Woolworths development arm Fabcot list approved Kangaroo Point apartment development site
Fabcot, the development arm of Woolworths Supermarkets, is seeking to flip their development approved mixed-use site in Brisbane Kangaroo Point
The project was given the green light in August after Fabcot amended plans following their acquisition of the site next door.
Their initial plans were for a 10-storey residential tower with 53 apartments, above a full-line Woolworths supermarket and three levels of parking. That was granted approval in December 2021.
Then they acquired an additional 149 sqm lot at 14 Prospect Street in January 2021, Fabcot sought to modify the existing approval to accommodate the new purchase and create a larger and more extensive development.
Read more: First look: Woolworths plot larger Kangaroo Point mixed-use apartment and retail development
Fabcot's land package now spans a total of 3,197 sqm with frontages along Ferry, Prospect, and Deakin Streets, with part of the land reserved for potential future road widening.
Plans are now approved for a 17-storey building with 130 apartments. There will be seven one-bedroom apartments, 75 two-bedrooms, 44 three-bedrooms, and four four-bedroom apartments.
Amenities for the development will comprise a rooftop pool, gym, and outdoor barbecue space with seating. Around 2,600 sqm of space has been allocated for commercial use, allowing for a larger supermarket than initially proposed. The supermarket will now resemble a full-line store, catering to the needs of the Kangaroo Point community while adhering to a similar building footprint.
It was advised to the Brisbane City Council that the development would take place in two stages.
The first stage encompasses four basement levels (one more than originally approved), ground-level retail and commercial space, and rooftop services such as plant rooms and the condenser deck. The second stage will involve floors one to 15, along with the rooftop area, which will feature a garden, pool, barbecue area, and indoor gym.
Colliers has the listing. Woolworths already has in place the entire retail strata lease with an initial lease of 10 years and 10 x 5 year options.