Rare South Brisbane Amalgamation Backed By 12-Storey Precedent

The site provides approximately 40m of combined frontages to Edmondstone and Browning streets and is code-assessable for up to six storeys, with surrounding precedent for 12 storeys or more on similar-scale sites.

The existing improvements comprise a three-storey building of 10 two-bedroom apartments with 18 basement car parks, together with two three-bedroom colonial cottages, generating about $436,800 in gross annual income.

Market income has been assessed at potentially more than $600,000 per annum.

RPM QLD and NSW director, transactions and advisory James Matley said the combination of scale, income and development potential presented an uncommon opportunity within the South Brisbane market.

“The Edmondstone & Browning Collective brings together four titles to create a substantial inner-city holding, while providing an established income stream throughout the holding period,” Matley said.

“Number 39 Edmondstone Street has been held by the same ownership group since 1984, with the two homes added to the amalgamation in 1988.

“Holdings of this scale are rarely available in South Brisbane outside the extremely dense TLPI, where the surrounding blocks are substantially built out.”

Precedent for uplift

The six-storey code outcome understates what the precinct has been delivering.

Within the same block and zoning, 41-43 Browning Street has been approved for nine storeys plus rooftop against a five-storey code height, while 20 Edmondstone Street has secured approval for 12 storeys and 110 apartments on a six-storey code allowance.

A development application for 11 storeys and 65 apartments has also been lodged at 37 and 39 Browning Street, a 1836sq m site of almost identical scale.

Nearby, in West End, 28 Beesley Street and 4-10 Filmer Street has been approved for 12 storeys under the same High Density Residential zoning.

A development concept prepared by Cottee Parker for the subject site was considered by Brisbane City Council at a pre-lodgement meeting on May 12 of 2026.

“The Brisbane City Council has shown a consistent willingness to support well-considered, performance-based outcomes above code height in this precinct, and in several cases approvals have reached close to double the code allowance,” Matley said.

“Against a backdrop of record-low vacancy and a sustained shortfall in new apartment supply, we expect that trend to continue, and the subject site is well positioned to benefit from it.”

First National Commercial director George Koukides said the planning framework supported a broad range of outcomes.

“Build-to-sell, build-to-rent, co-living, student accommodation and short stay are each supported by the same zoning and location fundamentals, and we anticipate interest from a diverse range of developers and investors,” Koukides said.

Mr Koukides said the existing improvements also had substantial scope for value-add development.

“The building was designed so the two-bedroom units could be made into three bedrooms, and the cottages are also ripe for renovation and repositioning,” he said. “This site presents ultimate flexibility to an incoming purchaser.”

The property is 3km from the CBD, opposite Musgrave Park and within walking distance of South Brisbane station, South Bank, the Mater and Queensland Children’s hospitals and Griffith University’s South Bank campus.

The Edmondstone & Browning Collective is being offered for sale via Expressions of Interest, closing Thursday, November 19 at 4pm (AEST).

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