Melbourne-based developer Goldfields is planning a 131-apartments development in the inner Brisbane suburb of Milton.
The 1600sq m site, an amalgamation of four addresses between 29 and 35 Manning Street, was pieced together for a combined price of $8.95 million.
The 14,000sq m development will sit just off Park Road, a popular riverside retail and nightlife strip anchored by the Little Paris Cafe Restaurant.
According to the application filed with the Brisbane City Council, the proposed 18-storey apartment tower will comprise 14 one-, 91 two-, 18 three- and 8 four-bedroom apartments above 170 car parking space and topped with a rooftop pool.
The development will delivered by Goldfields and joint venture partner Icon Development Australia.
Goldfields chief executive Lachlan Thompson told The Urban Developer since entering the Queensland market four years ago with its $350 million, 1000 lot master-planned community in Ripley, Goldfields had been eyeing opportunities within the inner suburbs of Brisbane.
“As a national property developer, we are constantly looking for areas that offer strong development potential and we were impressed with Milton’s amenity and connectivity to all things lifestyle related,” Thompson said.
“We are of the strong opinion that Milton, as a suburb, is on the cusp of significant capital value growth due to limited supply and its proximity to the bustling Park Street retail strip.”
Goldfield’s application builds on a previous approval for the Milton site, granted in 2011, for two 19-storey towers comprising 230 apartments.
To help realise the site’s potential, Goldfields has engaged architectural firm Rothelowman, to “reimagine the traditional Queensland home, creating a built outcome that reflects current trends in residential apartment living in Brisbane”.
Subject to receiving the relevant planning approvals, the 20-storey apartment building in Milton will boast river and city views with high quality amenities appealing to young professionals.
“This includes the ‘three day a week owner occupiers’ that split their time between the Sunshine Coast and inner-city Brisbane, but don’t want to compromise on quality or safety, as well as strategic investors,” Thompson said.
“As we continue to build our Queensland portfolio, we are considering a number of development opportunities from Brisbane to the Sunshine Coast and look forward to making further announcements in the near future.”
The play reaffirms confidence in Brisbane’s build-to-sell apartment market after a swath of developer’s continue to pivot towards build-to-rent schemes.
If approved, Goldfields intends to commence construction in the second quarter, 2022.
Meanwhile, in Melbourne, the Victorian Civil and Administrative Tribunal has given the green light to plans for a rooftop bar at the Goldfields' speculatively built $300-million tower on Chapel Street, South Yarra.
The 24,000sq m project at 627 Chapel Street is due to be completed next month and replaces an office building Goldfields bought for $50 million in December, 2017.
The developer is also pushing ahead with plans for a $270-million, mixed-use apartment and retail development on Windsor’s western fringe.
The project, on Punt Road between High Street and St Kilda Junction, will comprise more than 300 luxury apartments, and 2500sq m of retail and hospitality.
In June, the developer was given the green light for a controversial 12-storey, 200-hotel room development on the site of the former Matt Blatt showroom at Richmond.