The Queensland government is selling a key piece of real estate in the inner-Brisbane market.
The site, a key redevelopment site in the inner city suburb of Milton, is up for sale via an ‘expressions of interest’ campaign, Colliers International representative Pat George said.
“It is probably the best redevelopment site in Brisbane - certainly it is one of the best redevelopment sites in the inner western suburbs,” Mr George said.
“The property has three-street frontage and potential panoramic river and city views from upper levels of the development, and location is certainly the key attribute of the property.
Mr George said that while Milton is a popular inner-city suburb, there are currently limited committed or under construction developments underway, so a development site of this nature would be meeting pent-up demand from the market.
“The size of the parcel allows for a commercial office development to provide campus style floor plates which are attractive in the current market,” he said.
“It is in the popular, established inner city suburb of Milton, only two kilometres from the Brisbane CBD, and close to plenty of services and amenities, being just a short walk from the shops, supermarket, dining and entertainment precincts of Park Road, The Barracks and Caxton Street.”
The 3479sq m property at 32 Cribb Street in Milton is being sold by the Queensland government and was formerly occupied by QBuild.
The site is currently occupied by industrial-style buildings and is suitable for redevelopment, Colliers said. It is ‘Code Assessable’ for significant high-density development under the Neighbourhood Plan.
The Expressions of Interest campaign closes on August 29 at 4pm.