Charter Hall submits DAs for Brisbane CBD riverfront site
Charter Hall Group (Charter Hall or Group) has partnered with global real estate investor QuadReal, to acquire one of the largest remaining Brisbane CBD development sites, located within the heart of the North Quay renewal precinct.
This acquisition further extends the Charter Hall and QuadReal partnership following the 2019 $630 million acquisition of 201 Elizabeth Street, Sydney, by securing an underdeveloped site and providing optionality for two simultaneously submitted planning applications, which propose either a twin or single tower development.
Charter Hall Managing Director and Group CEO, Mr David Harrison, said “We are delighted to extend our relationship with QuadReal, one of Canada’s largest property groups."
QuadReal Head of Asia, Mr Peter Kim, said “Australia remains a key focus for QuadReal, and the North Quay investment is a direct product of the long-term strategic relationship we have with Charter Hall in that market."
Charter Hall has taken a flexible approach and lodged two Development Applications (DAs) with Brisbane City Council for 309 North Quay — a significant, 6,400sqm infill site located in the Roma Street Urban Renewal Priority Development Area. This development will further enhance the North Quay precinct of the CBD as it undergoes significant revitalisation.
The proposed project, which comprises a DA for a single 50,000sqm commercial tower and a separate DA for two smaller commercial towers of 23,000 sqm & 36,000 sqm each, will act as a catalyst for urban renewal of the surrounding sites, including Roma Street Station — Brisbane’s new ‘Grand Central Station’ made possible with Cross River Rail, Brisbane Metro and the proposed Brisbane Live the city’s new entertainment arena.
The strategically positioned site and previous long-term home of Triple M and B105, is the gateway into the CBD from Coronation Drive, North Quay and the William Jolly Bridge, with uninterrupted views of the Brisbane River and a short walk to the city’s leading entertainment, dining and lifestyle precincts including Queen Street Mall, Suncorp Stadium, The Barracks, Roma Street Parklands, the Queensland Cultural Centre and South Bank.
