Huge development site set to connect key inner-city suburbs up for sale

A 3,000 sqm site is going to market, with a planned retail and apartment complex that could hold nearly 500 new homes.

A massive development site for a retail and apartment complex is up for sale, designed to connect the lifestyles of Fortitude Valley and the Brisbane CBD.

44 to 100 Barry Pde, Fortitude Valley, is a 3,154 sqm site with development approval for a retail space, along with dual 27 and 37 storey towers that can house 490 units.

44-100 Barry Pde, Fortitude Valley – a render of the planned development, with approval for a retail centre and 490 units.

The project is planned to include one, two and three-bedroom apartments for sale, atop a public space that can house cafes, restaurants and shops.

Sitting near several major locations, the project’s press release said it was designed to act as a “missing link” between Fortitude Valley and Brisbane City’s retail and living areas.

The mixed-use project was designed by architects from Rothelowman, and is being sold through Colliers Queensland Residential Directors Brendan Hogan and Troy Linnane.

The site is on the market through Colliers and accepting expressions of interest until April 10.

Mr Hogan said large apartment developments such as this were needed to meet Brisbane’s quickly growing population.

“With limited new apartment supply coming to market and unmet demand, this type of development … is a much needed piece of the critical housing supply shortage,” he said. “The development site market in Brisbane has excellent fundamentals with Brisbane seen as having the best growth prospects of any city on the eastern seaboard of Australia.”

The property’s location was selected as part of a means to connect Fortitude Valley’s retail and urban living with that of the CBD. Picture: Steve Pohlner

Mr Linnane added the site represented a chance to change the shape of Brisbane’s CBD in the coming years.

“It is very rare for a ready-to-go approved prime residential development site on the border of the CBD to hit the market, and we expect to see competitive market interest,” he said.

“Alternative development outcomes may include Build to Rent or Purpose Built Student Accommodation (STCA), which would compliment the stageability of the approved Build to Sell project.”

Mr Hogan and Mr Linnane are selling the property on behalf of Tim Heenan and Sam Marsden, from the financial advisory company Deloitte.

On-market expressions of interest are currently open, set to close on April 10.

Originally published as Huge development site set to connect key inner-city suburbs up for sale