Earlier this year, Lactalis Australia announced the closing of their historic 1930s milk factory, known as Parmalat. Now, it has been revealed that the secret buyers of the site are two Olympians, Mark and Tracy Stockwell, who have put forward a plan to transform it into a huge entertainment hub for the 2032 Games, including a 400-room hotel, an apartment building, and more.
The milk-processing plant, which will be closing in September, has been rezoned for mixed-used development. In addition to the accommodation options, the new area will feature an athlete walk of champions — replicating Paris 2024’s successful Champions Park, where athletes were presented to thousands of fans — at the new riverside parkland, a trail of bars and taprooms, and two Games venues to host sport climbing and skateboarding have been proposed.
The plant’s location on popular Montague Road make it a well-connected, much sought-after site, and the Stockwells are looking to remake it in South Bank’s image, with a mix of residential, professional, and entertainment-focused venues.
The full redevelopment may take up to 15 years and, because the site is within the Montague Road Provisional Priority Development Area, the development applications for it are assessed by Economic Development Queensland rather than the Brisbane City Council, which could potentially accelerate the timeline.
This is all part of a larger plan to revitalise several sites across South Brisbane, building eateries, entertainment venues, a public square inspired by Times Square, and better connections to Suncorp Stadium. The project’s first stage will be the 30-level apartment building.
Though there are some concerns about labour shortages, what with the Brisbane Stadium and National Aquatic Centre being built, as well as this massive project, if migration patterns continue to favour Brisbane the way they have, with 21,000 Aussies moving to Queensland from other states over the last year, there should be enough workers to deliver the project.
