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development opportunity less than a kilometre from brisbane cbd on offer



A unique site less than a kilometre from Brisbane’s CBD has hit the market, offering 5,357sq m at 184 St Pauls Terrace, Fortitude Valley.

The site offers code assessable development potential of up to 20-storeys, 63,440sq m of gross floor area and three street frontages with excellent exposure to St Pauls Terrace.

The existing buildings comprise 2,851 square metres of floor area.

The site sits within 850 metres of the Brisbane CBD, Central Station, Brunswick Street, China Town and the $3 billion RNA Showground rejuvenation.

Related: Fortitude Valley: Australia’s Most Exciting Urban Renewal

Location

Fortitude Valley is a vibrant destination, nationally recognised for its immediate proximity to the Brisbane CBD and an area of high focus for the Brisbane City Council’s planned growth for Brisbane.

The precinct’s key attributes are:

  • Strategic inner-city location, a natural extension of the Brisbane CBD

  • Unrivalled access to retail and lifestyle amenities, including The Brunswick Street Mall, Valley Metro, Gasworks Plaza, James Street retail and dining precinct & The Emporium complex

  • Vibrant and creative character & nightlife, known as Brisbane’s most established entertainment Location

  • Continuous evolution and gentrification

  • Excellent proximity to key public transport infrastructure including Fortitude Valley Train Station

  • Continuous emergence of the precinct as a destination for major corporations.

The future of Fortitude Valley

The property occupies a key position likely to benefit from continued gentrification and redevelopment of the immediate area:

  • Over 8,000 apartments planned in Fortitude Valley and the CBD to be constructed over the next 5 years; including completion of the $600 million FV Flatiron and Valley project, further strengthening the surrounding population base

  • Major planned infrastructure upgrades including the redevelopment of Valley Metro mixed use centre, located directly above the Fortitude Valley Train Station

  • Growing workforce population of Fortitude Valley, expected to reach 32,000 by 2031, an increase of 57 per cent from the 2011 census figure

  • Fortitude Valley likely to benefit from key urban projects such as Howard Smith Wharves

  • Queens Wharf Brisbane and Cross River Rail, further adding to the appeal of inner city living and entertainment

  • State Government Department of Technology and Science established an innovation hub within a 5,600 square metres tenancy in the refurbished TCB Building in 2017 furthering their ability to house small to medium start up organisations in an innovative co-working space in the Brunswick Street Mall

  • David Jones boutique 4-storey store now open on James Street to cater for upmarket clientele.

Improvements

The site at 184 St Pauls Terrace comprises two buildings including an administrative office building and a detached warehouse/stores building. Having been constructed circa mid-1970s, both buildings are predominantly of brick and concrete build.

The main building provides for two levels of office and associated accommodation areas.

The ground floor has a range of perimeter offices along with an auditorium, lecture/seminar rooms, storage areas, full kitchen, lunch room and staff and public toilet amenities.

The first floor provides for primarily perimeter offices with ancillary lunch/tea rooms, public reception area, general storage areas, staff and public toilet amenities.

The additional building is detached from the main building and is a multi-level structure.

The mid-level has a roller door that accesses a small loading dock area which leads to a basic open storage area. There are also ancillary office areas located on this level and the lower level with internal stairs and also male and female toilet amenities.

The lower level has eight line marked under croft car parks and lock up storage rooms. The roof level is utilised as an open air car park with 38 line marked car park.

The site is NABERS exempt.

Closing date for offers is 4pm Wednesday 28 November.



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