Please don't depress me with that picture! I'm trying to stay positive here!! :doh:

^^
There's plenty to be positive about. One element missing that would have made the perfect tower.

Fin Review

Brookfield bids $410 million for Thakral

PUBLISHED: 6 hours 43 MINUTES AGO | UPDATE: 2 hours 11 MINUTES AGO PUBLISHED: 20 Apr 2012 PRINT EDITION: 20 Apr 2012

Brookfield Asset Management has made a a $410 million takeover offer for hotel and development company Thakral Holdings.

great news allround. thakral build cityone. meriton build 115bath!!
http://farm6.staticflickr.com/5463/7094783459_b0cff691b3_b.jpg

great news allround. meriton build 115bath!!

WTF??
Are you actually sure 100% Meriton are now the developers of 115 Bathurst St.
I know the site and DA where up for sale, but Meriton! Sorry, but how is that ''great news'' ?

Please don't depress me with that picture! I'm trying to stay positive here!! :doh:

There is no chance of getting depressed if you just sink your expection levels to zero. It should never have been approved, a major waste of potential. A tower akin to the height of 2WTC would have been far more appropriate. This site the perfect location for a tallie.

WTF??
Are you actually sure 100% Meriton are now the developers of 115 Bathurst St.
I know the site and DA where up for sale, but Meriton! Sorry, but how is that ''great news'' ?
well years ago,i would be worry wort.but im really impressed with last 5-10 years of developmenyts. just look at Brisbanes 2x 250m towers infinity and Soliel. im just going on rumours atm with 115bathurst st. A design comp is currently underway and DA will be submitted this year. anything harry buys he developes. it doesnt collect dust as many others do. cant wait for sydneys new tallest!!:banana:

I know the site and DA where up for sale, but Meriton! Sorry, but how is that ''great news'' ?

They get towers built, and are responsible for some well executed quality buildings in Sydney, like Meriton Tower and World Tower, the best residential tower in the city.
So yes, this is good news because we can be sure Meriton will be very eager to take advantage of an opportunity for a 260m residential building, so this buildings future in the skyline is assured. And Meriton puts some effort into their flagship residential towers, even if they are also done on a budget.

^Fair enough, so its highly likely Meriton will grab it, but its still up for grabs, right ?

You didnt hear it from me :)

They get towers built, and are responsible for some well executed quality buildings in Sydney, like Meriton Tower and World Tower, the best residential tower in the city.
So yes, this is good news because we can be sure Meriton will be very eager to take advantage of an opportunity for a 260m residential building, so this buildings future in the skyline is assured. And Meriton puts some effort into their flagship residential towers, even if they are also done on a budget.

I agree that World Square is well executed but Meriton Tower sadly is not. You only have to stand at the base and look up at it to see sloppy workmanship.

It's a well architected Harry Seidler, if only all cheap crap was that well designed.

I agree that World Square is well executed but Meriton Tower sadly is not. You only have to stand at the base and look up at it to see sloppy workmanship.

It could have been a more worse outcome.

To me, it came out as it would in typical Seidler fashion.

To me, it came out as it would in typical Seidler fashion.

Sloppy workmanship and cheap materials are typical Seidler fashion? It's not one of his best designs, either.

I can see why some people like World Tower, but the fact that internally it's just typical Meriton means that there's no way it could ever be considered the best residential tower in the city.

For me, Cove is is both a superior design to World Tower and a far better example of Seidler's work than Meriton Tower. If Meriton buy this site the building will be flawed no matter how good the design.

Which would people prefer;

A 200m tall of world-class design

or

A 350m tall of far inferior quality - in both design and build

?

The first one.

The first one.
But I'd take the second if it was a poorly built world class design by a great architect.
I mean, poorly performed Mozart is still better than well performed Salieri.

please click>
http://curiousterrain.files.wordpress.com/2012/04/6a00e5505fc4968834010536e09336970b-800wi.jpeg

^
Yep agree. Too many threads are going around in circles. Let's keep the height talk to the allocated threads.

todays AFR. ill try to get full story
Players think big in battle for Thakral
The battle for control of hotel and development group Thakral Holdings could draw in large global players seeking positions in the Australian hospitality market.

