Perth-based Cedar Woods Properties have submitted a development application on the former Sisters of Mercy site in Wooloowin on Brisbane’s inner north.
The developer acquired 22 Morris & 60 Bridge Street, Woolloowin, a 38,400 square metre site in late 2015 and is proposing a five year staged mixed density residential development with a primary focus on terrace home housing.
The masterplan consists of five stages:
- Stage 1 – 24 terrace homes
- Stage 2 – 13 terrace homes, a 6 and 5 storey apartment building and the conversion of a heritage building
- Stage 3 – 9 terrace homes
- Stage 4 – 18 terrace homes and a 6 storey apartment building
- Stage 5 – 18 terrace homes and a new park
Heritage Buildings
The Heritage Laundry building and the Heritage Convent building which were built around 1889 will be repurposed into new residential uses that honour the existing architecture of the buildings. A new two and three storey extension is planned for the laundry building to enable minimal building work in the existing building.
Designed by Rothelowman, the design is said to allow for vegetated streetscapes and large open spaces adjacent to heritage buildings on the site in order to maximise view lines from Chalk Street to the former laundry building.
The subject site was put to a competitive tender sale process in 2015 which saw Leighton Properties, Sunland, Mirvac and Consolidated Properties vying for the site.
The Sisters of Mercy intend to continue to use a small part of the site and some of the existing buildings fronting Morris Street however they will cease operations and exit the site as they finalise relocation of their facilities to other sites in Brisbane over the next few years.
The historic use of the site by the Sisters of Mercy has been discontinued over recent years, with the only uses continuing on the site since 2014 being a number of office administration functions, the remaining nursing care units, and the commercial catering operation known as the Cookery Nook.
The development application number for this proposed development is A004465701.
ProNova Partners = Sold Companies. 115+ Current ‘Q3 2022 Targets for Sale!
If you’re interested in selling or just checking in on the valuation of your enterprise…please feel free to reach out to me directly to book an appointment {CONFIDENTIALLY} to explore further: https://www.calendly.com/rickcarlson
On our end – we had 33 closings in 2021, with a dozen more (ranging from $1505k to $25MM all-cash) closings scheduled by October 1st and we’re running low on salable inventory again. M&A marches onward despite these uncertain times!!
I’d ideally like to take some time to begin a discussion on the sale of either your enterprise, we can commence ‘packaging’ the opportunity together so we can hopefully go to market and close by year-end. If you disagree, for whatever reason, hopefully just give me a follow up date that you think makes sense and I can circle back with you at that time.
But why ProNova Partners?
– We have plenty of cash buyers that are active & decisive acquirers for good inventory.
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– We specialize in highly-sensitive and confidential sales and recognize its importance, therefore all buyers have an NDA on file with us.
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– We are experts in valuation – by applying the correct valuation strategy to your firm, or your client’s firm, we can therefore negotiate the highest possible price for that business.
– We understand the importance of time to close, and considering all of the above we also have an average 90 days to close for our buyers / sellers.
– We are a success fee ONLY firm, unless we close the transaction for you, there is no charge to you.
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~~ If you want to buy!!! ~~
Some of our recent new engagements just listed from ‘Q2 include:
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We also have an irrigation business in Arizona coming up soon, also a paving/snow removal business in New England coming online in the next week or two. Email me if either of those are interesting so we can add you to our buyer list for it!!! 🙂
Or check out one of our other 115+ active engagements across all SIC codes / geographies / valuations! You can also bookmark our website, https://www.pronovpartners.com/engagements/ to check in on future deals anytime.
Cheers,
-Rick.
—
Rick Carlson
CEO
ProNova Partners
825 Wilshire Blvd., Suite 536
Santa Monica, CA 90401
Phone: 830-465-4676
Email: RC0322@ProNovaPartners.com
Web: https://www.ProNovaPartners.com
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