Spring sale: Units to go on sale soon at last riverfront Toowong site
Units at Toowong’s last major riverfront site, once the home of the ABC, will hit the market within months after Council approved the $375 million project. HOW MUCH YOU WILL NEED TO BUY IN
South West
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Luxury units in a $375 million twin-tower project at Toowong’s last major riverfront site will hit the market this spring, with apartments for sale from $550,000 to $8 million.
On Friday, Council approved final designs for Consolidated Properties Group’s Monarch Residences development at the sprawling ex-ABC Brisbane site.
The approval was for three towers.
However, CPG Head of Residential, James MacGinley, said only two towers would go ahead if Council’s West End-Toowong green bridge was built.
“We’ve been in discussions with Council officers and they are committed to the bridge,’’ he said.
“Our view is we need to be prepared if things change and clearly the bridge is not within our control, but we expect it will go ahead.’’
More than 300 people have registered their interest in buying, with 85 per cent from Brisbane, he said.
Mr MacGinley said the approval outlined only minor changes to designs announced several months ago, including alignment of a bikepath connecting the riverfront Bicentennial Bikeway to neighbouring Archer St.
He said approvals were still at least six months away for building works on historic Middenbury House where Wallis Simpson, the legendary wife of King Edward VIII, once partied.
“Turning it into a cafe/restaurant is still our plan A. It’s a very logical use when you look at its position on the site, near the bridge landing point and the bikeway, and also the lack of other riverfront dining options in Toowong,’’ he said.
“Upon completion, Middenbury House will be accessible to the public for the first time since it was built in 1865.’’
The 600 Coronation Drive project, a joint venture with the Qualitas Real Estate Opportunity Fund 2, would feature two, 15-storey towers on 1.2ha of land with 130m of river frontage.
The two towers would include 233 premium one, two, three and four-bed “skyhomes’’, river
villas and penthouses, designed by John Wardle Architects and Cottee Parker Associates.
“Monarch Residences is an outstanding offer and will be unique for the area, with its extensive gardens which run to the river’s edge, CPG chairman Don O’Rorke said.
“It will become renowned in the local area. We look forward to working with (Toowong-based) Hutchinson Builders to get it started.”
The site, bought from Gold Coast-based developer Sunland for $35.5 million in March last year, had been vacant since 2006 when the ABC abandoned it after an apparent cancer cluster. The property is being remediated.
To register interest in buying, visit monarchcoronationdrive.com.au
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