WWII naval dockyard floated onto Brisbane market
A mammoth section of prime waterfront land in Brisbane is being sold off, ripe for commercial and residential redevelopment.
The former naval dockyard Cairncross Quays, in Morningside, is one of the most significant waterfront development opportunities that Brisbane’s inner-city has seen for years.
Located at 405 Thynne Rd, Morningside, the 14.35ha section of absolute waterfront land is located less than 4.5km from the Brisbane CBD and includes 700m of frontage to the Brisbane River.
It is Australia’s second largest dry dock, smaller only in size to the Royal Australian Navy’s Captain Cook dock at Garden Island, in Sydney Harbour.
The property, which is being sold by shipbuilding company Forgacs Engineering, which bought it in 2000, also includes 6.65ha of exclusive wet lease area, providing an unparalleled opportunity to interact with the river.
JLL’s national director Seb Turnbull, who is managing the sale, says: “We’re incredibly excited to be offering a waterfront land holding of this size and potential to the market.”
“It represents a once in a generation opportunity to have a hand in transforming Brisbane’s future, and be a part of a truly significant urban renewal project.
“One of the largest ever landholdings offered to the market, the riverside site is an exclusive development opportunity unlikely to be repeated in the near future.”
Located within a stone’s throw of the high profile Bulimba Barracks urban renewal site, the property also offers uninterrupted views of the riverfront, city skyline and leafy local surrounds.
Cairncross Quays was formerly a naval facility and the site includes a dry dock left behind from shipbuilding operations during World War II.
JLL says the site’s historic connections, combined with its location amongst some of Brisbane’s most prestigious suburbs, leaves it ripe for rezoning and transformation into an iconic urban precinct.
Key initiatives to support a rezoning for the site are already underway.
Cairncross Quays is listed for sale with JLL via an expressions of interest campaign.