Colliers Brokers $20 Million South Brisbane Deal for TRK Property Group

Brisbane, September 2026 —Colliers Queensland has completed a $20 million South Brisbane deal on behalf of a private vendor, with TRK Property Group acquiring the 1,917sqm mixed-use site at 176 Montague Road following a competitive off-market campaign that highlighted developer appetite for strategic sites within the tightly held South Bank expansion area.

The transaction was handled by Colliers Queensland Chief Executive Simon Beirne, Residential Development Sites Director Brendan Hogan and Investment Services National Director Hunter Higgins, with strong engagement throughout the campaign from developers seeking to secure sites before major surrounding projects intensify competition.

The sale represents one of the final privately owned development opportunities within the South Bank expansion area, with the site sitting at the centre of significant public and private investment reshaping the inner-city precinct.

Competitive Campaign Highlights Developer Demand

Simon Beirne said the South Brisbane deal reflected the growing momentum behind the precinct’s next phase of development, with developers moving quickly to secure strategic sites ahead of major projects.

“This site sits at the heart of a precinct that will become Brisbane’s defining urban renewal story over the next decade. With government and private investment in the South Brisbane precinct providing significant momentum, there was strong engagement throughout the campaign from developers who wanted to move quickly to secure strategic sites in the precinct before competition intensifies. This opportunity allows TRK Property Group to get ahead of the curve and shape a legacy residential project that will be located in Brisbane’s most desirable inner-city location.”

The broader inner-southern Brisbane River corridor is forecast to experience significant population growth over coming decades, with population expected to reach 225,200 by 2041.

South Brisbane Deal Secures Tightly Held Site

Brendan Hogan said the transaction reflected continued demand for premium apartment development opportunities across Brisbane’s inner-city market, particularly within blue-chip locations where quality development sites are increasingly scarce.

“Brisbane’s apartment market remains critically undersupplied, particularly in blue-chip inner-city locations where quality development opportunities are increasingly scarce. The South Brisbane riverfront is emerging as one of the city’s most exciting residential destinations with this site located right on its doorstep. Sites like this are incredibly tightly held because they offer the chance to create something truly iconic in a central lifestyle location.”

The sale comes amid continued strength in Brisbane’s apartment market, particularly across established inner-city locations where scarcity is driving competitive acquisitions.

TRK Property Group’s South Brisbane acquisition sits in a prime riverside pocket, close to the major Visy redevelopment site earmarked for significant urban transformation.

Transaction Reflects 147 Per Cent Price Surge

According to Colliers and Urbis data, the average price of an Inner Brisbane off-the-plan apartment increased by 147 per cent between 2020 and the second quarter of 2025, rising from $816,096 to $2.015 million.

The significant price growth underscores the competitive market dynamics driving developer appetite for strategic sites within established inner-city locations.

Hunter Higgins said the location between South Bank and West End made the precinct one of Brisbane’s last major riverfront redevelopment opportunities.

“The sale signals growing private sector confidence in South Brisbane’s next chapter, as developers position themselves to capitalise on one of the city’s most tightly held and rapidly evolving riverfront precincts. The new South Brisbane riverside precinct will be a centrepiece of the 2032 Olympic Games. This location is truly unrivalled, just a short walk to everything that defines the vibrant South Brisbane and West End lifestyle.”

Strategic Position Ahead of Major Projects

TRK Property Group’s acquisition comes as several major projects prepare to transform the surrounding area.

Lendlease is set to redevelop the nearby Visy site into a major new housing, riverfront and entertainment precinct, delivering more than 4,000 homes and 1.2 hectares of publicly accessible riverfront parkland.

Stockwell has proposed a masterplanned redevelopment of the neighbouring Parmalat factory precinct, incorporating residential towers, a riverside pavilion, public square and more than 300 metres of restaurants, bars and entertainment venues.

The 1,917sqm site at 176 Montague Road represents one of the final privately owned development opportunities within the South Bank expansion area, with the competitive acquisition process highlighting the premium developers are willing to pay for strategic sites within the tightly held precinct.

Note: The information presented in this article is for general informational purposes only and should not be relied upon as legal, financial, or professional advice. While we make every effort to fact-check and verify the information presented, we cannot guarantee its accuracy or completeness. Readers are encouraged to independently verify any information they find on our website and to consult with relevant professionals before making any decisions based on the information presented. The Property Market Review does not own the rights to the information included within this article, and furthermore, there is no infringement intended from the included text and images within.