DA is up with a volumetric Subdivision over Albion Railway Station.

Application number: A001645960

DA URL (http://www.brisbane.qld.gov.au/masterview/modules/applicationmaster/default.aspx?page=wrapper&key=A001645960)

The net keeps on crashing because of the size of the files, but it looks like a big development.

BTW could a mod please change the title to "Albion Flour Mill Development"

Cheers

Wow I'm very eager to see this one. Hopefully they keep some of the old warehouses on the site, and develop them much akin to the Teneriffe Woolstores.

Looks alright..

Buildings:
A - 6 levels, resi + retail base
B - 10 levels, resi + retail base
C - 5 levles, commercial
D - 10 levels, resi + retail base

http://img507.imageshack.us/img507/193/albion1ys0.jpg

http://img507.imageshack.us/img507/917/albion2rl5.jpg

http://img353.imageshack.us/img353/9646/albion3xk2.jpg

http://img101.imageshack.us/img101/8321/albion4ig5.jpg

It's a pity they aren't building over the station. I wonder why they were getting a volumetric subdivision then?

Maybe someone else will build over the station?

Good place for a TOD type development, this area has been defaced by the overpass and run down in general. Some urban renewal here will go a long way. The architects will produce an extremely detailed facade, should the budget not be limited too much. Turning the silos into apartments like the Newtown Silo complex and Waratah Mills in Sydney is an excellent reuse of the structure. I'm sure theres this other more advertised and glamorous transformation in Sydney but I'm not too sure of it at the moment.

Good idea, but it should be extended over the train station.

Few pics of the area. I was hoping they would build over the station too.

http://img45.imageshack.us/img45/9430/p9100043wn2.jpg (http://imageshack.us)

http://img512.imageshack.us/img512/9453/p9100060ks9.jpg (http://imageshack.us)

http://img104.imageshack.us/img104/7465/p9100059we5.jpg (http://imageshack.us)

http://img55.imageshack.us/img55/8625/p9100051fb4.jpg (http://imageshack.us)

I never expected FKP to build over the station. What they have produced its a pretty good village development overall. None of the buildings are spectacular, but they serve their purpose and there seems to be very good street level interaction.

So this is right next to the Albion overpass??

Anyone know if this extends to the QR carpark and the car yard?:dunno:

Looks good as well, nice little hub in Albion.

Anyone know if this extends to the QR carpark and the car yard?:dunno:
Yes, it continues right over both sites. There will actually be a supermarket where the carpark is now, and offices above it.

Fantastic proposal! I'm breathing a sigh of releaf as they're keeping the gorgeous old warehouse. I think the proposal is quite striking, and not too overdone. I don't particularly care if the station isn't built over. Albion station is far from the one of the most offensive looking railway stations around. I'd rather Roma St Station be covered up with some stunning glass and stainless framed works, perhaps like the station in Berlin or frankfurt (sorry I saw it on National Geographic, it's definately one of the two cities).

^^Just wait.

More Images - These should help everyone grasp the scope of the project:

http://www.racingsnail.com.au/forum/albion01.jpg

http://www.racingsnail.com.au/forum/albion02.jpg

http://www.racingsnail.com.au/forum/albion03.jpg

http://www.racingsnail.com.au/forum/albion04.jpg

http://www.racingsnail.com.au/forum/albion05.jpg

http://www.racingsnail.com.au/forum/albion06.jpg

http://www.racingsnail.com.au/forum/albion07.jpg

http://www.racingsnail.com.au/forum/albion08.jpg

And a few more:

http://www.racingsnail.com.au/forum/albion09.jpg

http://www.racingsnail.com.au/forum/albion10.jpg

http://www.racingsnail.com.au/forum/albion11.jpg

http://www.racingsnail.com.au/forum/albion12.jpg

http://www.racingsnail.com.au/forum/albion13.jpg

http://www.racingsnail.com.au/forum/albion14.jpg

http://www.racingsnail.com.au/forum/albion15.jpg

I must admit, I was quite sure they would demolish the silos, but they haven't, which I am extremely pleased about, and it looks like they will be pretty cool circular apartments.

Question: For any rail people out there, is the reason for the substantial gap between the buildings and the first rail platform for a future 5th platform?? Or is it totally unrelated to any station expansion?

More Images - These should help everyone grasp the scope of the project:

http://www.racingsnail.com.au/forum/albion01.jpg



This is also a good pic of where one of the State Governments proposed 'Mega' Residential and Commercial areas are going. It is where the rail yards are in Bowen Hills.

I still quite like it. It will revitisilse that section of Sandgate road, with the many quality and under rated restaurants in that area. It also takes alot of the focus off the TAB building. That thing has been a mole for the Albion area for years.

^^
It's also become iconic now in a way.

What is the height of the tallest building? Will it technically reach highrise status?

^^
It's also become iconic now in a way.


:lol: I don't ever think you'd call that thing an icon. Perhaps ironic, as Albion is quite a lovely suburb, yet this thing sits at the front of the suburb facing out.

What is the height of the tallest building? Will it technically reach highrise status?
I've been searching high and low but can't find heights. TAB is about 61.7m RL or about 48m above ground, and the tallest building in this project is higher than TAB, so maybe 55m-60m??

So definately Highrise!!

That makes for some mass GFA! Thanks Brizzy.

Premier
The Honourable Anna Bligh

Monday, November 05, 2007

$280 MILLION ALBION DEVELOPMENT ON TRACK (http://www.cabinet.qld.gov.au/MMS/StatementDisplaySingle.aspx?id=54907)

The State Government and developer FKP have cleared the final hurdle in the plan to transform a 1.3ha site at Albion into a modern $280 million village-inspired community based on the railway station.

Premier Anna Bligh said the $280 million Mill Albion project would be a showcase for Transit Oriented Development, which incorporates the best of sub-tropical urban design with housing and commercial development linked to major public transport centres.

The Government this week confirmed to the Brisbane City Council that agreement had been reached with FKP to build a multimillion-dollar footbridge to the railway station, the final component needed for the development to proceed.

Designed by award-winning architect Richard Kirk, the development will preserve the heritage-listed former Defiance Flour Mill and its silos, using them as the focal point for a mix of residential and retail buildings linked by public plazas and community spaces.

Mill Albion will replace an existing car yard and the railway station's park and ride, and provide parking for more than 600 vehicles.

"It will transform what is not a particularly attractive area into a first-class precinct providing a vibrant place where people can live, work and socialise only eight minutes’ train ride from the City,” Ms Bligh.

“The development preserves a part of Queensland’s history while offering a blueprint for the future.”

