This article is from the Australian Property Journal archive
An Albion redevelopment site has hit the market.
Fabcot, Woolworths development arm, is selling a development opportunity at 60-78 Hudson Road, which follows the sale of its Kangaroo Point site in November for $18.25m to Mosaic Property Group,
The site is a former Albion Flour Mill in Brisbane’s inner-ring. Located 5km north-east of the Brisbane CBD, the project, dubbed The Albion, is a mixed-use development comprising two 18-storey towers including 456 apartments, and retail space including a full line 4,000 sq m Woolworths supermarket as well as a BWS store, set on a 5,586 sq m site.
Fabcot submitted plans to the Brisbane City Council in September, according to the council’s website.
Colliers’ Troy Linnane, Robert Papaleo and James Wilson are handling the listing and they believe the site will attract a range of buyers.
Lianne, Colliers Queensland residential director, said: “We are expecting to see strong interest from local, interstate and offshore developers, with a compelling opportunity for both build to rent and build to sell outcomes, as well as investors and high net worth individuals.”
“The development site market in Brisbane has excellent fundamentals which are seen as having the best growth prospects of any city on the eastern seaboard of Australia. The average sale price for inner-city new apartment stock soared to a new peak of $2,083,000 in Q2 2024,”
