This article is from the Australian Property Journal archive
DAIRY giant Parmalat Australia has put a 25ha Brisbane inner city development site, which has the potential to accommodate 2,000 dwellings, on the market.
Knight Frank in conjunction with Colliers International has been appointed to sell the land allotments, ranging from 2,400 sqm to 25,000 sqm.
The Hope St site comprises 8,050 sqm and is being offered as either a whole development site or two parcels, whereas the Montague Rd development site (17,010 sqm) consists of four individual sites at 98- 128 Montague Rd, being offered in separate parcels or in one line.
The properties are approximately 600 metres from the Brisbane CBD.
Knight Frank’s senior director, institutional sales, Justin Bond said that the offering encompasses enormous development potential, strongly supported by local and state government.
The current town planning provisions enable 30 storey developments, with the potential for 40 storeys on some sites under the Kurilpa Riverfront Renewal Draft Master Plan.
“Initial feasibilities suggest the potential of approximately 2,000 residential apartments plus retail and commercial offerings across the available sites. An astute developer may be able to produce higher yielding developments, subject to council approval,” Bond said.
Knight Frank’s senior director, institutional sales, Ben McGrath said currently in draft format, the Brisbane City Council and the Queensland government are working together on the Kurilpa Riverfront Renewal project to facilitate the renewal of prime riverfront land in South Brisbane.
Colliers associate director, residential, Brendan Hogan said Kurilpa will be a new riverfront destination, a sophisticated inner-city community with a mix of contemporary apartments, state-of-the-art offices and world-class cultural venues.
The EOI closes Thursday 4 December.
Australian Property Journal
