Former Albion Flour Mill Site Hits the Market: Plans for a Mixed-Use Development of 456 Apartments and Retail Supermarket

With the Brisbane residential apartment market significantly undersupplied strong interest is expected from local, interstate and offshore developers and investors for ‘The Albion’

Redevelopment of the former Albion Flour Mill site, with plans for 456 residential apartments across two towers and retail including a full line Woolworths supermarket, is one step closer, with the site hitting the market exclusively through Colliers today.

Located in one of Brisbane’s most desirable inner-city localities, the 5,586m² site, ‘The Albion’, is being offered for sale by Colliers experts Troy Linnane, Robert Papaleo and James Wilson at 60-78 Hudson Road Albion on behalf of Woolworths.

Designed by Cottee Parker Architects, the mixed-use project includes 456 residential apartments across two towers. These towers rise up to 18 storeys and are set on a common podium to allow for integrated retail spaces and direct public access to the adjoining Albion Train Station. The proposal also includes a full line 4,000m² ground-floor Woolworths supermarket, BWS and Cafe and multiple recreational and communal spaces for both residents and visitors.

Colliers Queensland Residential Director Troy Linnane said the record population growth being experienced in SEQ is driving exceptional demand into Brisbane’s apartment market making development site opportunities in key inner city locations highly sought after.

“Brisbane is now Australia’s second most expensive capital city housing market, with limited new apartment supply despite acceptance of higher prices,” Troy Linnane said.

“With exceptional level of demand for apartments, especially in the inner-north, this development located in Albion’s urban renewal precinct will offer 456 studio, one, two and three bedroom apartments.

“We are expecting to see strong interest from local, interstate and offshore developers, with a compelling opportunity for both build to rent and build to sell outcomes, as well as investors and high net worth individuals.

“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. The average sale price for inner-city new apartment stock soared to a new peak of $2,083,000 in Q2 2024,” Troy Linnane added.

Colliers Residential Capital Markets National Director Robert Papaleo said the Australian Build To Rent (BTR) market is still growing and rapidly evolving with an influx of both domestic and international capital seeking opportunities to diversify their investment into key locations that remain undersupplied.

“New BTR projects in key Brisbane locations, especially those benefitting from accessibility to key transport and retail infrastructure and derisked by inclusion of leased retail amenities, such as a Woolworths at this site, will attract strong purchaser interest,” Robert Papaleo said.

“A growing number of Development Applications have emerged in inner-Brisbane, that highlight the increasing confidence in the Brisbane market.

“The Brisbane BTR market until recently has been driven by private operators and capital delivering smaller projects whereas Brisbane is now on the national radar with the attraction of sophisticated institutional capital,” Robert Papaleo added.

Colliers Head of Retail Middle Markets James Wilson said the site offered further retail amenity to the growing area, and on completion would offer a new Woolworths supermarket.

“Upon completion, the retail will comprise a full line 4,000m² Woolworths Supermarket, BWS and a café that will provide much needed amenity to the rapidly evolving Albion precinct,” James Wilson said.

“Colliers recently transacted another Fabcot owned development site at Kangaroo Point for $18,250,000 to Mosaic Property Group which has reported strong sales since it launched in late 2024, highlighting demand for these mixed use development sites underpinned by Woolworths Supermarkets remain highly sought after.”

‘The Albion’ is within 5 kilometres north of the Brisbane CBD and immediately adjacent to the Albion Railway Station. Therefore, proximity to public transport, Brisbane CBD, as well as key employment nodes such as the Brisbane Airport and Royal Brisbane and Women’s Hospital makes it ideally located.

This exclusive listing is offered for sale via an on-market expressions of interest (EOI) campaign closing Thursday, 27 March 2025 at 4:00pm (AEST).