By using this site, you agree to the Privacy Policy and Commenting Policy.
Accept
Brisbane DevelopmentBrisbane DevelopmentBrisbane Development
  • Areas
    • Brisbane CBD
    • Northern
    • Southern
    • Eastern
    • Western
    • Gold Coast
  • SEQ Development Maps
    • Brisbane Development Map
    • Gold Coast Development Map
  • Major Precincts
    • Brisbane 2032 Olympics
    • Queens Wharf Precinct
    • Brisbane Live
    • Waterfront Brisbane
  • Infrastructure
    Infrastructure
    Discover the future of infrastructure development in Brisbane on BrisbaneDevelopment.com. Explore the city’s ambitious projects, innovative designs, and sustainable initiatives shaping its urban landscape. Stay…
    Show More
    Top News
    Concept Victoria Park Olympic Stadium by Archipelago
    Olympic Recalibration: Key Recommendation of New Stadium Rejected by Government
    18 March 2024
    east west mass rapid transit
    Brisbane Needs an East-West Mass Rapid Transit
    18 October 2023
    Rendering of the Brisbane Metro at Cultural Centre Station. Source: Brisbane City Council
    The Chorus Grows: Demands Mount for BCC to Rename Brisbane’s ‘Not-So-Metro’ Metro
    30 October 2023
    Latest News
    Grand Stair and Revamped Facades Highlight New HSW Proposal Amendments
    14 May 2025
    Colmslie Wharves to Deliver $100 Million Boost to Brisbane Economy
    22 April 2025
    Brisbane Live is Still Alive After Pivot Away from Olympic Funding
    27 April 2025
    Olympic Plan Locked In: Brisbane Stadium, National Aquatic Centre and Gabba Renewal
    22 April 2025
Search
  • Advertise
© 2025 Brisbane Development Pty Ltd. All Rights Reserved
Reading: Destination Brisbane Purchases Major $45 Million CBD Car Park Site
Share
Sign In
Notification Show More
Font ResizerAa
Font ResizerAa
Brisbane DevelopmentBrisbane Development
  • Areas
  • SEQ Development Maps
  • Major Precincts
  • Infrastructure
Search
  • Areas
    • Brisbane CBD
    • Northern
    • Southern
    • Eastern
    • Western
    • Gold Coast
  • SEQ Development Maps
    • Brisbane Development Map
    • Gold Coast Development Map
  • Major Precincts
    • Brisbane 2032 Olympics
    • Queens Wharf Precinct
    • Brisbane Live
    • Waterfront Brisbane
  • Infrastructure
Have an existing account? Sign In
Follow US
  • Advertise
© 2024 Brisbane Development Pty Ltd. All Rights Reserved
Brisbane Development > Major Precincts > Queens Wharf Precinct > Destination Brisbane Purchases Major $45 Million CBD Car Park Site
Queens Wharf PrecinctUncategorized

Destination Brisbane Purchases Major $45 Million CBD Car Park Site

Last updated: 10/05/16 at 12:43 PM
Share
3 Min Read
major cbd car park
major cbd car park
SHARE

Queens Wharf Integrated Resort developer Destination Brisbane Consortium has purchased Brisbane’s Festival car park on Charlotte Street for $45 Million.

The consortium will own and operate the nine storey car park in a move believed to bolster car parking numbers during the construction of the massive casino resort precinct which is located just 130 metres from the site.

Aerial image of site purchased by Destination Brisbane Consortium
Aerial image of site purchased by Destination Brisbane Consortium. Source: Supplied

The transaction was negotiated by Knight Frank’s Ben McGrath and Justin Bond in conjunction with JLL’s Geoff McIntyre and Seb Turnbull, on behalf of Seymour Property Group. The property was sold individually after being marketed as part of a portfolio of three assets late last year.

According to Knight Frank’s Ben McGrath, Managing Director, Queensland, “The car park offered investors a unique opportunity in the heart of Brisbane’s CBD, rarely available to the market.

Advertisement

“With the car park currently leased short term to Secure Parking Australia, it provided investors with the opportunity to acquire the facility either as a leased investment or for owner operation”.

