Property consultancy Colliers has launched a ‘rare’ inner-city development site in Fortitude Valley, with the potential to deliver new Build to Rent homes at the gateway to the Olympic precinct, to the market. It aims to offer a timely solution to the city’s growing need for apartments and hotel accommodation ahead of the 2032 Games.
Colliers Queensland Residential Development Sites Directors Brendan Hogan expert Troy Linnane have been appointed to sell the site at 70–82 Wickham Street in Fortitude Valley, known as ‘Landmark Brisbane’.
Spanning 2,416 sqm across three street frontages, the site occupies a prominent gateway position at the convergence of the Brisbane CBD, Fortitude Valley and New Farm, placing it at the heart of the city’s most dynamic lifestyle, employment and growth corridors.
Concept plans have been prepared by architects Cottee Parker for striking residential schemes outlining 25 and 40 storeys, delivering 350+ apartments on both Build to Rent and Build to Sell scenarios, subject to council approval.
Brendan stated that the site was positioned just moments from Howard Smith Wharves, Brisbane’s premier riverfront dining and entertainment precinct, and only about a 15-minute walk to the Victoria Park Olympic precinct.
“This is one of the most compelling inner-city development sites Brisbane has seen in recent years and we are already seeing strong market interest from a range of local, interstate and offshore developers, as well as institutional investors and high net worth individuals.
“Inner-city Brisbane is experiencing an acute undersupply of apartments, with vacancy rates below one per cent and new residential projects achieving over $20,000 per sqm.
“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, making it a great time to invest.”
Brendan Hogan, Queensland Residential Development Sites Director, Colliers
The site boasts 360-degree view corridors, including uninterrupted outlooks across the adjoining park to the Story Bridge and Brisbane River, alongside sweeping views of Brisbane’s iconic CBD skyline, a highly sought-after attribute for future high-density residential and mixed-use development.
Troy said the surrounding precinct was undergoing rapid gentrification, underpinned by premium residential developments, lifestyle-driven demand and strong population growth.
“Southeast Queensland’s population growth is driving unprecedented demand for inner-city apartments, making high-quality development sites in prime locations increasingly scarce. The sites’ gateway positioning, river and skyline views, and proximity to the Olympic precinct create a once-in-a-generation opportunity to develop a truly world-class project.”
Troy Linnane, Queensland Residential Development Sites Director, Colliers
The property is currently improved by a two-storey retail and commercial complex totalling 3,465 sqm of net lettable area, providing holding income prior to redevelopment.
The site is code assessable to 25 storeys, however, surrounding development precedent combined with the recently released Fortitude Valley Sustainable Growth Precinct Plan supports increased density, with potential for over 40 storeys subject to council approval, offering genuine upside and long-term value creation.
