” and more than $600 million is being spent a year.
So far more than $11.7 billion has been invested in the masterplanned city which focuses on its “community pillars” of education, information technology and health.
“Dormitory suburbs are no fun. They’re sterile. We are a city and people are moving here with no connection to Brisbane.”
This has helped the population grow to 37,000 over six suburbs with the eventual target of 105,000 by 2030.
With 19,000 people already employed in Springfield the aim is to have 35,000 people working there by 2030, fulfilling Mr Sinnathamby’s long-held vision of a self-contained, intergenerational city.
“Springfield is not a dormitory suburb. Our commitment is to create a society where there is tremendous cohesion between residents,” he said.
“Dormitory suburbs are no fun. They’re sterile. We are a city and people are moving here with no connection to Brisbane.”
There are 15 schools in Springfield, the University of Southern Queensland and a health precinct.
Over the last few years a $1.2 billion rail line linking Springfield to Brisbane’s CBD opened, while Mirvac’s Orian shopping centre has doubled in size and the GE office building is open for business with more office towers in the works.
Last year work started on ASX-listed Aveo’s plan to deliver Australia’s largest fully-integrated retirement village which will have 2500 dwellings and a host of allied facilities.
Civil works are continuing on Springfield Rise, a new suburb for 7000 residents while last week Chinese giant R & F Properties has committed to build 10,000 apartments with retail on a 8.6ha site in a plan valued at more than $6 billion.
However, there are doubts over the proposed $750 million Dusit Thani resort at Brookwater with a company behind it placed in receivership.
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