Quayle said the project would showcase “adaptive reuse excellence”.
“We are excited by the opportunity this site presents to deliver something special for Brisbane while at the same time making better use of an older building in a great location moments from the CBD,” he said.
“While a good idea in theory, there are not that many commercial buildings suitable for conversion to residential due to factors such as layouts, construction materials and the availability of natural light.
“We were fortunate to find that this site had the right ‘bones’ for an adaptive reuse project, including the ability to design whatever we wanted with 300sq m of clear space.
“There is also a fascinating early history to this building which we look forward to sharing once our plans have been finalised.”
The apartments will feature up to four bedrooms, separate study, large storage spaces, and luxury fittings and finishes.
The penthouse would comprise a rooftop level with a large lounge space, bar, wine cellar and about 200sq m of outdoor living with a swimming pool, sun deck and barbecue area.
The Cera Stribley-designed project also included basement parking, communal areas, private lift and a New York-style entrance lobby.
Chapter Two director Oliver Bagheri said they had taken inspiration from the best around the world.
“Chapter Two has a rapidly growing portfolio of residential land, townhome and apartment projects across Brisbane and the Gold Coast,” Bagheri said.
“We take an innovative approach to urban infill sites, delivering the best in modern living options to suit a wide range of buyer needs.”
Earlier this year Brisbane’s Coronation Drive was tipped as an office-to-residential conversion hotbed of the future.
JLL head of tenant representation Michael Greene said the riverside precinct and its surrounds were an ideal candidate for widespread adoption of build-to-rent and build-to-sell products
“With the transformation of working practices that emerged out of Covid, we have office space being underutilised while demand for housing in Brisbane is nearing breaking point,” Greene said.
“Another factor to consider is that Coronation Drive is home to a heavy component of older, lower-graded C and D stock buildings, which would require significant investment to compete with new commercial builds.
“This makes it much more financially viable to look at adaptive reuse instead.”
*This post was originally published on https://www.theurbandeveloper.com/articles/brisbane-office-to-residential-conversion-spring-hill?utm_source=TUD+-+Daily+Briefing&utm_campaign=e3ec89a8ec-EMAIL_CAMPAIGN_2021_08_11_01_49_COPY_01&utm_medium=email&utm_term=0_982c36d415-e3ec89a8ec-195663826