In terms of this project, whoever gets their hands on Thrakal will end up with prime city real estate, and that is what they want.

I find that article of good relevance in relation to the Novotel Brighton Beach, where there are plans to expand the hotel, and Thrakal are responsible for the property aspect of that hotel.

http://farm8.staticflickr.com/7094/7218186918_de9406f390_b.jpg

1.3 billion for a 146m tower? WTF!? this project is so lame besides the wynyard upgrade this is poo. Even the suburbs are building bigger projects and for cheaper money. WTF? What a waste of a site. Id recommend this just get cancelled and wait a bit for better economic climate and perhaps. Yes yes bla bla bla council, but we all know if they want to they could probably build what they like there with a bit of noise.

One assumes part of the cost is related to Wynyard Station.

I think that figure relates to the project value not the project cost. When the original DA was lodged in 2010 the project cost was quoted as $425 million.

Adjusted for inflation, it would probably be about $450 million to build the tower.

The project value takes into account the value of the land, the floor space of the retail and office components, returns on rent from leasing of space in both components etc.

Does anyone know if they ended up removing their plan to utilise Wynyard 1 and 2 (old tram tunnels) for part of the parking system?

Thanks

I believe the status quo (current use as carpark) will remain.

Their use should revert back to light rail if anything.

^^
No way! They should be used for a future Military Road/Northern Beaches metro or heavy rail line. Light rail wouldn't cut it.

I think thats a better idea - heavy rail.

^^
No way! They should be used for a future Military Road/Northern Beaches metro or heavy rail line. Light rail wouldn't cut it.


I think the North Shore/ Northern / Central Coast/ North West/ Western lines should use these platforms as heavy rail, any future Northern beaches line should be Metro and thus can run under the harbour. I was shocked to learn that this development was looking to retain use of these platforms for parking arrangements. It disgusts me.

Basically all heavy rail lines/metro (proposed) at one point or another show the line veering off at Chatswood. So the only line that would go down military road would be light rail as it is cost effective and can be easily placed on the current road alignment. This could not be feasible with the current traffic going through Mosman, so it would have to be implemented, if at all, after the Northern Beaches Line. I probably would prefer heavy rail then light rail however in this situation where there is limited chance of heavy rail, I see the return of light rail as the next best thing.

todays fin rev suggests, Thakral are loosing $$ and maybe 5-10years before wynyard is developed.
i swear this site is jinxed

But it is the news we need since we want this tower to rise.

Wouldn't their approval lapse after 5 years or so?

No wonder they are trying to suck more $$ out of Brookfield.

This could explain why Brookfield has delayed the closing of EOI for 115 Bathurst Street (til 12 July). If they don't get what they want from Thakral, 115 Bathurst could be a fallback plan.

Anyway, despite it being a great looking tower and the obvious improvements that can be made to the Wynyard Concourse as part of a redevelopment, I'm not fussed if it doesn't go ahead. If the second harbour crossing is built and it relieves pressure on Wynyard, that means a more extensive refurbishment could include the station itself. And, if we're lucky, in another decade or so the rigid planning controls will have been eased to allow for a taller, more iconic tower that the site deserves.

By then George Street should have been partially pedestrianised, meaning more space for lunchtime office workers to sit and less dependance on sun reaching the GPO steps for a few days in winter ;)

And a height limit all the way down George Street to protect sun access.... :ohno:

wow, westfield? excellent lowry will see it out
todays finrev
http://farm9.staticflickr.com/8165/7600838926_c0131bf97b_b.jpg

Just let them buy the site. It would a unique development for them as well.

Wynyard needs a better plan. A grand station and a grand building - not the pathetic 146 metres :ohno:

146m at a cost of $1b. :? Absolutely pathetic, the site deserves at least 250m or more, if only to have a building worthy of the engineering costs.