“The large 1,835sqm site also provides future development potential, and with the recent announcement of the Queens Wharf development and major infrastructure earmarked for George Street, this will only enhance the value of this precinct,” said Mr McGrath.

JLL’s Managing Director Queensland, Geoff McIntyre, said the freestanding carpark generated a lot of interest from investors.

Advertisement

“Our international marketing campaign identified a large number of domestic and foreign investors, and we were pleased with the number of HNWI (high net worth individuals) interested in purchasing the property.

Aerial image of site purchased by Destination Brisbane Consortium
Aerial image of site purchased by Destination Brisbane Consortium. Source: Supplied.

“The proposed Queens Wharf project holds appeal for many foreign investors for existing assets in this precinct, especially Asian investors, who are attracted to the benefits of the future casino, hotel, retail and transport amenity earmarked for the area.”

As Brisbane’s only inner city standalone car park, the nine-storey complex includes 429 secured parking bays and a small retail tenancy leased to Hertz Car Rental. The Purchase included the majority ownership of the asset which included 412 car bays and the retail tenancy improvements. The property is located in the core of Brisbane’s midtown precinct along Charlotte Street, approximately 500 metres south-west of Brisbane’s GPO, and benefits from close proximity to the iconic Queen Street Mall and Treasury Casino.

45 Charlotte Street is also ideally positioned adjacent to the future Queens Wharf development; the highest profile and most significant development in Brisbane since South Bank was completed in 1988.

Donkin Street Precinct Proposed
A look Into Pointcorp’s Newest Teneriffe Development
New Gym for Clem Jones Centre
15 Green Square Close, Fortitude Valley
New Commercial Tower Proposed for China Town Mall
TAGGED:brisbanecarcarparkcasinocharlotteconsortiumdestinationintegratedparkprecinctstreet

Sign Up to BD Newsletter

Be keep up! Get the latest breaking development news delivered straight to your inbox.
By signing up, you agree to our Commenting Policy and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp Email Copy Link Print
Share
What do you think?
Love0
Happy0
Surprise0
Sad0
Angry0
Previous Article Why 443 Queen Street is an Exemplary Example of Subtropical Design
Next Article For Sale: 33 Jurgens Street, Woolloongabba
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

13kFollowersLike
2kFollowersFollow
6.2kFollowersFollow
3.2kSubscribersSubscribe
LinkedInFollow
Advertisement

Latest News

Architectural rendering of the grand public river stars from above
Grand Stair and Revamped Facades Highlight New HSW Proposal Amendments
Brisbane CBD Entertainment / Leisure Featured Hotel Infrastructure
14 May 2025
Architectural rendering of 37 and 39 Browning Street, South Brisbane
Proposed 11-Storey Residential Development for Browning Street, South Brisbane
Featured Residential Western
14 May 2025
Architectural rendering of Seymour Group's 99 Breakfast Creek Road, Newstead development
Legal Standoff Resolved, Paving Way for Major Newstead Green Development
4006 - Newstead, New Farm, Fortitude Valley Brisbane Retail Featured Northern Residential
13 May 2025
Artist's rendering of proposed Future South Bank - Aerial
Calls for ‘South Bank 2.0’ Resurface as State Reconsiders Visy Site Plans
Brisbane 2032 Olympics Entertainment / Leisure Featured Western
9 May 2025

Polls

Select two infrastructure projects needed most ahead of the Brisbane 2032 Olympics

View Results

Loading ... Loading ...
  • Polls Archive
//

Brisbane’s leading source of free development and infrastructure news reporting across the greater Brisbane area.

Quick Link

  • ADVERTISE WITH USNew
  • PRIVACY POLICY
  • COMMENTING POLICY
  • CONTACT US
  • MY BOOKMARK

Top Categories

  • BRISBANE DEVELOPMENT MAP
  • BRISBANE CBD
  • QUEEN’S WHARF
  • BRISBANE 2032 OLYMPICS
  • SMART GROWTH SERIES

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Brisbane DevelopmentBrisbane Development
Follow US
© 2025 Brisbane Development Pty Ltd. All Rights Reserved
Join Us!
Subscribe to the BrisbaneDevelopment.com newsletter and never miss our latest news.
Zero spam, Unsubscribe at any time.