Behind the fence of a former glass factory in South Brisbane lies one of the last major riverfront redevelopment plays in the city and if you’re thinking about Australia real estate, you might want to sit up.
Why this matters for the buy home in Australia crowd
The Queensland Government has opened the door for private developers to turn the 7.1-hectare industrial site (once home to the Visy glass factory) in South Brisbane into a 4,000+-home mixed-use riverside precinct.
It’s 1.3 km from the CBD, sits on the Brisbane River near South Bank and West End, and is considered one of the last golden stretches of riverfront in the city.
If you’re in the market to buy home in Australia, especially in a high-amenity precinct, developments like this matter for value, supply, and lifestyle.
What the plan includes
-
More than 4,000 homes in the new precinct.
-
Riverfront promenades, event lawns, pool, public open space and high-rise towers up to 274 metres (the aviation safety cap).
-
Construction could begin from March 2027, subject to approvals.
-
The planning instrument has been streamlined: for this site a temporary local planning instrument allows residential buildings to reach CBD-style heights.
Why this ambitious plan is both exciting and challenging
For homebuyers and investors in Australia’s real estate market, this redevelopment represents one of the most significant riverfront opportunities Brisbane has seen in decades. The 7.1 hectare precinct is set to transform into a vibrant hub of high density, inner city living offering proximity to transport networks, public amenities, and the scenic Brisbane River. Such large scale projects can bring renewed vitality to the city’s urban core, attracting both local and international interest. Beyond its architectural and lifestyle appeal, the development could also play a role in addressing housing shortages, helping to ease price pressures that have long challenged the city’s affordability.
Yet, the excitement is accompanied by notable challenges. Parts of the designated site lie within flood prone areas, raising serious concerns among urban planners and environmental experts. They warn that thousands of future homes could face climate-related risks if resilience and infrastructure planning are not handled with care. Moreover, the sudden influx of new housing supply, while positive for affordability may disrupt existing pricing dynamics across nearby suburbs. Depending on market conditions, this could either stabilise prices or place downward pressure on surrounding property values, ultimately reshaping the balance of Brisbane’s inner urban housing market.
What this means if you’re thinking of buying a home
Brisbane’s riverfront location gives this project a natural premium. Its combination of waterfront views, inner-city access, and seamless transport connections make it one of the most desirable precincts in the region. For residents, it promises the best of both worlds urban convenience and riverside living while for investors, it signals a strong foundation for long-term value growth.
The project’s timing also adds strategic significance. With major construction expected to begin around 2027, decisions made today particularly regarding nearby land, properties, or future developments could prove pivotal. Those who position themselves early may benefit from the uplift in surrounding infrastructure and demand once the precinct begins to take shape.
On the supply front, the introduction of several thousand new homes will inevitably reshape Brisbane’s housing dynamics. The influx could increase competition in the short term, leading to a moderation in prices and rental yields, especially among newly built properties. However, over the longer horizon, this may help bring greater stability and balance to the city’s housing market.
Beyond economics, lifestyle value remains a major drawcard. Mixed-use precincts that integrate public spaces, green corridors, and waterfront amenities tend to attract strong market interest and achieve premium valuations. The Brisbane riverfront redevelopment aims to deliver exactly that a walkable, connected community that blends living, working, and leisure.
Still, several risk factors deserve attention. Parts of the site face potential flood exposure, and questions remain over the adequacy of future infrastructure such as schools, transport links, and essential services. There is also debate about whether the final design will truly embed affordability, ensuring accessibility not just for investors, but for a diverse range of Brisbane residents.
