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A boutique development approved residential development site in Brisbane CBD is being offered for sale by Colliers.
The 486sq m site, at 466 Ann Street, Brisbane City, is being marketed via an expressions-of-interest campaign by Colliers agents James Matley, Adam Rubie, and Brendan Hogan.
The site represents one of the last remaining vacant CBD development opportunities, with council approval, and will allow incoming purchasers to take full advantage of the strong luxury off-the-plan apartment market.
The approval offers 21 premium full-floor, three-bedroom apartments, designed by bureau^proberts.
Matley said that a strong response from the marketplace was expected due to the rare nature of the opportunity and other market factors.
“The scarcity of inner-city apartment projects highlights the unparalleled opportunity this development presents.
“With limited supply and increasing demand for premium residential properties, prospective buyers have the chance to meet this demand and embark on a residential project within the thriving Brisbane CBD.”
Rubie said: “The site is strategically positioned at the entrance of Brisbane’s CBD; 466 Ann Street boasts immediate access to a diverse selection of dining, retail, and entertainment options.
“Notable nearby locations include the renowned Howard Smith Wharves, the Eagle Street Dining Precinct and the Queen Street Mall, ensuring residents will have a plethora of amenities at their doorstep.”
Hogan said: “Off-the-plan apartment prices have increased by 21 per cent since Q1 2022 and Colliers predicts that with increasing demand coupled with a diminishing number of new projects coming to the market that new apartment sales values will continue to grow throughout 2023 and beyond.”
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The site’s PC1–Principal Centre zoning allows for a range of potential alternative uses, including student accommodation, hotels, or short-term accommodation, subject to council approvals.
Expressions of interest close on Wednesday, July 12, at 4pm.
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