Cairns real estate: Cairns CBD high-rise proposal revived

Favourable market conditions have a Cairns developer seeking to revive plans to build a 13-storey apartment building in the CBD.

AN apartment tower of 13 storeys and 40.04m height will be built at the corner of Lake St and Florence St if Cairns Regional Council renews approval of the project.

Bryant Developments is seeking to build 55 units plus space for offices, health care services, retail stores and cafes or restaurants at the site, which is currently vacant.

The proposed units are for permanent residential occupation.

A high rise residential tower was initially approved at the site in 2007 before the land and an adjoining block were purchased by Bryant Developments.

Bryant Developments is proposing a 13-storey development with 55 units, retail, offices, health care services and restaurants at the corner of Lake St and Florence St. The development was approved in 2014 but lapsed in 2018. Picture: supplied

The development application, which pointed out the extra land meant a more favourable design, was approved in 2014 with a waiver of infrastructure charges but it was put on hold and lapsed in 2018.

Bryant Development lodged a fresh application on December 21 for the site at 157 Lake St.

“Due to improved market conditions, the applicant now seeks to reinstate this approval,” the document states.

“The progression of this project would be a major sign of confidence for Cairns and we strongly encourage council to support and facilitate it.”

The new proposal drops 10 two-bedroom units in favour of five four-bedroom units and brings carparking spaces from 108 to 120.

The tower would include a three-storey podium with a recreational deck and pool area and 428sq m of ground floor commercial space.

The site covers 2030sq m with a small vacant commercial building at the Florence St frontage, as well as some established vegetation and remnants of a demolished house.

The site is diagonally opposite Cairns Aquarium and next to Cairns Medical Centre and pharmacy.

The developer has been contacted for comment.

Unit prices in Cairns have soared in 2021 with the median price for a unit in the city increasing by 18.9 per cent to $385,349.

The median price of a unit at Cairns North is $247,282, at Parramatta Park it is $267,775 and at Edge Hill $247,282 – the biggest median increase, of 20.9 per cent, across the city.

Originally published as Cairns real estate: Cairns CBD high-rise proposal revived