ApartmentsVanessa CrollWed 27 May 26
Lantona Adds $10m Brisbane Site To Apartment Pipeline
Brisbane developer Lantona has bought a shovel-ready inner-west apartment site for more than $10 million, adding another approved project to its growing residential pipeline.
The 2414sq m site covers 97 Swann Road, Taringa, plus adjoining lots across Burns and Rennie streets, about 5km south-west of the Brisbane CBD.
It carries approval for a scheme developed by North Developments of 55 apartments, comprising 37 two-bedroom apartments, 17 three-bedroom apartments and one penthouse.
Plans also include 109 car parks and 75 bicycle spaces across a medium-density residential site with frontage to Swann Road, Burns Street and Rennie Street.
Rothelowman, Carr and Form Landscape Architects designed the approved scheme.
Lantona director Andrew Hanna said the acquisition added to the group’s premium residential pipeline across Brisbane’s inner-west.
“What attracted us to this opportunity was the combination of the elevated position, expansive frontage and the quality of the existing approval already in place,” he said.
“The vision for the project strongly aligns with the type of considered, lifestyle-focused residential product we believe the Brisbane market is continuing to move towards.”
RWC Queensland’s Tom Barr brokered the off-market sale before a formal campaign began.
Barr said the buyer was an active builder-developer chasing a premium inner-west site with strong fundamentals and planning approval already in place.
“Opportunities of this calibre in Brisbane’s inner-west are rare, particularly with the scale, elevation and frontage this property offers,” Barr said.
The site previously traded in 2020 for $5 million with approval for 34 apartments, before later changes increased the yield.
The latest acquisition follows Lantona’s recent $22-million purchase of a shovel-ready 31 Dover Street, Albion, site for 191 apartments, adding another infill project to its Brisbane pipeline.
The Swann Road site is within walking distance of Taringa train station and near Indooroopilly Shopping Centre, Toowong Village, the University of Queensland and Mount Coot-tha Reserve.
