A four-storey, $70-million, mixed-use development is planned for the former Woolworths site on Racecourse Road in Ascot.
The 3,126-sqm property at 77 Racecourse Road on the corner of Kent Street in Ascot is presently the site of a 1960s building previously occupied by Woolworths before IGA and BWS took over. Silverstone acquired the site through an Expression of Interest in late 2021 for $9.75 million on which a high-end development is now being eyed.
Silverstone‘s $70-million project will contain ground-floor retail, medical and allied health spaces, two-level parking, and three-level office space across the four-storey building.
The Racecourse Road site is in proximity to the master-planned Eagle Farm Racecourse community as well as Hamilton’s Olympic Village. These locations along with other surrounding suburbs provide a ready and growing market for the future tenancies of the project.
PDT Architects has been tapped to breathe life into the envisioned building’s design which will have sustainability at the heart of its overall look incorporating green infrastructure, plenty of greens, low-emitting materials and natural light.
The proposal is set to be lodged this July and commencement of construction is targeted by late 2022.
Silverstone Developments’ ongoing projects include the $90-million Spring Hill Day Hospital which is an 11-level private hospital facility with a rooftop terrace on Boundary Street in Spring Hill and the Herston Commercial Car Park near the Royal Brisbane and Women’s Hospital.
Silverstone also recently completed the $122-million Stratton Commercial Building and the E–Co boutique building in Newstead.