Prime Brisbane city site approved for office or hotel development for sale

A prime Brisbane city site, approved for a 91 storey residential tower development, or alternatively an office or hotel, has remained on the market.

Set on a 1,715 sqm holding, 240 Margaret Street provides an opportunity to add to Brisbane city's skyline.

Located in the Midtown Precint the property has direct access to the proposed Cross River Rail and Queens Wharf Precinct.

According to the listing held by Knight Frank, this property provides "an opportunity to capitalise on the comparatively undersupplied Brisbane CBD apartment market."

World Class Global, a Singaporean-listed multinational, are the current owners of the holding.

Singapore-based developer Aspial lodged plans for the 91-storey apartment tower designed by Cox Rayner back in 2016.

The property was for sale through an international expressions of interest campaign which ended November 6.