Payce Consolidated has paid $42 million for a 2.5ha West End Brisbane building site and plans to build up to 1500 apartments in the suburb over the next five years. The concept will be designed by Wingate Properties.
Sydney-based developer Payce acquired the site from Absoe Furniture along with two heritage-listed buildings, the original Peter’s Ice Cream factory and a 1920s brick warehouse that will both be protected.
Wingate director Stephen Williams said, “It is probably the most sought-after site in Brisbane City at the moment and that was the reason we were attracted to it.”
“We will be recreating a public, useable space in keeping with the original green space when the factories were operational. “It will also have 10,000m² of retail and commercial space and a public car park in the order of 450 car spaces.”