A large mixed-use development site in one of Brisbane’s hottest sectors that has been in the same family for six decades is being offered for sale via an expressions of interest campaign.
The site, which is being offered with vacant possession, is located at 56 Breakfast Creek Road, Newstead.
About 2kms north-east of the Brisbane CBD, the site has been the home of Alex Gow Funerals since the 1960s.
It is within walking distance of public transport and close to the popular Gasworks precinct.
That precinct is a commercial, residential and retail development at Newstead that includes restaurants, cafes, shops, a supermarket and a public plaza inside the old gas holder of the heritage-listed Newstead Gasworks.
The property sale is being handled by Savills, whose national director Peter Tyson said the site located on the gateway of the main route between the CBD and the city’s airport.
“The site is in Brisbane’s most desirable development location, the Newstead—Teneriffe—Fortitude Valley locale, which provides a high level of existing amenity,” he said.
“The site’s large size, 5272sq m, means it has potential for development of significant size.
“Sites of this scale with wide-ranging mixed-use potential in such prime locations are increasingly rare and this site will be seen as a trophy opportunity by residential and commercial developers alike.”
Zoned flexible mixed-use, permissible uses include residential apartments, build-to-rent, aged care, retirement living, education, health care services, indoor sport and recreation, child care, offices, shops, shopping centre, showrooms and theatre.
It is an elevated site with two street frontages: Breakfast Creek Road (about 69m of frontage) and Dunlop Street (about 44m).
Savills’ Peter Tyson, Will Carman and Robert Dunne are marketing the site.
The expressions of interest campaign closes at 3pm on July 15, 2021.
The Urban Developer is proud to partner with Savills to deliver this article to you. In doing so, we can continue to publish our free daily news, information, insights and opinion to you, our valued readers.