Urban village to rise on defunct Brisbane flour mill site
Brisbane’s historic Albion Flour Mill is set to become the centrepiece of a $330 million urban village lifestyle precinct, developed by property and investment group FKP.
The heritage site is set to become an inner-city village.
The Albion Mill development site spans 7,336 square metres across two sites – the flour mill site and the car yard site – set 4.5 kilometres from Brisbane’s city centre atop Albion Hill in the inner north.
Kowalski Architects designed the $87 million first stage of the Albion Mill masterplan, The Hudson, to be built on the car yard site.
It will feature 134 spacious one-, two- and three-bedroom apartments.
The starting price for The Hudson is $390,000, including a car park.
For two-bedroom units, the prices start at $573,000 and from $1,175,000 for three-bedroom units. Three-bedroom apartments come with two car parks.
There are 16 apartment design options for buyers.
The complex will come with pool, barbecue terrace, sundeck and gymnasium.
Its interiors have been undertaken by Victoria Tabur of Brisbane-based Embody Design.
FKP opened The Hudson display suite last week with construction set to commence early 2012, aiming for early 2014 completion.
Gary Kordic, head of Queensland developments at FKP, says the Albion Mill masterplan would be rolled out over the next five years. Kordic says Albion was an average annual median price growth rate of 7.86%, as per a March 2011 report on the suburb,
The historic flour mill was constructed by Scottish migrants the Gillespie Brothers during the economic depression of the 1930s.
It remained Brisbane’s sole working mill until operations ceased in 2004.
There is currently over $20 billion in development underway in the Albion area, including construction on the new Airport Link tunnel; the rebuild of The Royal Brisbane and Women’s Hospital clinical services; and completion of the $93 million Inner Northern Busway.
FKP bought the site six years ago, and it has since unveiled several redevelopment proposals that did not proceed.
Reed Construction Data figures show that Brisbane is scheduled to have 7,600 newly built apartments by the end of 2012, according to the Australian Financial Review.
