The project was part of a $5 billion investment plan at the airport “in sustainable, transformational infrastructure that will deliver improved services, new facilities, and an exceptional airport experience”.

Also included in the plans was a new terminal, but the auto mall was to be its largest non-aviation project. An estimated 300 jobs were expected in the development.

It included a test track designed by racing driver Mark Skaife and the overall project was planned to “change the face of car retailing”.

Eagers Automotive was partner in the project which was first announced in 2015 and in a joint statement from BAC and Eagers, the two said it was a mutual decision.

“This decision has been driven by a number of factors, including the economics of a performance track in a changing world,” the statement said.

“Both parties remain open to exploring future opportunities at Brisbane Airport. ”

BAC executive general manager commercial Martin Ryan said the company was committed to continuing to develop a multi-purpose precinct which locals and visitors can enjoy in the years to come.

“This site is three times larger than South Bank Parklands, so it is important for us to take the time to plan this area right,” he said.

There had been an opening date of the test track for the end of 2024 and the project was anticipated to include a multi‑purpose auto retailing hub, exhibition and conference activities, an event area, driver training schools and regional offices, located around a multi-purpose test track.

The Mark Skaife-designed test track was to feature high-speed straights, skid pan, handling and off-road 4WD circuits. The test track woulf also be available for manufacturer launch events, media driving events, driver training, vehicle engineering and development, corporate events and general test driving.