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<div class="row" data-reactroot=""><div class="cell cs12 cx12"><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><strong>One of Brisbane&#x27;s best parcels of land is now the site of one of the city&#x27;s most ambitious houses, according to a development application lodged with Brisbane City Council. </strong></p><p>The vacant clifftop block, located at 31-33 Moray Street, New Farm recently sold to local businessman Jamie Pherous and his family for a suburb record of $11.3 million. </p><p>The 1,103sq m lot was sold by Jane Gibson, the widow of celebrated Brisbane architect Robin Gibson, who acquired the site in 1986 for just $200,000.</p><p>The proposal includes a 4-storey house with a basement level of car parking and recreational facilities. </p><p>Located on land zoned medium-density residential, the impact assessable application is currently in front of Brisbane City Council, <a href="https://app.cityshape.com.au/project-report/A005044686">according to CityShape&#x27;s new DA Tracker</a>.</p><p>Related: <a href="https://theurbandeveloper.com/articles/vacant-lot-sale-in-new-farm-smashes-city-record-">Vacant Lot Sale in New Farm Smashes City Record</a></p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/c55b8e43-9f59-4e3e-bf8a-fb7c2168bbcf.png" width="936"/></picture><div><span style="align-content:left;opacity:0.8">31-33 Moray Street, New Farm</span><span style="float:right;opacity:0.8">Cityshape.</span></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>Designed by Tim Stewart Architects, the proposal includes basement car parking, games room and gymnasium that leads out to a clifftop pool and pool deck. </p><p>The upper ground level will comprise a media room, office, study, laundry and combined living, dining and kitchen terrace at the rear.</p><p>Level one will include a master suite with expansive dressing room, ensuite and storage room and is accompanied by five bedrooms each with an individual ensuite. </p><p>And on the uppermost level, the proposal includes an entertainment room with kitchenette, roof terrace and pool and guests quarters. <br></p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/203e41cd-31b0-4f32-8974-b919fc3ecd2d.png" width="1428"/></picture><div><span style="align-content:left;opacity:0.8">31-33 Moray Street, New Farm</span><span style="float:right;opacity:0.8">Cityshape.</span></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>Jamie Pherous is the founder and managing director of Corporate Travel Management, one of the largest travel management companies in Australia. </p><p>He started the company in 1994 and later floated it on the Australian Securities Exchange (ASX) in 2010. </p><p>The proposal comes amid growing confidence in the Brisbane residential market with BIS Oxford Economics predicting Brisbane will lead the Australian capitals with 13 per cent property price growth predicted by 2021.</p><p>The average price of a block of land in New Farm is $2.6 million and the previous record for a vacant lot in the suburb was a $5.5 million sale to a developer.</p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><a href="https://www.cityshape.com.au"><em>To stay informed on development applications, sign up to CityShape&#x27;s powerful new DA Tracker for free today.</em></a></p></div></div></div></div></div>

An ambitious proposal by a local businessman to build a a five-storey home on a prime clifftop block in New Farm has locals talking. 

