Stockwell consolidates Parmalat factory site in South Brisbane
Local developer Stockwell has acquired the balance of former Paul’s Milk Factory, also known as the Parmalat milk site, consolidating control of one of the largest privately held redevelopment opportunities on the Kurilpa Peninsula.
The purchase of 65 Montague Rd, South Brisbane, comes a year since Stockwell acquired 108 Montague Rd, diagonally adjacent (pictured, top), offered in 2024 by Lactalis following a review of non-core property assets.
The latest deal gives the developer more than five hectares across a riverfront precinct between South Bank and West End.
An integrated project is planned for the amalgamation; the group last year applied for the first stage at #108, with a 30 level residential tower containing 299 apartments.
It also allocated part of that 1.7ha holding for a build to rent investment and 400-suite hotel.
Stockwell is led by ex-Australian Olympic swimmers Mark Stockwell and wife Tracy (nee Caulkins).
Site eyed decades: developer
The latest Stockwell site, operating as a milk-processing facility since the 1930s, is regarded as one of the last major industrial landholdings remaining on Brisbane’s inner-city waterfront.
Lactalis announced plans to close earlier this year citing ageing infrastructure and a shift in the area’s planning direction away from industrial uses, which has boosted land value (continues below).
More than 200 jobs are expected to be affected by the shutdown.
Mr Stockwell said he has eyed the sites for decades.
“Together, these acquisitions unlock more than five hectares on Kurilpa Peninsula, which is at the centre of everything which links our city,” according to the executive.
“With seven bridges and three train stations in walking distance, it connects with the CBD, Suncorp and Olympic stadiums and Queens’s Wharf,” he added.
“It brings together West End and South Brisbane with established cultural, recreational, commercial and residential precincts.
“A compelling opportunity for mixed-use development exists extending South Bank and the Cultural Precinct as key drivers for the city.
“As a cross generational business with a 74 year legacy, we take pride in shaping places that stand the test of time and our next chapter on Kurilpa will be no exception”.
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