CPG Confirms Prominent Sunland Site Is Under Contract For $43.5 Million

Consolidated Properties Group has today confirmed it has gone to contract on 600 Coronation Drive, Toowong for $43.5million.

The 15,000sqm acquisition from Sunland was handled by Adam Rubie and Brendan Hogan of Colliers International following a global EOI campaign.

James MacGinley, COO of Consolidated Properties Group, said the transaction was incredibly exciting for the company and was arguably the best residential, riverfront site in Brisbane.

“We’re thrilled to have acquired the landmark site and look forward to transforming it into luxury, riverfront apartments over the coming years.

“While it’s still early days, we’re eager to continue to work with the local residents and Brisbane City Council in determining the best outcome for the community, all the while preserving the heritage building onsite.

“We’re engaged in ongoing discussions with Council to discuss its aspirations for the Green Bridge. These discussions are welcome, and we look forward to the next stage of the process following their public consultation period,” said MacGinley.

Concept planning is now underway with community consultation set to begin shortly. The designs will be no higher than 15 storeys to comply with Brisbane City Council’s City Plan and the site’s heritage listed Middenbury House will be made accessible to the public for the first time since it was built as a private residence in 1865. Pending approvals, the project could be launched to market by the end of 2021.