FKP are designing the office component to achieve a "5 star, Green Star'' certification by the Green Bulding Council of Australia. The Mill's design will also incorporate recycled timber and bricks from the current site.

The Mill will incorporate approximately 20,000 sqm of commercial office space, 143 apartments and 5000 sqm of retail space.

Office space will be incorporated in two buildings, a 12-storey (14,359 sqm), corporate office building and five-storey, campus-style (5,246 sq
m) building.

The one, two and three-bedroom units will be in three buildings - two new purpose-built buildings and the renovated flour mill, which will incorporate 11 apartments.

The ground floor retail space will include cafes and restaurants, a major supermarket, medical centre, newsagency, deli, bakery and grocers.

Ms Bligh said TODs were an integral component of the Government's strategy to keep ahead of growth.

"The South East Queensland Regional Plan, will ensure the region's growth is sustainably managed and that our lifestyle is preserved.

"The plan protects more than 80 per cent of the region's open spaces from development-the very qualities that make SEQ one Australia's best places to live.

'Still, we will need to accommodate one million more people in the region by 2026. This population growth and the trend towards smaller household sizes means we will need around 575,000 new dwellings in the next 20 years.

"To stop urban sprawl from swallowing our remaining open spaces, the SEQ Regional Plan proposes that nearly half of the new dwellings be built in established urban areas.

“About 115,000 of the additional 145,000 dwellings needed in Brisbane by 2026 will be achieved by “infill development” in established urban areas.”

Media Contact: Premier’s Office: 3224 4500

FKP have built over railways before, should make use of the air rights. Must be QR blocking them here, they are not the most co-operative when it comes to things like that.

Excellent, this is one project that I'm very keen to see move forward.

Why should FKP pocket the bill for a pedestrian bridge, when there are already 2 of them going across the tracks at Albion?

There was a digging on site on Monday this week moving some soil around!

^^ theres also been some minor demolition of some of the smaller structures.

I am really looking forward to this development, will really liven things up for Albion. It might get more people to Albion as there are a few good restaurants already located there.

Brisbane Times are saying that construction has definitely started!

Albion Mill set for $280m transformation
Shannon Molloy | January 25, 2008 (http://www.brisbanetimes.com.au/news/queensland/albion-mill-set-for-280m-transformation/2008/01/24/1201157550495.html)

The inner-northern suburb of Albion is set for an urban transformation, as early work begins on a $280 million mixed-use development next to the local railway station.

Residential, commercial and retail space over 1.3ha will see FKP's Mill development take the precinct from tired and unattractive to an exciting multi-purpose hub for hundreds of new residents.

And it's just one of eight mixed-use projects set to go ahead within the city precinct.

The heritage-listed former Defiance Flour Mill and its silos will stay, forming a focal point for a mix of buildings linked by public plazas and community spaces.

About 20,000m2 of office space will be spread over two world-class commercial buildings - a 12-storey building and five-storey campus style building.

Environmentally sound design practices have been utilised, and the shorter building boasts a rooftop garden terrace.

The Mill's design will also incorporate recycled timber and bricks from the current site.

Three residential buildings, including two new purpose-built structures and the renovated flour mill, will comprise one-, two- and three-bedroom apartments.

The historical red brick mill building will feature only 11 apartments, utilising flowing natural light and generous high ceilings.

Ground floor retail space will include a major shopping centre, cafes and restaurants, a medical centre, newsagency, deli, baker and grocer.

The development has been designed by award-winning architect Richard Kirk.

Early work involves the demolition of non-heritage listed buildings on the site, which is currently home to a car yard and the railway station's park-and-ride facility.

Colliers International research analyst Alison Timchur said the development was one of eight mixed-use projects set to go ahead within 5km of the CBD.

They will join existing developments including Portside Wharf at Hamilton and Emporium in Fortitude Valley, signalling a rise in the number of multi-purpose communities.

"The number of lone-person households in Brisbane is growing fast, and these people are drawn to communities that offer a built-in social scene," Ms Timchur said.

"People can live, work, play, shop, eat and entertain themselves within a single site."

The success of similar projects suggests singles are increasingly looking for the full package, she said.

And the rise in single households means developers are rushing to cash in.

"Singles search out built-in communities to bond with, creating a ready made social network... I think mixed-use developments are a great option for Brisbane.

"With our growing population, they offer higher density living with an incredible variety of facilities within easy walking distance."

Albion's population grew by 200 residents, or 4.9 per cent, in 2006. Over five years, the proportion of residents between 25 and 39 years of age has increased by almost six per cent.

Good website with renderings and fly through now online.

http://www.themillalbion.com.au

Maybe a nice investment: one, two and three bedrooms. Anyone have any price estimates for the heritage building apartments?

This is now U/C

A002165904

WOW!!!!!

12st resi to be increased in height to 28st!!!!!

WTF??

So it seems the commercial building along Albion Rd has been replaced by the 28 storey residential. And a 6-storey commercial building is now adjacent to the railway line.

I live in Albion and catch the train everyday... There has been very little work done on the site for sometime... but across the road there is a massive hole done by Mica properties... Do you know what they're building there? They seem to be demolishing everything across the road from Albion mill.. They wiped out a house and that has barriers all around it... Albion seems to be surging ahead :)

So it seems the commercial building along Albion Rd has been replaced by the 28 storey residential. And a 6-storey commercial building is now adjacent to the railway line.

28 Storeys, Holy Shit!! Is this a last minute change and has this been approved by council?

Albion Station could do with a tidy up as well.

The main tower looks quite nice. A bit blocky but lots of glass up top. It seems to have been alligned so residents can get maximum city views.

Looks very similar to Union in Milton. Check the second or third planning report for renders and plans.

J

28 Storeys, Holy Shit!! Is this a last minute change and has this been approved by council?

I think its best to go up to 30 stories in TOD areas in Brisbane for the sake of housing all the people at the end of the day it is best to keep the 'character' of our suburbs and to stem or slow urban sprawl.

This has come off the back of some very strong resi sales for FKP.
In fact, in this deathly quiet market they have done brilliantly, which probably prompted the change in DA.

Looks like it was submitted on 30/9/08, and not approved yet.
Fingers crossed though - I agree that well planned and well controlled density, especially within TODs, is our best chance of keeping as much of our historical and character housing as possible, while catering for the growing population.

Bring it on!

Very pleased. 28 stories in Albion? Insane!

Very useful to set such precedents.

Cranes were all over the site this morning for the project across the road.. Any idea of what that is? People were working on the Mill building this morning. They were cutting all the crap off the building and looked like they were cleaning it...
So maybe this is going to start soon? Alot of activity lately...

