’35 Merivale’ – A Landmark Residential Development Opportunity in the Heart of South Brisbane

An undersupplied Brisbane residential apartment market will see significant interest from local, interstate and offshore developers

A rare site that offers the chance to shape the future of South Brisbane’s skyline and deliver a luxury residential project has arisen with the listing of ‘35 Merivale’ located at 35-39 Merivale Street, South Brisbane.

Designed by DBI Design, the 1,821sqm site comes with development approval for a 30-storey apartment tower with 184 generous, owner occupier apartments and ground-floor retail. The current design provides for a predominance of 2, 3 and 4 bedroom apartments with flexibility to amend the scheme to maximise profitability or consider build to rent outcomes (STCA).

Construction has already commenced, with significant work completed on the four-level basement and podium level — reducing construction risks and affording the future developer a substantial reduction in project delivery timeframes.

Colliers experts Brendan Hogan and Troy Linnane have been exclusively appointed under instruction from Receivers and Managers, FTI Consulting.

Colliers Queensland Residential Director Troy Linnane said, “Seldom does an opportunity situated in the heart of Brisbane’s best cultural and lifestyle precinct become available. This approved development site presents a chance to deliver a striking residential project that is development ready.”

“With significant construction works already completed, including the four-level basement and podium car park levels, the future developer will benefit from reduced construction risks and timeline and capitilise on the ability to immediately enter the market,” Troy Linnane said.

“The site’s strategic position provides excellent view corridors of the Brisbane River, CBD and Queens Wharf Casino as well as across the Cultural precinct and South Bank Parklands. It also benefits from immediate public transport access including train, the new Brisbane Metro service and ferry.

“This is one of the most compelling residential development opportunities we’ve seen in South Brisbane in years.

“This is more than just a development site—it’s an opportunity to be part of the future of inner- Brisbane living. With soaring demand for apartments, limited supply, and the 2032 Olympics driving infrastructure investment, this project is ideally timed for success,” Troy Linnane added.

Colliers Queensland Residential Director Brendan Hogan said, “Colliers anticipates significant interest from local, interstate and offshore developers, being a compelling opportunity for both build to sell and build to rent outcomes (STCA).”

“South Brisbane commands premium pricing for new projects, from both an apartment pricing and rental perspective, and continues to set new Brisbane-wide benchmarks with every new release.

“The development site market in Brisbane has excellent fundamentals which are seen as having the best growth prospects of any city on the eastern seaboard of Australia.”

“Recent sales trends in the inner-city new apartment market show continued strong growth, with average inner-city apartment prices reaching $2.85 million in the final quarter of 2024, driven by buyer appetite for luxury, convenience and lifestyle proximity,” Brendan Hogan added (source: Urbis).

The project is positioned just moments from South Bank, QPAC, the Melbourne Street / Fish Lane dining and entertainment areas, the Brisbane Convention and Exhibition Centre, and infrastructure such as the new Brisbane Metro and Neville Bonner pedestrian bridge linking to the Queens Wharf Casino.

The property, ’35 Merivale’, is being offered for sale via an Expressions of Interest campaign closing Wednesday, 9 July 2025 (4:00pm AEST).