Olympics-Driven Brisbane Condo Development — First Participation by Mitsubishi Estate

Japanese real estate developer Mitsubishi Estate has joined its first condominium development project in Brisbane, Queensland, Australia. The company is partnering with local developers McNab and Ray White Capital to pursue “The Tannery” residential project — Mitsubishi Estate’s first foray into mid- to high-end condominium development in Brisbane. Construction commenced in February 2026 and the project is scheduled for completion in 2027.

The site is located in the West End district, about a 10-minute drive from Brisbane CBD, offering waterfront views of the Brisbane River. The development’s luxury residential building will rise 10 stories with 81 units and will include an amenity building that preserves a historic structure on site, featuring a pool, gym, and private dining facilities.

Since entering the Australian market in 2016, Mitsubishi Estate has participated in more than 10 residential developments in Melbourne and Sydney. In addition to office, hotel, and logistics projects, the total cumulative project cost of Mitsubishi Estate’s Australian ventures is approximately AUD 18 billion (approximately JPY 1.728 trillion). Recent participation in large-scale mixed-use projects in Sydney further underscores the company’s geographic diversification toward Australia’s third-largest city. Brisbane has seen rapid population growth and increased public investment in anticipation of hosting the 2032 Summer Olympics, supporting sustained demand in the high-end condominium market.

Key Facts

• Property Name: The Tannery

• Developers: McNab, Ray White Capital, Mitsubishi Estate Co., Ltd.

• Location: West End district, Brisbane, Queensland, Australia

• Access: Approx. 10-minute drive from Brisbane CBD

• Construction Start: February 2026 (underway)

• Completion: 2027 (scheduled)

• Number of Floors: 10F

• Total Units (Estimated): 81 units

Mitsubishi Estate Major Australian Development Projects