The weeds are starting to grow quite high on this one.

Just look across the road, 2 sites are being dug deep a crain is up and a hole at least 3 storeys deep.. Anyone know what that will be?

the title for this one should be changed - it is definitely not under construction.

they are seeking a new DA, and unless they decide to go under the current approval they cannot start construction until they obtain the new DA... and it would seem very stupid to ignore all of the $$$$ they have paid in council fees for the new DA.

so i think the new title should be APPROVED

^^But they are easily able to start construction on all the areas of the old DA that will not change for the new DA.

Status should be changed to approved. Respectfully, status refers to what it is now, not what it could potentially be.

A guy came into work today who is working on ths. he asked me to transfer some photos onto a flash drive for him. the flash drive had files relating to plans etc for this. im kicking myself wondering why i didnt take them. oh well

A guy came into work today who is working on ths. he asked me to transfer some photos onto a flash drive for him. the flash drive had files relating to plans etc for this. im kicking myself wondering why i didnt take them. oh well

The plans are on the net and have been for months. The renderings are great - not sure why they haven't been put up yet. There are views of the main tower from many far away directions. This tower is going to make its mark.



J

^^But they are easily able to start construction on all the areas of the old DA that will not change for the new DA.

are you sure?? i have heard from someone at fkp that this is not the case.

Weeds growing even taller on this site.

I might be of some help because I am actually staying in Albion whilst in Brisbane. I'll try and get some piccies. :)

That would be great! I rarely go further out than about a km from the CBD.

I might be of some help because I am actually staying in Albion whilst in Brisbane. I'll try and get some piccies. :)

My apartment over looks the site... I'm on the hill :)

Notice 2 big holes across the road with a crane on 1? I wonder what they're doing there...

The area will look rather dense with TAB and these 2 other towers that they're building across the road from the station...

The Mill defies property downturn
Shannon Molloy | November 19, 2008 - 10:34AM (http://www.brisbanetimes.com.au/news/business/property-downturn-not-at-the-mill/2008/11/19/1226770505431.html)

http://www.brisbanetimes.com.au/ffximage/2008/11/19/470_mill3_web_narrowweb__300x255,2.jpg

Consumer confidence has taken a battering this year thanks to growing uncertainty about the economy, but many property investors are still willing to snap up well-priced real estate.

Research by property services firm Colliers International shows 205 new apartment sales in Brisbane between June and September, compared to just 65 sales in the previous quarter.

While the figure looks impressive on paper, the firm's research analyst Lachlan Walker said the majority of purchases - 114 of them - were made from a single development in the city's inner-north.

FKP began marketing its project, The Mill at Albion, earlier this year and was inundated with interested buyers.

The transit-oriented development, situated above the local train station and incorporating the urban renewal of a heritage building, is being celebrated as a market success story.

During a three-month period, FKP sold 78 per cent of its available apartments, most to buyers who lived within a five-kilometre radius of the site.

Property analyst Michael Matusik said the mostly one- and two-bedroom apartments were cleverly planned, priced well and released for sale at a time of pent-up demand in the area.

However, Mr Matusik said the biggest appeal was the competitive pricing, which he believes will be an increasingly critical factor for developers in the future.

"Projects that sell small affordable product should sell well,'' Mr Matusik said.

"Developments targeting prices over $850,000 better be on the river and be very boutique or they will get few sales."

New apartment sales volumes next year are expected to be down on 2008 figures, but those projects that "get it right"will enjoy the benefits, he said.

"Without The Mill's results, this quarter was pretty ordinary and very few projects even got a sale," he said.

Mr Walker said the quarterly data showed buyers were increasingly in search of a reasonable price over other features.

Other strong performers in the inner-north precinct were the Promenade Apartments at Hamilton with 31 sales and the Theodore Apartments at Kelvin Grove, with 30 sales.

Brisbane's CBD recorded 17 new apartment sales during the quarter, from a possible 178 units on the market.

"In terms of rental vacancies for residential apartments, inner-city Brisbane retained the lowest vacancy rate of only 1.4 per cent," Mr Walker said.

"This suggests that rental rates will continue to rise as demand for accommodation increases and rental stock supply dwindles."

My apartment over looks the site... I'm on the hill :)

Notice 2 big holes across the road with a crane on 1? I wonder what they're doing there...

The area will look rather dense with TAB and these 2 other towers that they're building across the road from the station...

The site where the crane is, the basement levels are taking shape and is just one level from reaching the street.

The site where the crane is, the basement levels are taking shape and is just one level from reaching the street.

I'm not sure what the building is going to be though? I've tried searching.

The other site on the corner is a nice big hole now :)

It is a 5 storey office building.

Application number: A001850205

It is a 5 storey office building.

Application number: A001850205

This area is going to be a nice little satellite CBD within the next 5 years :)

Out of curiosity, when it is peak hour,
how many trains will pass through the Albion station?

http://qroti.com/cgi/tvm.pl?ORIG=Albion&OBEGH=7am&OENDH=9am&DEST=Central&DAY=Monday+to+Thursday

17 between 7am and 9am

+ 12 Heading north
http://qroti.com/cgi/tvm.pl?ORIG=Central&OBEGH=7am&OENDH=9am&DEST=Albion&DAY=Monday+to+Thursday

77 Hudson street (Across the road)
25m+ 5 Storey + 3 Basement levels
http://img100.imageshack.us/img100/443/77hudsonpm2.jpghttp://www.micaproperties.com.au/77_Hudson_Road.jpg

Not a bad little number.

There is also a Raywhite constructions office tower next door, i'm trying to find the DA...

Isn't this the Raywhite job?

Isn't this the Raywhite job?

No, this one is Mica Properties

Some piccies

http://img75.imageshack.us/img75/7343/dscf7198jd2.jpg

http://img71.imageshack.us/img71/9118/dscf8720ir3.jpg

http://img375.imageshack.us/img375/599/dscf8728gt4.jpg

http://img375.imageshack.us/img375/2818/dscf8734up0.jpg

http://img518.imageshack.us/img518/9067/dscf8729rq2.jpg

http://img75.imageshack.us/img75/2218/dscf8730mk5.jpg

There was some action at the Mill Site on Friday with steel and other materials being unloaded after a few weeks of procrastination.

January 29 2009

Second Crane has now appeared. Ground level of office building is now beint built

http://img403.imageshack.us/img403/5303/dscf9468je9.jpg

http://img204.imageshack.us/img204/5236/dscf9470tu0.jpg

I've moved from Albion to the Valley, so i can't watch this go up anymore :(

Nothing on site this morning.

First Monday of the month is usually an RDO (Rostered Day Off) for building workers.

