Colliers has released a development opportunity with the listing of the 35 Merivale development at 35-39 Merivale Street, South Brisbane.
Spanning 1,821 sqm, the site has Development Approval (DA) for a 30-storey apartment tower which comprises 184 owner-occupier apartments and ground-floor retail.
DBI Design’s approved design of the scheme emphasises larger living spaces, as the current design provides for a predominance of two-, three- and four-bedroom apartments.
Developers also have the flexibility to amend the 35 Merivale scheme to maximise profitability or consider Build to Rent outcomes (STCA), subject to Council approval.
Construction on the site has already begun, with significant progress made on the four-level basement and podium levels. This reduces construction risks and shortens delivery timelines for prospective developers.
35 Merivale is positioned just moments from South Bank, QPAC, the Melbourne Street/Fish Lane dining and entertainment areas, the Brisbane Convention and Exhibition Centre, and infrastructure such as the new Brisbane Metro and Neville Bonner pedestrian bridge linking to the Queens Wharf Casino.
“Seldom does an opportunity situated in the heart of Brisbane’s best cultural and lifestyle precinct become available. This approved development site presents a chance to deliver a striking residential project that is development ready.
“With significant construction works already completed, including the four-level basement and podium car park levels, the future developer will benefit from reduced construction risks and timeline and capitalise on the ability to immediately enter the market.
“The site’s strategic position provides excellent view corridors of the Brisbane River, CBD and Queens Wharf Casino as well as across the Cultural precinct and South Bank Parklands. It also benefits from immediate public transport access including train, the new Brisbane Metro service and ferry.
“This is one of the most compelling residential development opportunities we’ve seen in South Brisbane in years. This is more than just a development site – it’s an opportunity to be part of the future of inner Brisbane living. With soaring demand for apartments, limited supply, and the 2032 Olympics driving infrastructure investment, this project is ideally timed for success.”
Troy Linnane, Queensland Residential Director, Colliers
Colliers experts Brendan Hogan and Troy Linnane have been exclusively appointed under instruction from Receivers and Managers, FTI Consulting.
“Colliers anticipates significant interest from local, interstate and offshore developers, being a compelling opportunity for both Build to Sell and Build to Rent outcomes (STCA).
“South Brisbane commands premium pricing for new projects, from both an apartment pricing and rental perspective, and continues to set new Brisbane-wide benchmarks with every new release.
“The development site market in Brisbane has excellent fundamentals which are seen as having the best growth prospects of any city on the eastern seaboard of Australia.
“Recent sales trends in the inner-city new apartment market show continued strong growth, with average inner-city apartment prices reaching $2.85m in the final quarter of 2024, driven by buyer appetite for luxury, convenience and lifestyle proximity.”
Brendan Hogan, Queensland Residential Director, Colliers
The inner-city apartment market in Brisbane continues to experience significant growth, with increasing demand for premium residences. Colliers anticipates interest from local, interstate, and international developers, as the site presents opportunities for both Build to Rent and Build to Sell schemes.
35 Merivale is being offered through an Expressions of Interest campaign, which closes on 9 July 2025 at 4pm AEST.