Remember this:

1. We are building a new office tower.
2. We are reconstructing a rundown dodgy shopping complex.
3. We are upgrading Wynyard Station.

The bulk of the work will be underground, and hence the cost.

Yes^^ People have to try to see the whole situation rather than one detail and react, BUT, it is ridiculous that the tower is kept relatively short all because of a couple of hours of sunshine in the middle of the day in the middle of June.
Council seems to have NO perspective in such matters and blindly adheres to rules so that what is a well-intentioned regulation is applied with draconian strictness to the letter of the law rather than to the spirit of the law when seen in toto.

Remember this:

1. We are building a new office tower.
2. We are reconstructing a rundown dodgy shopping complex.
3. We are upgrading Wynyard Station.

I am aware. Usually a 146m tower would cost closer to $300m, the expense must be Wynyard station related. What I was getting at, is that making it significantly taller, probably would not push up the costs that much in comparison to the total $1b figure. And would get a better return for both the public and the developer. A project this expensive, should have a more worthy result for the city and skyline or it's a wasted opportunity. Another example of City of Sydney regulations screwing us out of a worthy building.

Keep in mind the engineering works that will go with too. This not going to be easy either as the station will have to remain open and temporary services and infastructure will have to be provided.

Remember this:

1. We are building a new office tower.
2. We are reconstructing a rundown dodgy shopping complex.
3. We are upgrading Wynyard Station.

The bulk of the work will be underground, and hence the cost.

Nah shoulda been taller. It's not like it's right on the rocks or Hyde park in regards to overshadowing

yeah 200m minimum.

white= 235m
red-200m
http://img694.imageshack.us/img694/9719/cityone1.jpg

Woah. Is the 235m achievable within the FSR? Large floor plate tall building, is exactly what the city needs and will also look great in the skyline.

That is amazing!

But what about afternoon winter shadowing at 1.55pm during the month of July over Wynyard Park. It will forever be ruined!

Woah. Is the 235m achievable within the FSR? Large floor plate tall building, is exactly what the city needs and will also look great in the skyline.

They draw on the floorspace that make up the retail complex and Wynyard Station to make the FSR.

That is just plain cruel!

Looks like we could finally be getting some direction with City One. Now for Brookfield to find tenants...

Thakral receivers give tick to offer
Brookfield’s $410 million pursuit of Thakral Holdings entered its endgame yesterday after receivers to a controlling stake in the listed trust signalled it will support the Canadian giant’s takeover offer.

http://afr.com/p/business/property/thakral_receivers_give_tick_to_offer_wN8ejF6IH0tpe0cAlDeb2J

And they deliver. :D

Looks like we could finally be getting some direction with City One. Now for Brookfield to find tenants...

mm, that could be a problem. only international towers and 200george are being done. cant see any other large office projects going up this decade?
resi is booming atm and office aint:bash:

But think of the location. What an address for a major company!!!. :)

^^
The address isn't special when you consider other commercial developments slated for the city - International Towers, 200 George Street, The Ribbon, Norman Foster-designed commercial campus on Broadway. That's close to half a million sq m of arguably better located commercial space.

And major companies aren't going to break their leases early to sign up for a new tower...especially if the rents are higher and especially in a downturn.

That said, Brookfield may want to up their own involvement in the Australian market and this could be a potential new HQ for them.

DOUBLE POST.

Website seems to be doing funny things tonight

yeah 200m minimum.

white= 235m
red-200m
http://img694.imageshack.us/img694/9719/cityone1.jpg

This render makes me cry. We lost the mighty Angel Place tower due to market downturn and now we will miss out on potentially mighty CityOne due to council's own stupidity! They laughed at the originally proposed height limit CityOne! :ohno:

It was the Department of Planning at the end of the day, because they could have allowed something taller, but decided for some consistency with council guidelines.

