The Brisbane skyline is set to transform following the announcement of a new $250m shopping precinct in the city’s outer suburbs.

The dining and retail offering serves as the highlight of the Yeerongpilly Green development, a dedicated community village from developer Consolidated Properties Group.

Pending approval from the Brisbane City Council, the $850m residential development will host more than 5000sqm of retail, complemented by restaurants, commercial buildings, five hectares of parkland and a boutique hotel.

Anchor tenant, Woolworths has committed to the recently announced shopping district, with a number of specialty retail and dining offerings still to be tendered and announced.

Don O’Rorke, Consolidated Properties Group executive chairman said the addition of key tenants like Woolworths paved the way for further retail brands and home-buyers to join the development.

“Woolworths’ commitment is the catalyst for the development of Yeerongpilly Green’s village heart, which will be a major drawcard for prospective purchasers looking to secure a home in the first stage of this vibrant riverfront community,” O’Rorke said.

In preparation for the initial build, Consolidated Properties has this week commenced a $10m restoration program for two of the property’s heritage-listed buildings; The Institute and The Stables.

Construction on the Yeerongpilly Green development, Brisbane’s largest urban regeneration project is expected to commence later this year.