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 South Brisbane.
It was revealed this week that Queensland property group Stockwell was the buyer of South Brisbane’s Parmalat milk site, which is now proposed to be part of a bigger development across several sites.
A 15-year masterplan for those sites, totalling five hectares, has been unveiled, including 12 residential towers and close to 200 eateries, cafes and entertainment venues.
A development application for the first stage, which will consist of 299 apartments in a 30-level tower on the vacant Pauls Milk site between Montague Road and Boundary Street, is expected to be lodged very soon. The site will later include a 400-room hotel.
The wider masterplan involves turning the Queensland Theatre car park into Kurilpa Square, modelled after New York’s Times Square.
Montague Rd would be raised and transformed into a flood-resilient, tree-lined high street and a pedestrian link along Boundary Rd would funnel people toward the river.
There is also a proposed “beer mile” better linking South Brisbane to Suncorp Stadium and advocates for easier access to Kurilpa Bridge.
The developer also revealed plans for the area to be a 2032 Games hub featuring a champions park, sport climbing and skateboarding venues, and a riverside pavilion inspired by a mussel.
The Parmalat site will close in September, with a decommissioning and demolition scheduled for February
Market Snapshot – South Brisbane
| Median house price | House annual price growth | Houses sold over past 12 months | Median Unit price | Unit annual price growth | Units sold over the past 12 months | Population | Median age of residents | % of homes rented |
| $883,000 | 27.97% | 40 | $750,000 | 18.11% | 461 | 14,292 | 29 | 70.4% |
Source: CoreLogic, ABS 2021 Census
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