Prominent South East Queensland builder-developer Gardner Vaughan Group has expanded its inner-city footprint with the $23.159 million off-market acquisition of a permit-ready, 3,846-square-metre site at 75–85 Cleveland Street in Stones Corner.
Sold by Kieran Gartshore’s DAKL Group in a deal brokered by RWC Queensland’s Tom Barr, the purchase of the holding—approved for 226 apartments across two 12-storey towers—underscores a broader shift in Brisbane’s high-density market, where integrated developers are aggressively securing shovel-ready land to hedge against widespread construction delivery pressures across the state.
A high-density footprint in a rapidly gentrifying urban hub
The Cleveland Street property carries existing development approval for 226 residential apartments across two 12-storey towers designed by NMDS Architecture. Connected via a skybridge, the proposed design incorporates extensive vertical and horizontal landscaping alongside dual rooftop recreation decks, featuring amenities such as a swimming pool, gymnasium, communal dining areas, and private gardens.
The $23.159 million purchase price reflects a land site rate of $6,022 per square metre and approximately $102,500 per approved dwelling site.
Holding a High Density Residential (HDR1) zoning, the holding spans six combined allotments featuring 90.5 metres of frontage to Cleveland Street. Existing improvements on the land—comprising two detached residential houses and three low-rise unit blocks containing 19 units—will be cleared to pave the way for the two-tower master plan.
Integrated construction capabilities driving site acquisitions
The rapid execution of the deal reflects intense demand for shovel-ready land among developers capable of managing their own construction, according to RWC Queensland’s Tom Barr.
According to Mr Barr, Gardner Vaughan Group was actively seeking a new site to reinforce both its construction and project pipelines when RWC Queensland presented the opportunity. Upon learning the Cleveland Street holding might become available, the developer acted immediately, securing an off-market deal before the property was publicly listed.
Mr Barr noted that economic pressures and sector-wide delivery bottlenecks have fundamentally reshaped South East Queensland’s competitive landscape. He observed that ongoing construction challenges have positioned integrated builder-developers—those who handle both design and construction in-house—as the most aggressive buyers of Brisbane apartment sites, with this latest transaction serving as a clear indication of that market trend.
Consolidating momentum in a key infrastructure corridor
Led by father-and-son duo Guy and Sam Gardner, the family-owned Gardner Vaughan Group has been steadily deepening its commitment to Stones Corner. The acquisition follows the completion of the group’s 90-apartment Stonebrook project on nearby Flora Street and aligns with its ongoing rollout of the VIVO residential project in the same precinct.
The Cleveland Street holding places the planned complex within one kilometre of the Boggo Road health precinct—which includes the Princess Alexandra Hospital—and 1.25 kilometres from Greenslopes Private Hospital.
The acquisition also arrives on the heels of significant urban planning reform for the area. Brisbane City Council recently formally adopted and gazetted the Stones Corner suburban renewal precinct plan into the City Plan, ushering in higher-density provisions and expanded building height limits aimed at fostering urban renewal, retail activation, and higher-density living along key transit corridors.
Published 7-Aug-2026
