CommercialLindsay SaundersThu 25 Jun 26
Lendlease Wins Nod for ‘South Bank 2.0’ to Rise on Brisbane Visy Site
Lendlease has been named the preferred master development partner to transform the former Visy industrial site at South Brisbane into a major riverfront mixed-use precinct spanning 7.1ha along the Brisbane River.
The site on Montague Road between South Bank and West End, about 1.3km from the CBD, is within one of the most strategically located redevelopment corridors in the inner city.
Under the Queensland Government’s current plans, the precinct, nicknamed South Bank 2.0, is expected to deliver more than 4000 new homes in a high-density, mixed-use neighbourhood with a combination of residential, commercial, hospitality and community uses integrated across the riverfront.
The broader masterplan includes public realm works, with new riverfront promenades, boardwalks, plazas, parkland and amphitheatre-style civic spaces designed to open continuous public access along the Brisbane River edge.
Pedestrian and cycling connectivity is a central design feature, with new links intended to integrate the precinct into South Bank, West End and surrounding inner-city networks, effectively extending Brisbane’s established cultural and lifestyle spine.
Early planning concepts also indicate capacity for significant built form and density outcomes, reflecting state planning frameworks that support substantial urban consolidation in inner Brisbane locations close to the CBD.
The project is being positioned as a key legacy opportunity in the lead-up to the 2032 Olympic and Paralympic Games, with initial homes and public spaces targeted for early delivery to activate the precinct ahead of the event.
The state called for expressions of interest in the site in October.
The site has been used for decades as a major industrial glass recycling and manufacturing facility under Visy, forming part of a broader industrial river edge that has gradually been identified for urban renewal as inner-city industry relocates over time.
Visy is in the process of vacating the site, with operations expected to cease in 2027 as production shifts to a new facility outside the inner metro area, freeing up one of the last significant industrial riverfront parcels in Brisbane’s core.
The Queensland Government acquired the site in 2022, initially exploring options for Olympic-related temporary uses before shifting focus toward a long-term urban redevelopment strategy aligned with post-Games housing and city-shaping outcomes.
The redevelopment is expected to act as a catalyst for broader renewal across the South Brisbane river edge, accelerating the transition from industrial use to high-density urban living.
The precinct is forecast to support more than 3000 jobs across planning, construction and ongoing operations, reflecting its scale as a long-term city-shaping infrastructure and development program.
Lendlease has framed the project as a rare opportunity to deliver a landmark riverfront neighbourhood that integrates housing supply, public space and economic activity on one of Brisbane’s most valuable urban renewal sites.
Early works on the redevelopment are anticipated to commence in April of near year, subject to approvals, marking the start of a staged transformation of the former industrial riverfront into a new inner-city precinct.
Lendlease chief executive, development Claire Johnston said the transformation of the former Visy site was an opportunity “to reimagine one of Brisbane’s most significant riverfront locations, deliver thousands of much-needed homes, and create long term legacy”.
“In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane’s growth and how people experience the city for decades to come,” she said.
“This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces.”
