Pradella secure their next Brisbane apartment development
Queensland-based property developer Pradella has secured its next Brisbane apartment development site.
They've paid $6.1 million for a 1,083 sqm site in Toowong, opposite Toowong Memorial Park.
The corner site at 70 Sylvan Road is zoned for medium-density residential and has development potential for an eight-storey residential development.
The property is currently fully occupied by a mix of residential and office tenants on short-term leases.
There had been strong developer interest in the suburb, CBRE's Adelaide O’Brien and Will Carman said.
"The location has been a great success story for local and interstate developers who recognise its attraction to both the owner occupier and investor market,” O’Brien said.
“The property has the ability to generate a robust fully leased net annual income providing Pradella with secure earnings to strategise for future development.”
Toowong is located between Mount Coot-tha and the north bank of the Brisbane River and is surrounded by successful Brisbane developments by companies such as Mosaic, BPM and Consolidated Properties.
Joel Robinson
Joel Robinson is the Editor in Chief at Apartments.com.au, where he leads the editorial team and oversees the country’s most comprehensive news coverage dedicated to the off the plan property market. With more than a decade of experience in residential real estate journalism, Joel brings deep insight into Australia’s evolving development landscape.
He holds a degree in Business Management with a major in Journalism from Leeds Beckett University in the UK, and has developed a particular expertise in off the plan apartment space. Joel’s editorial lens spans the full lifecycle of a project—from site acquisition and planning approvals through to new launches, construction completions, and final sell-out—delivering trusted, buyer-focused content that supports informed decision-making across the property journey