Nothing on the Mill site, I thought those cranes are separate projects.

Fabian it is not necessarily the first Monday of every month there are a set list of dates
see here:-
http://qld.cfmeu.asn.au/2007.html

I said 'usually' in my last post.

I have a render of the office building under construction - Mica Place and there is only a small amount of space left for lease

http://www.realestate.com.au/objects/props/4267/5494267,20090130094147,p,600x800,Main@20Feature.jpg

The view

http://www.realestate.com.au/objects/props/4267/5494267bl1233268907.jpg

Am I blind or has noone posted the renders of the new tower? Just having a look a the new DA, what we have now is:

351 apartments (110 one, 237 two, 4 three bedroom)
8562sqm office space
6911sqm retail

Building A: old flour mill building
Building B: old silos
Building C: 6 storey office
Building D: 8 storey res
Building E: 10 storey res
Building F: 27 storey res

Site plan
http://i43.************/20jfw8w.jpg

Renders (well colour elevations) of the new 27 storey apartment building:

http://i43.************/f4l79g.jpg

http://i40.************/2rrbasp.jpg

http://i39.************/35jcfw5.jpg

http://i42.************/epf3ur.jpg

I'm sorry but that big tower is an ugly monstrosity, and pretty underwhelming and not in keeping with the calibre of design elsewhere in the development. Maybe I need to see some proper renders first, but it looks pathetic and will be painfully prominant. Surely this tower is the sort of thing Newmann will ask for a redesign and for them to try harder.

Skyline Tower had a similar look in the renders.

I'm sorry but that big tower is an ugly monstrosity, and pretty underwhelming and not in keeping with the calibre of design elsewhere in the development. Maybe I need to see some proper renders first, but it looks pathetic and will be painfully prominant. Surely this tower is the sort of thing Newmann will ask for a redesign and for them to try harder.

Your expectations must be pretty high, I think it doesn't look too bad but renders can be misleading at times. The 27 storey tower sure will stick out in this area.

Those kinds of renders really just give a general overview of the tower, and nothing i can see in them is particularly bad.

These towers will only go ahead if FKP cannot find tennants for the towers of their current office proposal. Even then FKP will not start these until stage 1 of Mill is complete and they have sufficient sales.

The main tower looks quite nice. A bit blocky but lots of glass up top. It seems to have been alligned so residents can get maximum city views.

Looks very similar to Union in Milton. Check the second or third planning report for renders and plans.

J


Oriolus I saw it about three pages back. Sorry thought everyone had seen it.

Given all thats been happening in Brisbane I didn't think it was that exciting.

j

I suspect these will turn out much better in the 3D perspectives. In 2D they look ok. Can't expect to get the idea of much when only shown in 2D elevations. Will be good for that area as well to make it more of a destination rather than being treated as so much of a drive through area.

Oriolus I saw it about three pages back. Sorry thought everyone had seen it.Yeh but I thought I would post the elevations on the forum so they were more easily accessible. I guess not everyone is able or inclined to go deep inside a huge DA to find renders, even if you said where they are. Now everyone can look at them whenever they want to with a single click :)

^^ I appreciate it, I sometimes have trouble accessing the DA's so having them shown on the thread is much better for all.

Yeh but I thought I would post the elevations on the forum so they were more easily accessible. I guess not everyone is able or inclined to go deep inside a huge DA to find renders, even if you said where they are. Now everyone can look at them whenever they want to with a single click :)


I appreciate it too because although I'd seen it before I couldn't be bothered to go looking again - its nice to have it here now.

J

When are they predicted to start? There has been zero action on this site for a long while now.

Weeds getting taller no site.

They are probably waiting for approval on the taller tower.

Anyone know how many apartments the mill now has in total?

351 on top of the original 143?

Apparently this project has gone bankrupt. Not sure how it is possible given the stated sales, but if it's true then it is a massive, massive shame.

Define "gone bankrupt". Who? The developer, the financier?

Apparently this project has gone bankrupt. Not sure how it is possible given the stated sales, but if it's true then it is a massive, massive shame.

I find that hard to believe.

FKP would not let this go bankrupt, i find it extremely hard to believe!
No more scare mongering would be good!

It was such a promising development for the area. Lets hope if it has gone under that someone will come in and actually build it.

I was going to say - weeds growing on site are now turning into shrubs. Certainly nothing happening with it.

I'm willing to assume something has gone wrong with this. If it were as watertight as we think it is, they would have started by now.

I reckon it's dead.

They were very optimistic before. I thought they had all the sales sold out. It seems strange that a project that was that well assured should go belly up. Getting finance for these projects can be a bit of a circus at times, and at present that funding can disappear over night.

What are your sources? So far this is all pure conjecture, no fact. Dannydeckchair has played an April fools joke to feed pessimism. A site goes quiet for a few weeks and the whole project is 'doomed'.

The reason for the delays is due to the change in the tower.

i think its fucked

they had a scheme for the site before that included a heap of office and a bit of res
they sold the res easily before the downturn, but couldn't get any interest in the office.. so the scheme didnt work

now they've changed the scheme to include way more res, and a lot less office.. but the scheme is pretty farking tall, so they might not get planning approval.

if they do get planning approval, they will have 300+ res apartments they are trying to sell into a market where confidence is shattered. i don't like their chances.

there might be something tricky that they could do, like commence construction of the res tower, and then go back and re-apply over the balance portion of the site.. but the fact that they've gone for a super-tall res scheme kind of hints that they need a lot of res to make up for the forecast profit they have lost by having to scrap the office.

^
i agree that things aren't nearly as rosy as they once were and any further delays would be an ominous sign, but few statements begun with 'apparently' on this site are to be taken particularly seriously.

we don't actually have any information to suggest a collapse in the project, let alone bankruptcy.

And I think FKP will have more problems with Union than this one!

This project is mean't to start until June. FKP cannot start until State Rails lease on the car park is finished.

^^ If that's correct, then we have a simple answer for the whole thing.

Thanks :)

Application Number: A002165904

This project is mean't to start until June. FKP cannot start until State Rails lease on the car park is finished.
It's June 19 and still no signs of work commencing. The buildings on the opposite side have just about topped out.

Now I might do some speculating here. However there is a good chance that the lease runs out on June 30, that being the end of the financial year and a reasonably usual time for leases to run out. If they are allowed to start in early July, then the project has possibly already started behind the scenes.

Of course this could be another victim of the GFC with it being put on hold or cancelled.

^
sounds reasonable to me. also sounds sensible to wait until the end of June before complaining that it hasn't started yet.

