Coronation Drive Renewal

The Urban Developer

16 July, 2024

Shayer Group hopes to build on Coronation Drive demand with its application submission in June 2023 to develop an “urban village” at King’s Row.

The $300-million-plus masterplan would feature four towers of up to 37 storeys comprising residential and office tenancies and include heritage-listed Milton House.

Morris Property Group’s 33-storey residential application filed in July 2023 for 19 Eagle Terrace, at the corner of Coronation Drive, is also waiting for approval although its $250 million, 24-storey office tower for the same site has been ticked off.

Commercial owners and developers could profit from the near-build out of South Brisbane and Fortitude Valley in the long term.

“It wouldn’t be unsurprising to see commercial landlords consider sales to a residential owner,” Benson says.

Two residential developments on Coronation Drive are proving successful with Consolidated Properties Group’s Monarch Residences at number 600 almost sold out.

The $450-million, dual-tower project on the former ABC site features 224 apartments—with just 17 still available—and includes the heritage-listed Middenbury House.

Seventy per cent of Spyre Group’s $150-million Arc Residences project at 570 Coronation Drive, which is now under construction, has also been sold off the plan.