The CFMEU pays $10.2m for seven adjoining Bowen Hills lots to create a 3276sq m amalgamated site

One of Australia’s most militant unions has spent millions of dollars buying seven adjoining properties in a prime central Brisbane location, in a move made all the more interesting following the response to requests for more information.

ONE of Australia’s biggest — and most active unions — has been busy buying up properties in an inner city urban renewal precinct during the COVID lockdown.

The Queensland branch of the CFMEU has settled on the purchase of seven lots across the road from its headquarters on Campbell Street, Bowen Hills, which it bought and moved into about a decade ago.

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CityBeat approached the union to see what they were up to but we received a very firm “no comment” for our efforts.

According to CoreLogic between April and August the union paid just over $10.2m for the acquisition of the lots totalling an amalgamated land area of 3276sq m at 19, 21 and 25 Campbell Street, 26 and 30 Edgar Street and 9 and 11 Hazlemount Street in Bowen Hills.

The CFMEU's land holding in Bowen Hills. Photo: CoreLogic

Smart unions invest their members funds wisely and with a variety of tenants operating out of what is a mixture of showrooms and light industrial buildings the CFMEU’s Queensland branch currently has a nice little earner.

However, with a 3000sq m plus site in a looming development hot spot the union can expect a nice windfall for its members if they decide sell it as a residential/retail site in the future.

Who knows — it’s pure speculation mind you — but could the union one day jump into bed with a builder or developer and develop it themselves?

Talk about strange bedfellows.