Unison secure residential development site in Brisbane's Herston
Billionaire John Van Lieshout's Unison Projects has secured a residential development site in Herston.
They've spent $6.88 million on a 2,023 sqm site across 51-53 Bramston Terrace and 7 Weightman Street.
Shannon Down of Unison Projects said there was limited zoned land in Herston able to be secured for development.
“With Herston only a small suburb located 2km from the Brisbane CBD, we recognised the unique opportunity presented to secure, a rare, over 2000sqm corner site that has Council planning support for apartments,” Down said.
“Herston has more recently been devoid of good quality new apartments, this site is the second holding Unison has secured, and represents a unique opportunity to design and deliver a landscape rich high-quality apartment project designed by Ellivo Architects and WILDStudios.
“We foresee a high level of interest from purchasers who seek large liveable apartments within boutique scale projects that have a high level of local amenity."
This project is within walking distance of King Street and James Street lifestyle centres, while also being in close proximity to public transport offerings such as the Inner Northern Busway and Brisbane Metro, which is due to be completed and operational this year.
Unison are set to work on the new site after they've delivered their near Herston project on Fleming Road, where they're developing 22 four-bedroom terrace homes.
Colliers Queensland Executive of Residential Site Sales James Matley said the site was the second property Unison Projects has purchased in the Herston precinct in the last few years.
“This not only demonstrates the strength of the Brisbane market but is testament to the strength of the growing demand for development sites in the Herston area given significant incoming projects like the Victoria Park and Herston Quarter redevelopments," Matley says.
Colliers Queensland Director of Development Sites Adam Rubie said this site presented an excellent opportunity for interested parties to deliver a high-end project.
“We are confident that Unison Projects will be able to take full advantage of the location and potential of the site,” Rubie said.
“During the campaign, well-known property developers were not only attracted to the underlying planning opportunity, but the site sits on one of the highest north facing ridges in Herston.
“It immediately adjoins the Royal Brisbane and Women’s Hospital and $1.1 billion Herston Quarter Redevelopment. It also neighbours the 1938 built and now heritage listed Dental Hospital and College and is about 400 metres from the master planned 45Ha $83 million Victoria Park redevelopment project, due to commence in the coming years.
“In addition, this site is also close to the community centric Brisbane Showgrounds redevelopment and lifestyle destination incorporating wellness, retail and cultural spaces,” Rubie added.