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89 Adelaide Street

Brisbane Buyers Agent Insights – What’s happening in Brisbane City – New supermarket destined for Adelaide Street building

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As a top Brisbane buyers agent, we’ve always got our finger on the pulse of the Brisbane property market. Check out what’s happening in Brisbane City.

A new Coles ‘Local’ store is set to open at 89 Adelaide Street in the Brisbane CBD after a development application for changes to the building were approved.

The supermarket will be the second of its type for Brisbane, with the first Coles Local proposed for Taringa, in Brisbane’s inner west. Coles Local supermarkets are described as offering a tailored in-store experience, incorporating the goods of local butchers, bakers and cafes, and are smaller than the usual format.

The development application for 89 Adelaide Street was lodged in October 2019 and sought to revitalise the podium facades of the existing building fronting Burnett Lane, Albert Street Mall and Adelaide Street.

As well as a 1600 sqm supermarket, the development could include retail and food and drink outlets and potentially a gym in the basement tenancy.

Market Snapshot – Brisbane City

Median house price House average annual price  growth Houses sold over past 12 months Median Unit price Unit average annual price  growth Units sold over the past 12 months Demand level Population Median age of residents % of renters
N/A N/A N/A $486,000 1.05% 406  Average 9,460 29 59.4%

Source: Realestate.com.au, CoreLogic, ABS 2016 Census

 

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