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Council approves Ashe Morgan's $500 million two-tower redevelopment

Invest / Direct Property Funds

Australia / Brisbane

Mar 27 2018

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Brisbane City Council has approved the redevelopment of two former government buildings, which will see them merged to form one $500 million office tower. 

The buildings at 155 Charlotte Street and 150 Mary Street will be developed by Sydney-based financial house Ashe Morgan and DMANN Corporation.

Health and Forestry House, bought by Ashe Morgan for $65 million, will be converted from two 17-storey buildings into one 42,000-square-metre, 26-storey development, creating campus-style podium floor plates of 2400sq m to 2500sq m.

David Mann, AM Brisbane CBD Investments director said he anticipated Midtown Centre would be completed by mid 2020, delivered in a window of low new supply in the Brisbane CBD office market.

The merging of the two buildings is a 230 per cent more environmentally friendly option than rebuilding demolished buildings. 

Architectural firm Fender Katsalidis has designed the new tower, which will include a sky garden on level 20 along with restoration of Charlotte Street heritage facade.

 

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