Will ‘Renzo’s Place’ Finally Find New Life? Property On the Market After Years of Neglect

Renzo’s Place
Photo credit: Google Street View

A sprawling 5000-square-meter property in The Gap, known as “Renzo’s Place,” could soon have a new chapter in its decades-long story.


Read: Developers Look to Transform Eyesore on Waterworks Road Into New Community Asset


The site at 836-842 Waterworks Road, vacant and deteriorating for over a decade, has been listed for sale by receivers McGrathNicol late last year through an expressions of interest campaign.

Photo credit: Google Street View

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The property has a colorful history dating back to 1958 when it was purchased by Renzo Zanuttini, a pioneering developer and one of the early Italian immigrants to Australia. Zanuttini, renowned for building the Sunshine Coast’s first high-rise, cultivated an immaculate garden on the site, earning him local acclaim. 

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Over the years, the land’s prime location next to a BP service station and the now-relocated Gap Handyman Centre, made it a significant but underutilized piece of real estate.

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Efforts to redevelop the site have faced multiple hurdles. In 2017, plans for a six-level unit project were shelved, and a more recent 2023 proposal for a mixed-use hub, including 26 retirement units, childcare facilities for 86 children, healthcare services, and five additional residential units, was approved in June. However, no progress has been made, and the approval is set to expire in November 2024.

Artist’s impression of proposed development for 836-842 Waterworks Road (Photo credit: Aspect/ Brisbane PD Online)

The property’s sale is being managed under instructions from McGrathNicol receivers Robert Smith and Mark Holland, overseeing K2M Investments No. 2 Pty Ltd, the company behind the 2023 development proposal

Although interest from buyers has been reported, details remain under wraps. Both McGrathNicol and Ray White Commercial, the listing agents, declined to comment on the sale process, citing the property’s receivership status.

“Renzo’s Place” has also become an urban exploration hotspot, attracting adventurers intrigued by its storied past and state of disrepair. For the local community, the property’s fate is a subject of much interest, with hopes that new ownership will finally bring the site to life.


Read: The Gap Gets First Downsizer Housing Project with Nature’s Edge


As it stands, the future of this iconic Brisbane property remains uncertain. Whether it becomes a bustling hub of activity or continues to languish depends on whether a new buyer steps in before the current development approval lapses. One thing is certain: the next chapter of “Renzo’s Place” will be closely watched.

Published 17-January-2025