Thakral has requested a trading halt ahead of an announcement due by Wednesday

http://afr.com/rw/Wires/Stories/2012-08-20/ASXAnnouncements/THG_01324226.pdf

fin review


Thakral deal nears endgame

PUBLISHED: 20 Aug 2012 09:36:00 | UPDATED: 21 Aug 2012 00:13:35


Canadian giant Brookfield Office Properties is poised to swallow Thakral Holdings Group following an apparently fruitless search for a rival suitor.

***
That's all; you know the deal: rest of article by subscription...

^^http://www.afr.com/rf/image/2009-2014/AFR/2012/08/20/Photos/80332eb6-eab2-11e1-a6e8-e0506cc75fd3_120201_wynyard--180x120.jpg

fin review


Brookfield tipped to lift Thakral bid

PUBLISHED: 21 Aug 2012 20:57:24 | UPDATED: 21 Aug 2012 21:13:27


Brookfield Asset Management is expected to lift its bid for the Thakral Holding Group to more than 80¢ in order to win control of the hotel and development operation.
***
full article on subscription...

^^
From a different source but similar content

Brookfield Ups Thakral Bid In Quest For Sydney Redevelopment
By Nichola Saminather - Aug 22, 2012 4:35 PM ET

Brookfield Asset Management Inc. (BAM/A) increased its offer for Thakral Holdings Group (THG), seeking ownership of a development site in central Sydney and hotels, malls, offices and apartments across Australia’s east coast.
Brookfield raised its cash bid to 81 Australian cents a share, from an initial, rejected offer of 70 cents, Thakral and Brookfield said in a joint statement to the Australian stock exchange. Thakral shares surged 7.3 percent to 80.5 Australian cents at the close in Sydney, the highest since October 2008.
Brookfield, a Toronto-based asset manager overseeing about $150 billion of assets, is the parent of Brookfield Multiplex, which last year sought to buy Thakral’s A$250 million ($261 million) Wynyard Center. The redevelopment, which could be worth as much as A$1.3 billion according to local media, has drawn interest from groups including Grocon and Westfield Group.
“Wynyard is the jewel in the crown, a wonderful site in the best part of Sydney,” Stuart Cartledge, Melbourne-based managing director of Phoenix Portfolios, said in a telephone interview. “If Brookfield can buy the whole of Thakral, and sell the bits they don’t want and be left with what they were after in the first place, they could end up buying the development site cheap.”
Thakral shares have soared 49 percent this year, compared with a 7.9 percent gain in the benchmark S&P/ASX 200 Index.


Sweetened Bid


Brookfield’s sweetened bid -- while a 51 percent premium to Thakral’s closing share price on April 18, a day before Brookfield’s first approach -- is a 15.6 percent discount to the value of its assets per security as of Dec. 31, according to data compiled by Bloomberg from company statements.
Independent advisory firm Grant Samuel & Associates said the offer -- which values Thakral at A$474 million according to data compiled by Bloomberg -- while reasonable, is not fair, according to the statement. Thakral’s directors unanimously recommended the bid, subject to no better proposals being received.
Thakral’s independent directors had recommended shareholders reject Brookfield’s earlier A$410 million offer, saying it undervalued the company.
The revised bid is conditional on acceptances from shareholders representing at least 90 percent of Thakral’s issued securities, according to the statement. Brookfield extended the offer period until Sept. 11.
Thakral in April received approval for its concept plan for the Wynyard redevelopment, the company said on April 5. Melbourne-based Grocon submitted a bid for the site, which includes the 446-room Menzies Hotel, an office building, a retail concourse and 335-bay car park, two people familiar with the matter said in June. Westfield was also considering a bid and gained access to Thakral’s data room, the Australian Financial Review reported on July 19.

http://www.bloomberg.com/news/2012-08-22/brookfield-ups-thakral-bid-in-quest-for-sydney-redevelopment-2-.html

architecture&design

New billion dollar tower approved over Sydney's Wynyard Station

12 April, 2012 Madeline Prince 0 comments

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The proposal for a $1.3 billion tower to be built above Wynard Station in Sydney received approval from the NSW Planning Assessment Commission last week.

