A long-vacant sliver of the Brisbane CBD looks set to finally be developed, delivering the first boutique residential project to the CBD in more than two decades.
An application for a new 24-storey luxury residential tower has been lodged in the heart of the Brisbane, located at 466 Ann Street.
The Bureau Proberts-designed residential tower comprises 19 single-floor apartments above a five-storey podium of car parking and retail.
The narrow 486sq m site, wedged between the New Yorker art deco apartments and Mantra on Queen, was recently sold by Archery Capital and Crossbow Investments as mortgagee in possession for 466 Ann Street Pty Ltd, an entity associated with Sydney-based Treelight Development Group.
After purchasing the site for $3.7 million in 2015 and several false starts, Treelight lodged a development application for a 37-storey residential tower mid-2016.
Receivers appointed Adam Rubie and Brendan Hogan of Colliers International to sell the site in mid-2018.
The vacant site, bounded by Ann Street and Perry Lane, was purchased for $3.85 million by a joint venture between developer Di Marco Group (editor’s note: Adam Di Marco is the founder and publisher of The Urban Developer) and Singaporean property developers TG Development Pte Ltd.
According to Di Marco Group managing director Adam Di Marco, the site presented a unique opportunity to develop a boutique residential project in the heart of the Brisbane CBD.
“Raw land in the heart of the Brisbane CBD is rare commodity, with this project presenting the first boutique residential development in the city for over two decades,” Di Marco said.
“Our proposal is to develop striking single-floor residences that weave the best of urban living together — architecture, landscape, location and lifestyle.”
The design offers 19 typical floor-plates of three and four-bedrooms averaging 220sq m and are presented as boutique stacked sky homes separated by a “green” atrium.
Podium car parking has been enabled through a vertical car lift accessed off Perry Lane which provides each apartment with a minimum of two car parks, including four individual private sky garages.
The proposal also includes a retail tenancy on ground floor along with a cross-block link connecting Ann Street and Perry Lane.
The vacant site, which was the scene of a building collapse in the 1990s was originally the site of a proposed 40-storey pencil tower by the previous developer.
“We always knew the site was going to be tricky when we bought it, however we took the view that less is more in this instance,” Di Marco said.