Prime redevelopment site in Brisbane up for sale

July 12, 2012 | Development Sites | Commercial

One of the best redevelopment sites in Brisbane is up for sale via an expressions of interest campaign being marketed by Colliers International.

The 3479sq m property at 32 Cribb Street in Milton is being sold by the Queensland Government and was formerly occupied by QBuild, which provides construction and strategic building maintenance services throughout Queensland to government agencies.

The site is currently occupied by industrial-style buildings and is suitable for redevelopment. It is ‘Code Assessable’ for significant high-density development under the Neighbourhood Plan.

Pat George of Colliers International, who is marketing the Milton property, said it would be perfect for a mixed-use development which could incorporate residential, commercial office and retail uses.

“It is probably the best redevelopment site in Brisbane - certainly it is one of the best redevelopment sites in the inner western suburbs,” he said.

“The property has three-street frontage and potential panoramic river and city views from upper levels of the development, and location is certainly the key attribute of the property.

“The size of the parcel allows for a commercial office development to provide campus style floor plates which are attractive in the current market.

“It is in the popular, established inner city suburb of Milton, only two kilometres from the Brisbane CBD, and close to plenty of services and amenities, being just a short walk from the shops, supermarket, dining and entertainment precincts of Park Road, The Barracks and Caxton Street.”

Mr George added that the Cribb Street site has great access to public transport, with the train and bus virtually at its doorstep.

Mr George said that while Milton is a popular inner-city suburb, there are currently limited committed or under construction developments underway, so a development site of this nature would be meeting pent-up demand from the market.

The Expressions of Interest campaign for the property at 32 Cribb Street closes Wednesday, August 29 at 4pm.

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