Everton Park unit blocks delayed amid economic uncertainty

Brisbane’s residential construction sector is showing signs of weakness thanks to the global pandemic, with one project on the city’s northside set to take up to nine years to be completed. SEE WHERE.

THE first signs of a construction slow down have hit Brisbane, with one developer using COVID-19 to ask for a four-year project extension.

Plans for a 22-unit project on Sizer St, Everton Park were first made in 2015, but five years later construction still hasn’t commenced.

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In yet another application made last week, developers Everton Close have applied for another four years to build the dual-tower project.

“Given the current economic uncertainty and lending capacity of banks due to the COVID-19 pandemic, only a partial building approval to slab stage has been submitted,” the application said.

“The applicant is unsure how funding will be impacted through construction, notwithstanding the physical presence of trades being restricted onsite due to social distancing, as well as impacts to sales for the end product in a potential recession.”

A render of the apartment block. Picture: PD Online.

If the extension is granted by Brisbane City Council, it would mean the apartments would’ve taken nine years to have been built.

Pictures taken by The Courier-Mail on Friday show three houses along Sizer St still standing in the spot where the development is earmarked to be built.

From the street, no construction work looked to have commenced.

It comes as the property market expects COVID-19 to impact real estate demand and construction of residential and commercial projects.

One of the three homes along Sizer St, Everton Park, that will be demolished to make way for the new development. Picture: Thomas Morgan

Major companies in Brisbane’s CBD have signalled they’ve put their plans on hold due to the pandemic, with demand for office space expected to be hit hard.

Construction however continues on major multi-billion dollar projects around Brisbane, including Cross River Rail and Queen’s Wharf.