Walker Corporation purchase Fortitude Valley development site

Walker Corporation purchase Fortitude Valley development site
Walker Corporation purchase Fortitude Valley development site

In a further sign of confidence in the Brisbane residential market, Walker Corporation has snapped up a 3,500 square metre development site in the city's Fortitude Valley for $22.2 million.

The 80 McLachlan Street site is in the early stages of planning for what will be a 15 level twin tower residential development of 336 apartments.

The site has been purchased with a delayed settlement period which will allow Walker to develop a full plan for the site, which pending on local council approval, will end up being a mixed use residential, retail and lifestyle development, linking the city to the Valley.

The vendor was AP Eagers. 

Walker is "bullish about the future of residential development in Brisbane", following the success of its $150 million Westmark Milton development in Milton, where 68% of the 171 apartments in tower one have been pre-sold. 

"With construction on the site to commence in June, 2014, buyers are being driven by an inner city undersupplied by quality stock and interstate buyers seeking a toehold in fast-moving Brisbane residential market", said the company. 

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