One of the last remaining privately owned parcels within Brisbane’s expanding South Bank precinct has been listed for sale, marking a significant opportunity for developers to secure a rare piece of river-adjacent land in one of the city’s most rapidly evolving areas.
Colliers Queensland has launched an Expressions of Interest campaign for the 1,917 square metre property at 176 Montague Road, South Brisbane. The site includes concept plans by MAS Architecture for a potential 20 storey mixed use apartment tower comprising around 190 one, two and three bedroom residences, subject to council approval.
The listing follows the Queensland Government’s recent confirmation that the neighbouring Visy industrial site will be transformed into a large scale mixed use community. That redevelopment is expected to deliver more than 4,000 new homes, along with parkland, entertainment venues and riverfront promenades, forming a major new extension of the South Bank precinct.
According to Colliers Queensland Chief Executive Simon Beirne, the property represents one of the final opportunities for a private developer to participate in the precinct’s next wave of transformation.
“Interest in this site is already building. With the precinct to be transformed into one of Brisbane’s most liveable communities and the Brisbane River just moments away, this is a rare chance for a developer to shape a legacy project in the lead up to the 2032 Olympic and Paralympic Games,” Mr Beirne said.
Mr Beirne said much of the surrounding Montague Road corridor has already been consolidated by the Queensland Government and major developers, limiting future availability in what he described as a “strategic and generational” precinct.
“This corridor has changed dramatically in the past decade and will continue to evolve as South Brisbane expands toward West End and the Kurilpa riverfront,” he said.
The site is located approximately 1.5 kilometres from Brisbane’s CBD and is within walking distance of West Village, Fish Lane, Melbourne Street, Boundary Street and the South Bank cultural and lifestyle precinct.
Colliers Residential Director Brendan Hogan said the site’s positioning places it within one of the most supply constrained parts of the inner city market.
“New apartment supply in inner Brisbane remains severely constrained, and we expect price growth in this premium segment to continue,” Mr Hogan said. “Demand is strong for premium, well positioned apartments, and this site gives a developer the chance to create something iconic in one of Brisbane’s most sought after locations.”
Colliers data shows that apartment sales volumes in inner Brisbane have continued to strengthen over the past 12 months, driven by record low vacancy rates and strong interstate migration.
According to Colliers and Urbis figures, the average off the plan apartment price in inner Brisbane has increased by 147 per cent since 2020, rising from $816,096 to $2.015 million as of the second quarter of 2025.
Colliers Investment Services National Director Hunter Higgins said the existing building on site provides immediate income while development plans progress.
“The property currently comprises a modern two level commercial office building with secure parking for 21 vehicles, and is tenanted by Fitness & Lifestyle Group, one of Asia Pacific’s leading health and wellness operators,” Mr Higgins said.
“With a strong national tenant in place, developers can benefit from short term income while preparing to bring their vision for the site to life,” he said.
Mr Higgins added that proximity to public transport, local retail and riverfront amenities made the property particularly appealing. “This location is truly unrivalled — it’s a short walk to everything that defines the South Brisbane and West End lifestyle, from West Village and Fish Lane through to Davies Park and the South Bank parklands,” he said.
The sale campaign is being managed by Colliers Queensland executives Simon Beirne, Hunter Higgins and Brendan Hogan.
Expressions of Interest for 176 Montague Road close at 4:00 pm (AEST) on 20 November 2025.
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This site should become a new Prep to Year 12 school to cater for the influx of new residents in the area while the ole Paul’s site becomes an extension of the Cultural Centre.
I know I am yelling into the wind here, but what is the plan for traffic management? We have all been asking this of every new high rise development that has been put forward for this area. Montague road is a two lane road that already moves very slowly in peak times. There are many turn offs and little opportunity for expansion of the roadway. And what of the towering buildings that begin to create dark spaces and wind tunnels. More parks, more low rise and more non-residential use are needed along this road, not more and more apartments. Please take a breath and create a community/people/movement plan for this area!
I agree with the comment above – how many new high rise buildings will be championed before someone plans how to manage the traffic. The long awaited new ferry stop near Davies Park has not eventuated and traffic along Montague Rd will be stretched beyond its capabilities. BCC please take note!