Sunland Group selling former ABC site in Toowong
One of the most controversial pieces of riverfront land in Brisbane is on the market and should attract strong interest from local and offshore developers.
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The controversial former ABC riverfront site which the national broadcaster abandoned 14 years ago because of a cancer cluster is back on the market.
Sunland Group bought the 1.5ha site at 600 Coronation Drive, Toowong, in 2013 but its much debated three tower “champagne-flutes” development became bogged down in the courts and was finally rejected by the Supreme Court in 2018.
The group was seeking to prepare a new development applications but through Colliers International it is now “testing the market” through an expressions of interest campaign.
Futuristic towers planned for old ABC studio site at Toowong
ABC cancer cluster: 10 years since Toowong studio shut down
Colliers’ Brendan Hogan, who is selling the site with Adam Rubie, said he was anticipating strong interest from local, interstate and international developers and investors.”
“It is absolute riverfront and the best site of its kind on the eastern seaboard,” he said.
“At present there is very limited supply of new apartments in inner Brisbane, with the inner west representing around just 7 per cent of future apartment supply across Brisbane’s inner city.
“Stock is rapidly declining to a point where our research outlines there will be less than five projects above 50 apartments, under construction across the inner city by the end of 2021.”
Designed by Dame Zaha Hadid, Sunland’s $600m Grace on Coronation project was to have three residential towers — two 24 storeys and one 27 storeys — eight riverfront villas, ground floor mixed use and expansive public realm along the Brisbane River and surrounding historic Middenbury House.
The towers gave the appearance of champagne flutes, where the open space and gardens filled out the ground floors beneath the stems.
Mr Hogan said the 1.5ha site currently has no DA but it code assessable for 15 storeys.
They were also selling a 1000sq m site at 20 Archer Street owned by Sunland which has approval for a boutique apartment.
The ABC’s former Toowong headquarters, abandoned in December 2006 after a series of breast cancer scares with 13 women diagnosed with the disease over an 11-year period.
Sunland bought the abandoned ABC site in 2013 for $20 million.
The Group is also selling a 3.25ha “shovel ready” townhouse development site at 20 Margaret Court, Kenmore. The site has development approval for 96 premium townhomes.
Mr Rubie said: “Both sites present unique offerings in Brisbane’s western corridor suburbs; in Kenmore, Brisbane City Council planning parameters have effectively ‘banned townhouses’, meaning townhouse sites have becoming increasingly rare and highly sought after.”
“In Toowong, opportunities of this significant scale, just 3.5km from the CBD, are simply not available in absolute riverfront locations.”
Expressions of Interest for 20 Margaret Court, Kenmore close September 23 and 600 Coronation Drive, Toowong, a week later.