^
sounds reasonable to me. also sounds sensible to wait until the end of June before complaining that it hasn't started yet.
Merely letting everyone know the current status amigo.

Recent photo by matty89 of the topped out office tower.

http://img189.imageshack.us/img189/2134/matt028.jpg

This project is pretty much dead. Despite the majority of units being pre-sold FKP were unable to obtain finance and as a result the construction period has been extended beyond the initial sunset clause period. As a result this all current contracts have the be re-signed. The majority of purchasers have decided not to re-sign and have pulled out making the chances of this going ahead in the near future pretty unlikely.

:(

great! albion will be left with a vacant, desolate site for years to come

Damn, I was looking forward to this development.

great! albion will be left with a vacant, desolate site for years to come

Buranda is the new Albion x100.

Very disappointing news :(:(:( This was going to renew the suburb.

Apparently this project has gone bankrupt. Not sure how it is possible given the stated sales, but if it's true then it is a massive, massive shame.

This is bullshit. Don't post untruths to back a mere observation. What is the source?

Yes, there is no activity on site and the proposed project may not be proceeding. This is an obvious observation.

But what is this talk of bankrupt? Do you even know the meaning of what you have suggested?

^^ Messed Up's post is more relevant/interesting. I'd like to know his source.

It sounds to me like it's probably accurate given the situation we see now - ie a dead site for no apparent reason.

Source = FKP. This is pretty common knowledge now.

And I think FKP will have more problems with Union than this one!

Out of interest...why?

Very odd if this one fell through. Pre-sales were great, and a friend of a friend has a contract for one of these apartments and last time I heard the delay wasn't due to the whole thing falling through.

Out of interest...why?

Union is far more complex and far larger. If they couldn't get this financed with 80% sales, how could they get Union up?

Union is far more complex and far larger. If they couldn't get this financed with 80% sales, how could they get Union up?

Thanks. Don't know much about how these things are funded but I hope Union goes ahead as it will be good for the area - the city west task force plan proposes a "city entrance" boulevard running from Milton train station right into King George along Milton Rd with trees, cycle and pedestrian improvements - Union would make a nice book end for it.

Union is far more complex and far larger. If they couldn't get this financed with 80% sales, how could they get Union up?

Just guessing, but maybe they sometimes minimise the risk by dropping some projects on their books and choosing core projects to concentrate on (though of course they all have to be viable in the first place) - that's what I'm hoping anyway :)

Very odd if this one fell through. Pre-sales were great, and a friend of a friend has a contract for one of these apartments and last time I heard the delay wasn't due to the whole thing falling through.

Any chance you could track down an update? If anyone is likely to know, it'd be a future resident.

I know of a few people who invested in this. They had until last Friday week to notify if they were going to sign a new contract for the extended period. Most opted out of it.

Reason for opting out were:

1. Reduced property value forcasts as a result of the GFC and economic downturn.
2. FKP changining the master plan to have 20 stories of apartment highrise when the intitial concept was office towers.
3. FKP unable the garantee that even with the 12 month extension they could not garantee construction would start in 12 months time or if it would even start at all.

Even many FKP staff who are given discounts on property purchases have pulled out.

The project is not officially dead but given the current climate and the fact that even with extensive pre-sales FKP could not get financing chance of a sudden turn around are unlikely.

FKP have relodged for this development.

The taller tower has gone from 27st to 21st plus a few smaller changes.

Not a huge difference overall.

Some news is good news in this case. I really hope this does go ahead, it will really vitalise the area.

This is bullshit. Don't post untruths to back a mere observation. What is the source?

Yes, there is no activity on site and the proposed project may not be proceeding. This is an obvious observation.

But what is this talk of bankrupt? Do you even know the meaning of what you have suggested?

Calm down princess. All I did was relay some information which I got from a small business owner in the area who had been told by someone else. In any case I never pretended it was factual.

Calm down princess.
Well that is the first time I have been called that! :)

Rule #1 - don't quote Wikipedia.
Rule #2 - don't quote the small business owner from around the corner.
Rule #3 - try to disclose the source of your statements to give them clearer context.

The small business owner definitely called you a 'Princess.'

how bizzare.

We got a letter the other day saying FKP have terminated our contract of sale as they have "decided it [the overall development] is not financially viable in its current form". I'm presuming all other buyers got the same letter. It was dated 20 July.

If FKP can't build it, who the hell can? This really is a loss to Brisbane if it can't be realised in it's current or a simmilar form.

A real shame. :(

There are a couple of projects that seem to be going ahead in that area though - a couple of 6-7 storey office buildings I think.

FPK's idea of "not financially viable" is probably not making $1 trillion dollars profit. How about they actually take a page from what the Anthony John Group did with Emporium... i believe they didn't make all that much profit on it but still went through with it - and its probably the most successful mixed use development in Brisbane to date.

Its quite sad when property developers are listed on the stock market - everything has to be done to achieve exorbitant amounts of profit.

I think you will find that the banks didn't wouldn't finance it. FKP is a public company that ultimately needs to make money. Currently FKP is struggling to get finances for their Riverpark development and it is believed they may sell off their assets at the Mill in order to get more cash flow for Riverpark.

Out of interest FKP have laid off a lot of their sales staff and told them they have no new projects coming online for atleast 12 months.

FPK's idea of "not financially viable" is probably not making $1 trillion dollars profit. How about they actually take a page from what the Anthony John Group did with Emporium... i believe they didn't make all that much profit on it but still went through with it - and its probably the most successful mixed use development in Brisbane to date.

Its quite sad when property developers are listed on the stock market - everything has to be done to achieve exorbitant amounts of profit.

property development is a business, not a charity. and the hurdle rate for profit is typically 15-25% of cost, which isn't a huge amount when you consider the risk and time involved.

^^ Oh thats true, but Albion is financially viable, they just don't have their finances in order.

it is financially viable!!????? jeez, if only fkp took financial advice from you!!!!

as i said a few pages ago, i feel the existing da is not financially viable because they had a huge lick of office space, and over the past year the leasing risk has become very high and the forecast end value of the office has declined significantly. essentially, the office killed the scheme. the da that is in currently is not financially viable because they don't even know if it's going to be approved (and with the height, it's a big maybe) and there is a big question mark over whether they can sell that many apartments at such high prices.

if it was financially viable i think fkp would be doing everything in their power to get it out of the ground. they have spend a huge bundle of $$ to buy the land, design and cost their scheme, and get it approved. it's going to cost them a lot of lost money to do nothing, so it's not like they are being weak or lazy.

furthermore, fkp has got other projects that have a much higher chance of market success (riverpark) and probably deserve more attention and cash than albion.

