As part of its asset optimisation strategy, the United Service Club Queensland (USCQ) has decided to bring to market its 5,690sq m property overlooking the Brisbane CBD.
Prominently positioned with frontage to Wickham Terrace, Upper Edward & Berry Streets in Spring Hill, just 2km north of the Brisbane CBD, the property has benefited from the recent Spring Hill plan allowing developments of up to 30 stories on site.
According to Robert Dunne, Director at Savills Australia and exclusive agent on the property with colleague Lawson Katiza, initial town planning advice suggests a project of up to 50,000sq m over 30 levels could be accommodated on the greater site.
“The USCQ has decided to take advantage of the uplift of the under utilised asset with the Club continuing to operate and own the portion of the property that they currently occupy.
“Demand for accommodation, hotel, commercial and build-to-rent projects is likely to benefit from being so close to the Brisbane Central Train Station, the popular Roma Street Parklands and the expanded Roma St Train Station Precinct as well as the broader amenity and facility of the Brisbane CBD,” he said.
USCQ has a long and distinguished history as a private members club in Brisbane. Founded in 1892, the Club is known for both its exceptional member services and broader contribution to the community.
A spokesperson for USCQ said “In pursuing its goals of enhancing the membership experience and our community interests, the Club has determined to offer to the market a portion of its land as part of its asset optimisation strategy. USCQ is finalising the preparation of a packaged development proposal model that will complement the Club’s values and support its vision.”
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