Silverstone Developments is planning a purpose-built medical facility in Brisbane's fringe CBD suburb of Spring Hill.
The Brisbane-based developer has lodged a development application for a 6,100sq m commercial mixed-use development on a 1,745sqm site at 525 Boundary Street.
Silverstone bought the site of the International Hotel late last year for $5 million. The hotel, built in 1883, was formerly known as The Diggers Arms Hotel.
The site is located opposite the St Andrews War Memorial Hospital in a strong education precinct.
Silverstone development manager Luke O'Dwyer said the proposed development, designed by PDT Architects, would retain and incorporate the existing building on site.
The 9-storey commercial building will feature five levels of medical space as well as an ambulance bay and hospital-sized lifts.
The building's basement and podium will hold up to 153 parking spaces.
“We have specifically upgraded the building features to separate ourselves from a typical Spring Hill refurbishment,” O'Dwyer said.
O'Dwyer said Silverstone was yet to launch any marketing but remained confident of a strong uptake after being approached by three separate medical tenants hoping to agree terms.
Silverstone holds a diversified portfolio of commercial, retail and residential projects, as well as a growing book of managed development investments.
The Spring Hill development adds to its pipeline of near-city Brisbane projects and follows the group’s recent sale of a retail development at Rochedale.
Late last year, Silverstone entered into an agreement with the Queensland government for the redevelopment of the PCYC and and a 12-storey commercial development in Fortitude Valley.
The developer also has plans for an $80 million tower as part of Metro’s 800-apartment project in Newstead.
If given the go-ahead by council, construction of the medical facility will begin early next year with completion within an 18 month window.