Consolidated Properties buys controversial former ABC site in Brisbane for $43.5m
A high profile Queensland developer has paid $43.5m for the controversial former ABC site on the Brisbane River.
Acquisitive Queensland developer Consolidated Properties has emerged as the $43.5m purchaser of one of Brisbane’s most controversial sites, the former ABC headquarters fronting the city’s serpentine river.
The 1.5 hectare site, on Coronation Drive, Toowong, was purchased by the listed Sunland group in 2013, following a breast cancer cluster among female staff. Most structures on the site have since been demolished or fully remediated. Subsequent testing reveals the site is completely remediated, Consolidated Properties said last night, adding that it had purchased the site with two other undisclosed business partners in tow.
The company, which is chaired by Don O’Rorke, intends to transform the site with at least two luxury apartment towers, over the next few years.
Consolidated Properties chief operating officer James MacGinley, said the site was arguably the best residential riverfront address in Brisbane.
“We’re thrilled to have acquired the landmark site and look forward to transforming it into luxury, riverfront apartments over the coming years,’’ Mr MacGinley said in a statement.
“While it’s still early days, we’re eager to continue to work with the local residents and Brisbane City Council in determining the best outcome for the community, all the while preserving the heritage building onsite,’’ he said.
Concept planning for the site is now underway with community consultation set to begin shortly.
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