Something will happen with the site eventually. Areas like this need density with the population growing like it is, and the government is really pro transport corridor housing developments.

This article talks about red tape around TOD's, and The Mill gets a mention...

http://www.news.com.au/couriermail/story/0,27574,25962542-3102,00.html

FKP's The Mill project in the inner northern Brisbane suburb of Albion has had strong pre-sales.

But in light of changing market conditions, FKP is still awaiting approval after reconfiguring some plans.

The company has also spent years developing plans for another TOD over the railway station at Milton, in the city's inner west, and has revised plans awaiting approval from the Brisbane City Council.

It is understood FKP is happy about its dealings with the BCC.

But without approvals in place yet there is no certainty as to when construction will start.

Depending on when the CM got their information, this might still be a goer at some point?

Thanks for sharing the article, but gees, it says pretty much nothing doesn't it? "They can't start til they get approval, which they don't have yet, which is why they haven't started yet..." :P (that quote is a complete fiction of course)

Still a glimmer of hope.

FKP stated in today's Primesite that they have scrapped their plans for The Mill and will lodge a new DA next week.

They will completely remove the office component and increase the number of units from 143 to 360.

The heights will also reduce.

Amazingly, they had actually sold 90% (128) of the apartments. They have already commenced refunding the deposits to the buyers.

FKP make me laugh. They have had about 4 or 5 different DAs for Milton. I wonder how many they will get to on this site before actually turning the dirt.

Just about every time the amount of office space has reduced as well, to well now Zero. Pity as it really loses that edge to it, now its just another bunch of units near a train station.

Yes exactly without a decent office proportion it is just another ghetto with not vibe or sense of destination. Shops at ground level, high rise units and reduced car parking is hardly TOD when it doesn't consider employment.

They will retain some retail. The restaurants along Sandgate Road will be the winners from the development though. The folks living in the units need to eat.

Yes exactly without a decent office proportion it is just another ghetto with not vibe or sense of destination. Shops at ground level, high rise units and reduced car parking is hardly TOD when it doesn't consider employment.

interesting.. i've never heard that. why do you think that a decent proportion of office space will give it vibe, sense of destination and stop it becoming a ghetto?

Daytime population.

If most of the people who move into these apartments are young professionals and international students (and I would think statistics would show that) then they are not likely to be buying lunch in the area.

Its interesting that they have done this when it seems that Albion is trying quite hard to become an office precinct. I mean in recent months 2 office buildings have been completed across the street from the Mill site.

Its interesting that they think there is no demand there for commercial activity. Two commercial buildings of what would are of a similar size as the mill development have been finished in recent months directly across the street. I would suggest the reason they moved it to apartments is that FKP didnt want to own the commercial part of the site and were having difficulties finding a buyer. changing it to all apartments means once they have sold them all they can just walk away from the development.

You'll end up with an area like Petrie bight and kangaroo point - suddenly the suburb is alive at 5pm, but ghost town beforehand.

fair point

i suppose the new scheme of 360 apartments will attract something like 700 people to the site.. whereas the old scheme of 128 apartments and something like 20,000sqm of office would attract something like 1,500 people to the site.. so the old scheme would support more retail spend, and retail looks like activity.

still, fact remains that there were not many office tenants who wanted to go out to albion because there is not an existing office precinct and won't be for a very long time (if ever).. so the office was really just a pipe dream. no point reminiscing what will never be :p

Its interesting that they think there is no demand there for commercial activity. Two commercial buildings of what would are of a similar size as the mill development have been finished in recent months directly across the street. I would suggest the reason they moved it to apartments is that FKP didnt want to own the commercial part of the site and were having difficulties finding a buyer. changing it to all apartments means once they have sold them all they can just walk away from the development.

if there was demand for the office then they wouldn't be changing the scheme you numpty!!

So are you saying the developers of the buildings across the street are just pissing in the wind then?

they have a different product, both in market positioning and the volume of space.

How is it a different product, its commercial offices across the street from each other. I dont see the difference.

Yuma, it's fairly obvious that FKP are reducing their risk by ditching the office component. It is extremely clear in the current market that office product is very difficult to fill. Residential sales are stronger and easier.

Therefore, the risk is reduced. Thererfore, it makes sense. It may even have something to do with bank funding.

Refer to my original post on all this which agrees pretty much with what you are saying. The further posts were in relation to this comment:

still, fact remains that there were not many office tenants who wanted to go out to albion because there is not an existing office precinct and won't be for a very long time (if ever)..

If other developers are building commercial tenancies across the street it certainly seems like they are trying to develop an office precinct in Albion.

I believe there is a market in albion for commercial office space, just that FKP wanted to take the least risk and walk away from the development was done (which they can only do if they sell them as apartments or were able to find a buyer for the commercial space).

^^ which projects are you referring to??
the mill had 20,000sqm of office. are you saying that these other buildings are 20,000sqm in size????

77 Hudson road which is 1500m2 and 85 Hudson Road 2600m2. Now I know thats only 4100m2 but thats certainly a decent wack of office space that has come up in the last year and directly across the street. These all started construction in the GFC as well.

Once again im not saying that FKP have done the wrong thing, im merely saying that Albion is a logical location to have as an commercial hub and you saying that this will not happen for a very long time is going against what other commercial developers are doing in the area.

The TAB building is also fairly large.

1,500sqm buildings are a *lot* different to 10,000sqm buildings dude!!
different tenants, different owners, different financials, different risk..
they are chalk and cheese!!

Hardly, did you ever think 1 tenant was going to take up the Mill buildings, hardly. It would have been a mix of tenants just as what these buildings have. I dont see how office buildings of the same quality, in the exact same area are different.

Your argument that there is no demand for commercial premises in Albion is flawed and the only argument you have been able to come up with, is if FKP decided to pull the pin then there musnt be any demand. That is bullshit, come up with some figures or reasons like I have, then your argument may actually become relative.

Yuma, 1,500 vs 20,000 - you'll find there is a HUGE difference in securing funding for each of those buildings. I would hazard a guess that a bank is highly unlikely to fund a larger office component without 75%+ in precommitments.

As far as FKP's model goes, they have to mitigate risk and secure funding. That's all they've done.

