News & Research

Commercial Wins The Day

One of the last remaining cleared development sites in Fortitude Valley, 172 - 188 Wickham Street/29 Ranwell Lane, has been the subject of several development applications over the years with them mainly being residential and/or hotel. Defying the current trend to convert all and sundry into apartment blocks, the owners, interests associated with Singaporean developers, have sought to alter the last approved application from 2014 to pivot it to a commercial development. The development would now comprise a two-stage, two-tower commercial development with ground floor retail and a pedestrian laneway linking Wickham Street to Ranwell Lane.

Stage One will include a 30-storey commercial office tower with retail, commercial lobby, wellness facility, EOT lounge, landscaping, recreation deck and function space. Nine lifts will service the building.

Stage Two will be a five-storey commercial building comprising car parking on the lower ground floor to Ranwell Lane; a cafe and lobby on the ground floor, with void space above and three levels of office space above that. Two lifts will service the building. The development will include a total of 176 car parks, 293 bicycle spaces and a gross floor area of 36,137 sqm, comprised of 35,648 sqm commercial and 489 sqm retail. The architects will be Nettleton Tribe.

The Singaporean owners bought the properties in two transactions in 2014 for a total of $8.5 million.

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CoreLogic Australia

CoreLogic Australia

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