Tom Dooley Developments secures Gasworks site in $16.5m deal


Local property developer

Tom Dooley Developments (TDD) has purchased a 4,000 square meter mixed-use development site in the emerging Gasworks precinct in Brisbane for $16.5 million.

TDD, whose portfolio includes renowned projects Aquila and Pietra, bought the site as part of the new shopping and restaurant precinct at Gasworks off Aveo Group formerly FKP.

TDD Managing Director Tom Dooley said the site fronting Skyring Terrace at 30 Festival Place, Newstead was arguably the best in Brisbane as it is located at the Gateway of the New Farm Peninsula on the north eastern side of the Gasworks precinct and just moments from James Street and Fortitude Valley.

“This is a truly unique location and we are planning something pretty special here,” Mr Dooley said.

“With its beautiful Parklands, great public transport, river access and the CBD less than two kilometres away, Gasworks is a true work, play, live, shop destination.”

Mr Dooley said planning is well under way for a 25 storey mixed use development on the code accessible site.

The site is known as "Tower B" and permits 24,000 square meters of developable area.

“This site marks a natural progression from the Gasworks shopping precinct which includes a Woolworths and other quality retailers so we will definitely have a retail component to extend onto what has been the launch of a very successful retail destination,” he said.

“We are hoping to go to the market in May with a range of high quality apartment product and we expect massive interest as not only will these luxury apartments be high quality with everything at your fingertips but the views will be sensational.”

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