Funding is so ridiculously tight at the moment - Devine STILL haven't gotten funding for Hamilton Harbour despite more than 95% sold in stage 1 and more than half in stage 2.

mate if you think they are the same then we probably aren't going to agree. i do agree with you that there is some demand for office space in albion, but i think that the demand is for completely different space to what fkp was offering. a few things to consider..

on the construction side:
fkp's space was designed to pca 'a grade' standards, and a certain green star level. this makes the building much more expensive to construct than a small 1,500sqm building.. but large tenants expect this type of quality, so you need to spec it like this.

on the financing side:
it is a lot harder to get precommitments of 70% of your space when you have 10,000sqm of space compared to 1,500sqm. the air is a lot thinner up higher. this means you either pay a lot more for finance, or you just can't get it.

on the sale side:
say that there are 15 tenants in a 10,000sqm building, ranging in size from 200sqm - 1,500sqm. this presents a lot more risk than having, say, a state government department that takes 8,000sqm and a few little guys in the rest. so if they were able to fill it up with the small tenants that you are talking about, this would significantly erode the end value of the building.

in my own personal view, FKP took a punt on being able to attract another energex or state govt department or engineering company to albion. they didn't acheive this, and the scheme was unviable without it.

i'm sick of debating this now :lol:

I suppose this is on the back burner with Milton now pushing ahead and Newstead picking up momentum. Some official news would be nice though.

In the end they never lodged the application for the 360 unit scheme even though they said they would. Like you said, IMO their focus is elsewhere.

The Old DA is A002165904

http://www.themillalbion.com.au/media/page_images/project_page.jpg

This is back on the agenda.
Email from FKP:

Albion Mill update
Dear Alex,

FKP is pleased to advise that an all new redesigned Albion Mill development will be coming soon to Albion.

The project will showcase Brisbane living at its best and will include:

A mix of sophisticated inner city apartments with city or suburban views
A flourishing lifestyle precinct including a proposed mix of cafes, shopping and convenience retail
A refurbishment of the Heritage Plaza
Comprehensive commercial opportunities
Residents will enjoy the vibrancy and convenience of inner city living balanced with a relaxed community feel.

In the lead up to our release we will continue to communicate with you and provide further details on the development as they are finalised.

FKP Queensland Project Update

With apartment projects underway in Sydney and Melbourne, FKP is excited about our upcoming project releases into Brisbane, continuing with the strategy of reweighting our portfolio of assets towards the residential sector.

Introducing The Milton.

Offering an array of one and two bedroom units, this transit oriented development is located only 2 kilometres from the Brisbane CBD and is well positioned between Milton railway station and the culinary delights of the Park Road cafés and boutique fashion houses.

The Milton is set to launch to the general public on Saturday 11 September.

Should you wish to find out more about our exciting project The Milton, please feel free to visit our project website, www.themilton.com.au, or call FKP’s national call centre on 1800 247 119.

sweet. this was always one of my favourite developments in the suburbs. Glad to see its back on. Albion is becoming a pretty desirable location.

Good news - that site deserves some attention again.

Good to hear It might get back up,In some form anyway ,One of the better ones during he 2004/2005 rush of TOD proposals.

sweet. this was always one of my favourite developments in the suburbs. Glad to see its back on. Albion is becoming a pretty desirable location.

Perfect for a TOD. I won't regret choosing to stay in Albion back in 2008. It was near the city yet quiet. The downside is that lacks provision of basic neighbourhood services apart from a chemist.

Stirring motions appearing on this site.

Good to hear. I want this site redeveloped as it would be a great catalyst for the suburb (and it is blocking the suburb from the rail station ATM as it stands.)

As long as FKP doesn't fudge the project like they did with Milton.

So is the heading still correct on this - 27 stories?? Will be a nice addition and its on a hill.

Stage one includes just the one residential tower although I'm not sure how tall it is. The heritage listed building on site is no longer going to be redeveloped into apartments, however it will be refurbished and is set to include retail and office space as part of the later stages.

Stage one includes just the one residential tower although I'm not sure how tall it is. The heritage listed building on site is no longer going to be redeveloped into apartments, however it will be refurbished and is set to include retail and office space as part of the later stages.

Is there any official word or media on this? Glad to see there is some action on the site, I was really looking forward to this development.

A staged development is better than nothing. They do need to fix the intersection that is opposite the station. I nearly got knocked down there in 2008 (driver not seeing me cross).

I hope that wasnt me, I nearly knocked someone down going thru that intersection. all the cars had stopped so a guy decided to walk across but i was in the far left lane and had some space to move, suddenly he appeared from behind the stopped cars and i had to slam on my brakes to stop from knocking him over. It was my bad. Sorry Fabian :lol:

I am sure a lady was driving, so your in the clear.

Is there any official word or media on this? Glad to see there is some action on the site, I was really looking forward to this development.
Well I couldn't find a DA, but I received something in the mail a couple of weeks ago informing me that the development is proceeding, albeit differently. There was a render but it looked pretty basic.

As long as FKP doesn't fudge the project like they did with Milton.

New DA:
Application number: A003172709

Hopfully by the time the next few stages come around the architecture and the size of the scheme will improve..

http://img846.imageshack.us/img846/2154/98103264.jpg
http://img59.imageshack.us/img59/2307/97633036.jpg
http://img221.imageshack.us/img221/874/47330485klx.jpg
http://img828.imageshack.us/img828/5035/64948355.jpg
http://img708.imageshack.us/img708/3533/82035636.jpg
http://img687.imageshack.us/img687/5549/81299603.jpg
http://img199.imageshack.us/img199/9012/52619491.jpg

wtf is that, looks shit, none of the original mill kept.

It isn't on the site of the mill.

Is it just me or are a lot of non-cbd apartment proposals looking exactly the same...?

wtf is that, looks shit, none of the original mill kept.

Have a closer look at these two images:

http://img846.imageshack.us/img846/2154/98103264.jpg

http://img199.imageshack.us/img199/9012/52619491.jpg

Note in the layout the pink area (the development) and the blue area (the original Mill). And in the render, look at the white complex to the left next to the train station! ;)

Hopefully once these get snapped up they improve the standard of the rest of the project. It still has potential with the integration of the heritage listed mill and train station to come later. While this particular proposal is quite basic, the retail component it brings in along with the building itself will improve the area markedly.

be nice if they can give the train station an upgrade too, used it for 7 years and tired depressing run down place.

be nice if they can give the train station an upgrade too, used it for 7 years and tired depressing run down place.

I'd agree with that - its too open to the elements.

I'd agree with that - its too open to the elements.

The thing I hate in brisbane is different rules for Busway/Rail stations, just cover the entire platforms, no one wants to stand out in the sun or rain.

Shiny new fence put up around this one.

The thing I hate in brisbane is different rules for Busway/Rail stations, just cover the entire platforms, no one wants to stand out in the sun or rain.

And when it rains everyone is forced to cram under the shelter and trains have to dwell for longer causing delays because people will only move to the parts of the train they wish to travel in when it comes.

