Last private South Brisbane site listed for sale
One of South Bank’s last privately-owned sites, across the road from a planned mixed-use precinct, is for sale.
A 1917 sqm land parcel located on Montague Road and central to the South Bank expansion precinct was officially on the market.
Almost all other major sites within the area were already secured by the government and developers.
Last week, the Queensland Government announced plans to turn the site across the road, formerly Visy Industrial, into a mixed-use precinct. The site was expected to deliver more than 4000 homes, green public spaces, entertainment precincts and riverfront promenades.
Specialists from Colliers Queensland, Simon Beirne, Hunter Higgins and Brendan Hogan would be fielding inquiries for the site.
Simon Beirne said this site offered a last chance for buyers to enter the market before an expected Olympics rush.
“Interest in this site is already building. With the precinct to be transformed into one of Brisbane’s most liveable communities with the Brisbane River just moments away, this is a rare chance for a developer to beat the rush and shape a legacy project in the lead-up to the 2032 Olympic and Paralympic Games,” Beirne said.
The site included concept plans by MAS Architecture for a 20-storey project with 190 one, two and three-bedroom apartments, subject to council approval.
The Montague Road site was located 1.5 km from the CBD and within walking distance of West Village, Fish Lane, Melbourne Street, Davies Park, Boundary Street and South Bank precinct.
Colliers Residential Director, Brendan Hogan, said centrally located sites like gained interest because of a chronic undersupply in Brisbane’s apartment sector.
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“New apartment supply in inner Brisbane remains severely constrained, and we expect price growth in this premium segment to continue,” Hogan said.
According to data from Colliers and Urbis, the average off-the-plan apartment price in Brisbane increased by 147 per cent since 2020, from $816,096 to $2.015 million as of 2025’s second quarter.
Colliers Investment Services national director, Hunter Higgins, said the site consisted of a modern two-level building with undercover parking, which is tenanted by the Fitness & Lifestyle Group.
“With a strong national tenant in place, developers can benefit from immediate income while bringing the development vision to life,” Higgins said.
