An Olympic Opportunity 100 Years in the Making

The transformation of Brisbane ahead of the 2032 Olympic and Paralympic Games has taken another significant step, with former Olympians Mark and Tracy Stockwell expanding their footprint through the acquisition of the former Paul’s Milk Factory site in South Brisbane.

The purchase of the historic riverfront site on Montague Road, long known as the Parmalat site, adds to Stockwell’s existing holdings in the Kurilpa peninsula and creates a combined landholding of more than five hectares. The acquisition strengthens plans for a major mixed-use precinct that could become one of Brisbane’s most prominent Games-era developments.

A Precinct Taking Shape

The site sits within Brisbane’s rapidly evolving inner-city corridor between West End and South Bank, an area earmarked for increased housing, hospitality and public space as the city prepares for 2032 and beyond.

Plans lodged for the site include a 30-storey residential tower with 299 apartments, followed by a build-to-rent development and a proposed 400-room hotel. Across the wider precinct, future stages could eventually include up to 12 residential towers alongside retail, dining and entertainment offerings.

The broader proposal also includes public spaces, community facilities and hospitality venues designed to activate the riverfront and create a destination that extends beyond the Olympic period.

“This is a one-in-100-year opportunity as the milk factory started its life in 1930,” Mark Stockwell said, “Our first investment in West End was in 1997. Since that time, I have always looked at the Paul’s Milk Factory sites as the prize development site of Brisbane.”

More Than Just Olympic Venues

While major sporting venues often dominate the conversation around Brisbane 2032, projects like this highlight the broader legacy opportunities associated with the Games.

Stockwell has proposed temporary Olympic venues for sport climbing and skateboarding, alongside public realm features including a river stage, community spaces and new hospitality destinations. The precinct's location, within walking distance of multiple train stations, bridges and major destinations including South Bank, the CBD and Suncorp Stadium, positions it as an important connector within Brisbane’s future urban landscape.

These types of projects represent significant opportunities beyond stadium construction, driving investment in housing, transport connectivity and urban renewal.

Looking Beyond 2032

As Brisbane’s Olympic countdown continues, the Kurilpa precinct demonstrates how the Games are influencing not only sporting infrastructure but the wider shape of the city.

The Stockwell investment is yet another example of how Brisbane 2032 is driving long-term investment, creating opportunities that will leave a lasting impact well beyond the closing ceremony.