Gold Coast developer acquires prime Toowong site

Gold Coast-based builder and developer Immerse Projects has acquired a premier 1,760sqm development site at Toowong for $9.531 million.

The purchase of 22-24 Sylvan Road signifies Immerse Projects’ strategic expansion into Brisbane, following their successful delivery of high-quality residential projects on the Gold Coast.

CBRE’s Will Carman and John Nucifora exclusively managed the sale through a competitive on-market Expressions of Interest campaign.

Mr Carman said, “The sale of 22-24 Sylvan Road highlights the strong demand for strategically located development sites in Brisbane’s inner suburbs. Its proximity to transport, retail, and educational facilities made it an opportunity of strong interest to the broader development community.”

Mr Nucifora noted the purchaser plans to leverage the site’s prime positioning to deliver a high-quality residential project that enhances Toowong’s reputation as a vibrant lifestyle hub.

“Immerse Projects’ acquisition reflects confidence in Toowong, and more broadly Brisbane, as a market of strength for integrated builder developer groups. Those with an integrated model, or with strong existing relationships with builders have continued to be at the forefront of development acquisitions over the past two-year period,” he added.

Located in the vibrant inner-western waterfront suburb of Toowong, the site holds frontage to both Sylvan Road and Landsborough Terrace. Its prime location provides exceptional connectivity, with the Regatta Ferry Terminal, Toowong Train Station, and Sylvan Road Bus Stop nearby.

The site is close to key amenities, including Toowong Village, The Regatta Hotel, The University of Queensland, Wesley Hospital, Toowong State School, Brisbane Boys’ College, Wests Rugby Club, and Indooroopilly Shopping Centre.