Prime West End Riverfront Site Sold for $50M

riverfront site
25 Donkin Street, West End (Photo credit: Google Street View)

A prime riverfront site in West End has been sold for just under $50 million, marking a significant price drop from the $82.5 million it fetched in 2014. 


Read: Scaled-Back Plans Revealed for Controversial West End Riverfront Site


The property, located at 25 Donkin Street and 3-9 Buchanan Street in West End, was acquired by Melbourne-based developer ICD Property.  

Currently home to Riverside Corporate Park, the site features three low-rise commercial buildings occupied by a moving and storage service company, a clothing store, and an agile parking business.  

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Riverfront Site
Photo credit: Google Street View

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ICD Property has not yet announced its plans for the prime riverfront site, but previous approvals envisioned a mixed-use development comprising seven buildings with around 1,000 apartments, a retail plaza, and a riverside walkway. 

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The property was marketed for its potential to yield up to 1,128 residential units, drawing significant interest during a competitive expressions of interest process.  

Riverfront Site
Photo credit: realestate.com.au

“This truly is an opportunity to seize and be part of this one of Brisbane’s largest residential developments with the prospect to create a city shaping project in one of Australia’s fastest growing capital cities,” the listing says.

“This extraordinary 16,823sqm* riverfront opportunity is a project poised to redefine Brisbane inner city living and create a vibrant, modern and connected community for years to come.”


Read: West End Fixer-Upper Fetches $2.36 Million at Auction


The acquisition aligns with ICD’s strategy of undertaking large-scale redevelopment projects through joint ventures, much like their Sydney CBD project, Sydney House, in collaboration with Singapore-listed First Sponsor.  

West End’s vibrant culture, riverside location, and close proximity to Brisbane’s CBD make the site a highly desirable location. The neighbourhood eagerly awaits details of the developer’s plans, with the potential for a transformative project that could become a local landmark in West End.

Published 30-January-2025