FLUFF:

http://brisbanetimes.domain.com.au/real-estate-news/derelict-flour-mill-to-become-residential-hub-20111007-1lcdu.html

Derelict flour mill to become residential hub
Tony Moore
October 6, 2011 - 2:54PM

Be the first to comment

An artist's impression of The Mill apartment complex.

An artist's impression of The Mill apartment complex. Photo: Supplied

New plans have been drawn up for the Mill next to Albion train station, one of the first Brisbane transit-orientated developments to come on to the market.

The apartment complex is being built on the site of the historic Albion Flour Mills on Hudson Road next to the Albion train station.

The Mill will be one of first private sector-backed transit-orientated developments in Brisbane, with the state government backing a similar project near Yeerongpilly station.
Advertisement: Story continues below
A design for an apartments in The Mill.

A design for an apartments in The Mill. Photo: Supplied

Transit-orientated developments - where inner-city apartment living is linked to public transport to reduce car usage - became development buzzwords about three years ago.

Today, Albion's old flour mill is a derelict six-storey brick building with two giant silos.

Property group FKP has released this morning details of the $87 million stage one of The Mill development, which they are calling "The Hudson".

This section will include 134 apartments on the car park section of the old flour mill site.

FKP plan to start building next year and have the one, two and three bedroom apartments completed in early 2014.

The second stage - which will include office space - will be built on the old flour mill buildings themselves.

The long-running development was first approved in 2007, and an on-site display section has opened in Hudson Street at Albion this week.

In November 2007, the state government confirmed it would help build a footbridge to the Albion train station from the development.

The old flour mills were built during the 1930s by Scottish migrants, the Gillespie Brothers, and flour was producing at the site for 72 years.

White Wings flour was produced on site from 1957, before it was bought by Defiance Flour in 1983 which ran it as a flour mill until 2002.

Brisbane City Council finally approved The Mill project on January 28, 2008, despite some concerns about how it would fit into the local area.

Construction will start in early 2012 and the apartments, with a starting price of $390,000, should be completed in early 2014.

Gary Kordic, the head of Queensland Developments at FKP, said the revised Albion Mill masterplan allowed for the development to be rolled out over the next five years.

“A uniquely important feature of the Albion Mill masterplan is the invigoration and integration of the historic flour mill,” Mr Kordic said.

The flour mill will be preserved as part of the development.

Mr Kordic said Albion was one of Brisbane's fastest-growing regions in the inner-city belt.

“This seamless connectivity and public infrastructure positions Albion as a 'must live' suburb, particularly as Brisbane's population increases, and demand for apartment housing continues to rise,” he said.

FKP also has a transit-orientated development near Milton station.

whats this the third different proposal for the site? anyone who brought before won't again as they don't want to be messed around by FKP again

FLUFF:



Fluff or paid?

^^ It was in the Domain section of the Brissie Times, so I would say just Fluff. They'd have to disclose if they were paid wouldn't they?

Not necessarily. Depends how its done.

Many of these articles are written by the organisations it is about. It can also be in conjuction with an advertising spread elsewhere.

whats this the third different proposal for the site? anyone who brought before won't again as they don't want to be messed around by FKP again

That's right and like Milton each Iteration is a watered down version of the one preceding.

i'm wondering how successful this albion development will be. it seems that there is an oversupply, especially of units, and especially in the northern suburbs of brisbane.

“according to an article in the australian financial review yesterday, 28 sept 2011, there is a glut of new apartments for sale in the inner northern suburbs of brisbane such as albion and hamilton. *in the reed construction data report from july 2011, more than 7660 new brisbane apartments were either in the market or earmarked for launch before december 2012. *of these, 44% or 3380 apartments were in the inner northern suburbs.”
http://www.brisbane-apartment.com/2011/09/oversupply-in-northern-brisbane.html

“in the rp data-riskmark hedonic index released today, nationally house prices fell a seasonally adjusted 0.4 percent in the month of august 2011. year on year, perth is now down 7.1 percent, brisbane 6.1 percent, hobart 5.3 percent, adelaide 4.9 percent, melbourne 4.3 percent, darwin 3.4 percent and canberra 2.1 percent. sydney is the only capital to record a positive result year on year, nudging just 0.3 percent higher. the falls are now bigger and longer than first experienced during the global financial crisis. across the country, 3.7 percent of homes are now “under water”.
http://www.whocrashedtheeconomy.com/

This feels like dejveau for me. Once I see some cranes, I can then raise the glasses to this one.

Any update on this anyone? I think its a good idea and certainly Albion Rail is in need of the facelift. Says will start 2012, but two years to build????????? Odd.

Downsizers eye derelict mill
Bridie Jabour
December 7, 2011 - 11:23AM

Two penthouses in the Albion Flour Mills development have already sold for more than for $1.1 million each and a waiting list has been created for the other two, bucking the trend of penthouses being last to sell in a building.

The penthouses have both been sold in the past three weeks after the $87 million first stage of the mill development was launched.

The site of the historic Albion Flour Mills, on Hudson Road next to the Albion train station, will be transformed into a "transit-orientated development".

Property group FKP will build 134 apartments and office space in the next few years.

The first stage is the apartment complex which FKP is calling "The Hudson".

FKP head of Queensland Developments Gary Kordic said penthouses were usually the last to sell in a development.

“To have two of the four penthouses in a development sell in just three weeks, and a wait list current, is an extraordinary achievement, given penthouses are traditionally last to sell,” he said. “This is a result we are thrilled with given our vision for Albion Mill is for it to be a place people call home, a village people gravitate to.

“Who would have thought we would be in a situation where we have a penthouse wait list?"

Mr Kordic said both penthouses had been purchased by owner-occupiers looking to downsize from established homes in the local area.

Construction will start in mid-2012 and is planned to be finished by 2014.

The "transit-orientated development" will be built next to the train station to encourage use of public transport as opposed to cars.

At the moment, Albion's old flour mill is a derelict six-storey brick building with two giant silos.

Read more: http://www.brisbanetimes.com.au/queensland/queensland-property/downsizers-eye-derelict-mill-20111207-1oi1p.html#ixzz1foEtWc2M

FKP could sell the entire development today and I doubt construction would start for another 3 years.

This one has been painstakingly slow the whole way.

^^
FKP seems to be concentrating all its efforts on the Gasworks, The Milton has gone nowhere either...

Site photos

July 2012

http://img801.imageshack.us/img801/778/img1413t.jpg
By fabianamuso (http://profile.imageshack.us/user/fabianamuso) at 2012-07-14

http://img856.imageshack.us/img856/7453/img1995o.jpg
By fabianamuso (http://profile.imageshack.us/user/fabianamuso) at 2012-07-14