The former Albion Flour Mill site has officially hit the market, offering a prime opportunity for developers to invest in one of Brisbane’s key urban renewal precincts.
Read: Albion Reaches New Heights with Proposed Twin Tower Development
The 5586 sqm site, located 5km north of the Brisbane CBD, is being sold by Colliers on behalf of Woolworths and is expected to generate strong interest from local and international developers.
A Brief History of the Albion Flour Mill Site
Built in 1931 by Gillespie Brothers Ltd during the Great Depression, the Albion Flour Mill was Brisbane’s sole operating flour mill for over seven decades before shutting down in 2004. In 2013, the mill was destroyed by fire and later demolished.
Fabcot, Woolworths’ real estate investment arm, purchased the uniquely shaped site in 2020 for $16.5 million, with a preliminary approval already in place for centre activities and multiple dwellings.
Development Plans and Key Features
The proposed development (A006619616) has been designed by Cottee Parker Architects and is planned to include:
- A three-stage development process to be carried out in phases.
- Two 18-storey residential towers with 456 apartments.
- A shared podium featuring integrated retail and commercial spaces.
- A full-line 4000 sqm Woolworths supermarket, a BWS, and a café at ground level, positioned at the corner of Albion and Hudson Road.
- An urban common area serving as a pedestrian link between the development and Albion Train Station.
- Four levels of basement parking, accessible via Albion Road.
A Boon for the Albion Precinct
Colliers Queensland residential director, Troy Linnane, highlighted Brisbane’s record population growth and rising housing demand as key drivers for the site’s high desirability. He pointed out that the city has become the second most expensive housing market among Australia’s capitals, with new apartment supply remaining scarce even as buyers grow more accustomed to higher prices.
Colliers’ head of retail middle markets, James Wilson, added that the project will deliver much-needed residential supply and retail services to the rapidly evolving Albion precinct, enhancing connectivity and community engagement.
Read: Fire Forces Temporary Closure of Albion’s Amore Venue
Strong Market Interest Anticipated
Brisbane’s development site market is experiencing strong demand, with the city being seen as having some of the best growth prospects on Australia’s eastern seaboard. The inner-city apartment market, in particular, has seen record-breaking price surges, with the average sale price reaching $2.083 million in the second quarter of 2024.
With Albion’s transformation gaining momentum, the site presents a prime investment opportunity for developers looking to capitalise on Brisbane’s growing housing market. As the city continues to attract new residents and investors, projects like this will play a crucial role in shaping its urban future.
Published 19-February-2025
