Australia / Brisbane
Mar 27 2018Add to Favorites
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.
CapitaLand Commercial Trust Management Limited, the Manager of CapitaLand Commercial Trust (CCT or Trust), is pleased to report distributable income of S$82.7 million for the quarter ended 31 March 2019 (1Q 2019), an uplift of 8.0% from 1Q 2018. Distribution per unit (DPU) was 2.20 cents, 3.8% higher than the 2.12 cents a year ago.
Residential developer Legacy Property is set to commence a syndicated equity raise for its 7thand final stage of Caddens Hill, with minimum investment amounts starting at $250,000, targeting 17.5% investment return over the twelve-month construction period.
MP Funds Management (MPFM) has made its first investment of 2019, a co-investment with another group that MPFM has a successful and ongoing co-investment relationship with. The acquisition of the Crossroads Homemaker Supercenter (the subject property) is an opportunity of scale and dominance in one of Australia’s most significant growth regions. The centre offers an existing net lettable area of 47,997sqm on 143,997sqm land over 4 separate lots. 93% of the property income is underpinned by national retailers including Bunnings Warehouse, Freedom, Fantastic Furniture, the Good Guys and Nick Scali.
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