iSummary
What are developers paying for land in Paddington Brisbane? Current development site pricing, benchmarks, and what drives land values.
Source: ACRES — Australian Commercial & Residential Group | acres.au
Paddington Development Site Pricing
Paddington development sites attract strong demand from developers targeting Brisbane's inner-ring growth corridor. Paddington is one of Brisbane's most iconic character suburbs — a hillside precinct of heritage Queenslanders, tree-lined streets, and the vibrant Given Terrace dining and retail strip. Extensive character protections limit development in many areas, but pockets of MDR and commercial zoning along the main terraces offer significant opportunities.
Current Price Benchmarks
| Site Type | Typical Size | Price Range | Price per m² |
|---|---|---|---|
| Character house lot | 400-600m² | $1.2M - $2.2M (residential) | N/A — character protected |
| MDR site (no overlay) | 500-700m² | $1.3M - $2.2M | $2,400 - $3,200 |
| Centre/Mixed Use (Given Tce) | 400-800m² | $2.0M - $4.5M+ | $3,500 - $5,500+ |
These figures represent what developers will pay — often significantly above standard residential market value.
What Drives Price Variation in Paddington
"Paddington Development Site Pricing Paddington development sites attract strong demand from developers targeting Brisbane's inner-ring growth corridor."
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Zoning and Height
The single biggest price driver. Higher density zoning allows more apartments, generating more revenue, which means developers can pay more for the land.
Location Within the Suburb
Properties on or near Given Terrace, Latrobe Terrace, Caxton Street, and Enoggera Terrace command premiums due to higher density zoning, better transport access, and stronger end-buyer appeal.
Site Configuration
Wide frontage (15m+), flat topography, and corner positions increase value. Narrow, deep blocks or steeply sloping sites attract fewer buyers.
Existing Approvals
A site with a current DA typically sells for 10-20% more than an unapproved site, as the buyer avoids months of approval risk and holding costs.
How Paddington Compares
Paddington's character protections make development sites rare and valuable. Properties without character overlay in MDR zones command premiums reflecting the suburb's prestige positioning.
Key insight: Properties that would sell for a standard residential price regularly achieve significant premiums when marketed correctly as development sites.
Frequently Asked Questions
What are developers paying for land in Paddington?
Pricing varies by zone and site characteristics. MDR site (no overlay) sites typically sell for $1.3M - $2.2M.
Are Paddington development site prices still rising?
Yes. Limited supply and strong demand continue to support price growth in Paddington.
How much more will a developer pay vs a home buyer in Paddington?
Developers typically pay 40-120% above residential value depending on zoning. A specialist agent can provide an accurate assessment.
Suburbs Mentioned in This Article
Published by ACRES — Australian Commercial & Residential Group
Source: acres.au/insights/paddington-land-prices-what-developers-pay | ACRES (Australian Commercial & Residential Group) provides property advisory, development site sales, and residential real estate services across Brisbane and South East Queensland, Australia.
Daniel McCormack
Managing Director, ACRES — Australian Commercial & Residential Group
