Bulimba's Oxford St to get commercial upgrade after Cielo Group purchase

A popular waterfront precinct is set for an upgrade after a local developer snapped up a trio of properties that will mean a new home for a much-loved bookshop.

A popular waterfront high street in Brisbane is set for an upgrade after a local developer snapped up a trio of properties that could be a catalyst for change for the prestigious inner-city precinct.

The properties along Oxford St in the inner-east suburb of Bulimba will make way for a huge 3081sq m development spearheaded by Justin O’Donnell of Cielo Group.

The properties include the popular Riverbend Books shop and cafe at 193 Oxford St, which will be absorbed into the new project, alongside a block of nine residential units at 187 Oxford St and a commercial block at 189-191 Oxford St.

Riverbend Books, owned by Suzy Wilson (pictured) is an institution. Picture: Russell Shakespeare

Mr O’Donnell, a local, said that Oxford St needed to be done up to revitalise the area, which was now “lacking” compared to its glory days. “It is so tightly held, probably the most tightly held street in Brisbane,” he said. “Nothing gets done because nothing sells. We need something big.”

The new development, designed by Z Architects, will include an exciting anchor retail tenant to occupy the ground floor, medical tenancies on the second floor, and office space on the third.

Riverbend Books, which is one of the country’s leading independent bookstores, will take up a tenancy on the ground floor of the redevelopment. The store, opened in 1998 by Suzy Wilson, is known for its events, which have previously featured former governor-general Dame Quentin Bryce and former prime minister Kevin Rudd.

It will complement the developer’s neighbouring project at the former TAB site at 360 Riding Rd, Bulimba, which currently has plans before council. The mixed-use, $15m proposal includes 14 luxury two and three-bedroom apartments, a cafe and the commercial rooftop space with a swim-up bar which will offer “beach club” vibes.

“We fought hard to get both sites,” Mr O’Donnell said. “These two projects will be at the forefront of Oxford St so they need to look really good.”

The deal took a year to be brokered by Ray White Commercial Trade­Coast agents Marc Zietsman and Jay Jones, with costs of the sale and redevelopment undisclosed.

“We are constantly finding, day in day out, that the vacancies available are unsuitable for many prospective businesses, and it is clear, from the limited development that has occurred in the past 18 months, that given the right space, businesses can thrive in the Oxford St precinct,” they said.