Forme 75-85 James Street in New Farm


<div class="row" data-reactroot=""><div class="cell cs12 cx12"><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p>Local developer Forme has lodged plans for a mixed-use precinct in Fortitude Valley’s up-market James Street precinct, a few kilometres from Brisbane’s CBD.</p><p>The 2600sq m site, an amalgamation of a collection of low-rise residential properties between 75 and 85 James Street, will be redeveloped into a new office, retail and dining complex.</p><p>The proposed 5-level commercial building will include eleven ground floor retail tenancies targeted at “high-end” fashion brands, health and wellbeing as well as restaurants and cafes.</p><p>The 6100sq m building will feature a central piazza and arcade linking James Street and Southwick Lane at the rear of the building.</p><p>The development will sit above three levels of basement car parking for 145 cars and end-of-trip facilities which will be accessed via Harcourt Street. </p><p>It marks a quick turnaround for the developer after picking up the first portion of the site, 75 and 77 James Street, in June 2020 for a combined $2.8 million before moving on 85 James Street in November, outlaying $3.4 million.</p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/e5bc91bf-b7f6-4367-ba0d-22e7a193a8c7.jpg" width="960"/></picture><div><span style="align-content:center;opacity:0.8">▲ The building&#x27;s piazza will include stair access to larger retail, wellness and hospitality tenancies on level one. Image: Richards and Spence</span></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>Soon after, Forme directors David Calvisi and Byron Griffith approached the owner of 79 James Street, the largest portion and centrepiece of the site.</p><p>The private owner, who built and held the low-rise apartment building, decided to sell the property after Forme matched an offer made by a rival developer intending to redevelop the property into a Coles supermarket.</p><p>All three pre-1911 homes, at ​​75 and 77 James Street and 228 Harcourt Street, will be relocated while the apartment and dining complex will be demolished.</p><p>Calvisi and Griffith told <em>The Urban Developer</em> the proposed development ​​would “extend the vibrant and recognised retail strip” which currently featured over 130 specialty stores, including high-end boutiques such as Scanlan Theodore, Sass &amp; Bide and Calexico, as well as top restaurants and bars.</p><p>“James Street is a neighbourhood precinct which has reached national acclaim for the vitality of its retail and hospitality offering, however, the precinct stops dead at Arthur Street,” Griffith said.</p><p>“Expanding along its namesake, the precinct has evolved by natural progression to include two hotels and a myriad of small commercial tenancies.”</p><p>“We have now managed to unlock a site which can extend the commercial and retail strip into what we are candidly calling ‘James Street east’ and, if realised, would be built on one of the street’s last remaining commercially-zoned sites,” Calvisi said.</p><p>“We are proposing a prime mixed-use endeavour to continue the fine grain tenancies synonymous with the precinct while supplying much needed small to medium office space.”</p></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><div><picture><img src="https://tud-prod-tudmedia-oj9w2zshuo0o.s3.amazonaws.com/raw/images/8b2db95a-a218-4fc2-8a45-72253e13e281.jpg" width="960"/></picture><div><span style="align-content:center;opacity:0.8">▲ The building will be topped with a rooftop terrace with views across to the Storey Bridge and Brisbane river. Image: Richards and Spence</span></div></div></div></div></div><div class="row ci"><div class="cell cs12 cx12"><div class="ci cl"><p><br>The sought-after precinct currently has zero vacancy for office and retail tenancies. </p><p>Richards and Spence, the Brisbane-based architecture firm behind the broader James Street precinct, including the 175-room, 5-star Calile Hotel and James Street Market has been enlisted by Forme to design the office precinct.</p><p>Calvisi and Griffith said they had been in close contact with brothers Cal and Michael Malouf, the developers responsible for The Calile, to discuss the opportunity to create additional retail and office tenancies along James Street, a mix they had “fine-tuned” while managing the strip. </p><p>Over the years, the Maloufs have guarded against unhealthy competition and retail cannibalisation at James Street, opting for quality over rental quantity.</p><p>The family has also promoted home-grown and Australian stores and designers, rather than globally recognised brands.</p><p>“We want to provide for the community and ensure that our development is a continuum of James Street and has lots of public space to draw people into a new and thriving retail destination,” Calvisi said.</p><p>“We intend on holding onto this asset for a long time and we feel like we are staying true to what has kept James Street such an exclusive and unrepeatable location. </p><p>“For us, this development will be a generational asset, and working with Richards and Spence has allowed us to deliver on our broader vision.”</p><p>On the Gold Coast, Forme has wrapped up construction on <a href="https://www.theurbandeveloper.com/articles/gold-coast-apartment-property-development-undersupply">Norfolk</a>—a 10-level residential building of just 15 apartments on Goodwin Terrace in Burleigh Heads, designed by architect Koichi Takada.</p><p>The project achieved $73 million in pre-sales for its 15 apartments and in January had its two-level five-bedroom beach house with pool snapped up for $6.2 million by prominent local entrepreneurs and philanthropists Cathie Reid and Stuart Giles, while the penthouse was bought for $9 million.</p><p>On a neighbouring site Forme has sold out all eight full–floor residences of its under construction Luna development, designed by Plus Architecture and Mim Design, for a combined $37 million. </p><p>Meanwhile, at <a href="https://www.theurbandeveloper.com/articles/burleigh-beachside-development-forme">96 The Esplanade</a>, Forme has plans for a $107 million, Koichi Takada-designed, 18-storey apartment tower, dubbed SEA.</p><p>That 1000sq m site, which was amalgamated by Forme over six months, is currently home to a low-rise unit block. It is directly across the road from beachfront parklands.</p></div></div></div></div></div>

      Forme has lodged plans for a mixed-use precinct in Fortitude Valley’s up-market James Street precinct, a few kilometres from Brisbane’s CBD...

NEW FARM