Sunland Group has purchased a Toowong heritage property adjoining its apartment project on the ABC site, The Courier-Mail has reported, marking a further transaction toward its Grace on Coronation development.
Sunland purchased the historic property at 20 Archer Street for $3.25 million, with Sunland Group Managing Director Sahba Abedian confirming the Group has acquired an adjoining property to its Grace on Coronation development in Toowong.
The heritage listed property has existing development approval for a premium boutique apartment project which retains the existing heritage residence.
“We saw this as a strategic opportunity to expand our riverfront land holding in Toowong,” Mr Abedian site.
Mr Abedian said the proposed Grace on Coronation development was approved by Brisbane City Council in June 2015 and remains before the Planning and Environment Court following an objection from a neighbouring property.
A spokesperson for Sunland Group said further plans for the sites were on hold following developmental approvals.
“We cannot confirm details at this stage - plans for both sites remains on hold pending outcomes,” she said.
Brisbane City Council regards the Archer St house of local heritage significance as one of the few Brisbane examples of an American Cape Cod design.
Archer St development application documents, prepared by property consulting firm Urbis, show the house was designed by leading Brisbane architect Richard Gailey junior and built for Toowong resident, Maude Smith.
The current development application shows the house would be moved to the front of the block, making way for a nine-level apartment building, including two basement levels, facing the river.
The existing plans show one apartment per floor, with a two-storey penthouse on the top.
Sunland Group has proposed the Grace on Coronation development designed by Pritzker Architecture Prize winner Dame Zaha Hadid, featuring three sculptural residential towers set amongst landscaped parklands.