Lambert St site owned by Pedro Pikos said to be on the market

Has one of Brisbane’s most contested development sites quietly hit the market amid protests over plans for the land? That’s what City Beat spies tell us. Here’s what its future could hold.

PIKOS SELLING?

Has one of Brisbane’s most controversial development sites quietly come on the market?

That’s what City Beat spies tell us about the Kangaroo Point land where developer Pedro Pikos is hoping to build three 15-storey unit towers, much to the chagrin of plenty of outraged locals.

We hear Pikos is now shopping around the amalgamated property at 108 Lambert Street for as much as $70 million.

Notably, it’s understood he only has options on the eight blocks which make up the 5300 sqm site and they expire next month.

Pedro Pikos

Pikos, who did not return a call seeking comment Thursday, has previously offloaded real estate in Kangaroo Point after securing development approvals that boosted their value.

Meanwhile, Pikos continues to battle the Brisbane City Council in the Planning and Environment Court, where he has appealed the knock back of his proposed 300-unit scheme for Lambert Street.

The Council rejected the development application in December on numerous grounds, including problems with site boundary setbacks, building separation, lack of open space and pedestrian accessibility.

But area critics now allege the Council’s efforts to support its case in court have been half-hearted at best and too accepting of submissions by consultants working for Pikos.

They fear mediation efforts now under way will result in Pikos getting his DA with only minor changes to the original scheme.

Pikos has already flagged to the court a planned reduction in the number of units from 300 to 273, fewer car parks and other modifications.