Property group Thakral Holdings, which owns the building above the train station, lodged a revised development plan for the project late last year following state government objections to earlier plans.

http://www.architectureanddesign.com.au/Article/Major-tower-plans-considered-over-Sydneys-Wynyard-Station/533318.aspx

The City One Wynyard concept design has been developed by Hassell, and it proposes to build a 29-storey tower above the station which includes a new shopping centre and office building.

The plans were approved for the commercial building as it was found that it would provide sufficient benefit to the public and government.

The development will include:


An upgrade to eastern access ways into Wynyard station as well as retail areas and concourse layout.

Use of the building as a mixed use development including commercial offices, business premises, shops, and general retail, food and drink premises, health/medical centre, public amenities, transport facilities and tenant car parking.

Development of the Shell House including refurbishment for commercial and retail use.
The project is deemed to be an important part of the plans to revamp the city and create
easier access between Barangaroo South Office towers and the city centre.



Hassell says the underlying design philosophy for the City One development is to celebrate the activity of the precinct on the concourse and to capture as much daylight as possible.

The Concept design aspires to a 6 Star Green Star rating, with the following major features:


Daylight and quality of commercial office environment
Location to public transportation
Capacity for natural ventilation through the double skin façade
Efficient Mechanical systems
Rainwater harvesting
Low energy lighting systems
Waste Recycling
Modular construction

I hope they'll revamp the Wynyard station on platform level That area looks so bland and tiring.

It's part of the deal. Check the link for a pic; scroll back through this thread for pics.

I hope they'll revamp the Wynyard station on platform level That area looks so bland and tiring.

I hope they retain it's heritage 1930s design, it's still mostly as the original Bradfield design on the platform level. And they have to keep the old historic wooden escalators too! They should not go beyond new floor tiles and a paint job.

I'd say that the upgrade will mean the end of the wooden escalators.

There isn't much heritagewise to keep in Wynyard station.

Anyways, bring on the construction. :)

I hope they'll revamp the Wynyard station on platform level That area looks so bland and tiring.

It's part of the deal. Check the link for a pic; scroll back through this thread for pics.

As I understand it, part of the project is to rejuvenate the concourse, but not the station platforms. I'm not sure of the extent of the concourse refurbishment though (i.e. whether it includes the Coles Central supermarket area, or just the area between the turnstiles and Wynyard Walkways).

The station platforms are extremely difficult to significantly improve at present. Significant works would necessitate the closure of platforms for weeks if not months. Any refurbishment would likely be improving the functionality of the platforms. Some ideas;
- Installing glass walls and doors so people don't have to stand behind the yellow line (and therefore creating more space for commuters).
- Painting door signs on the platform so that those waiting on the platform do not block commuters from getting off the train.
- Reducing the amount or location of chairs on the platform to improve flows.
- Improving signage.

A substantial station refurbishment probably couldn't be undertaken until the construction of a second harbour crossing, which would ease some of the existing pressure on Wynyard, and what is yet to come with Barangaroo.

From what I have seen of the plans from memory, even the retail area where Coles is will also be subject to the upgrades to the concourse.

Yes I think you are right. I think the Coles section is referred to as the Shell House retail area in the lodged plans.

I'm interested to see how Thakral's plans to maximise natural light go. With a new tower built above the concourse, I'm assuming the natural lighting will be limited to the Coles area?

Surprised the developer is footing all these costs for just 150 metres. No complaints though as it is long overdue for a facelift.

Some ideas;
- Installing glass walls and doors so people don't have to stand behind the yellow line (and therefore creating more space for commuters).
- Painting door signs on the platform so that those waiting on the platform do not block commuters from getting off the train.
- Reducing the amount or location of chairs on the platform to improve flows.
- Improving signage.

I imagine those ideas are more dependant on CityRail then anything else. Metro-style glass doors and barriers would require drivers to be skilled enough to actually stop the train to align at a specific point. I am sure there is a whole lot of bureaucratic and union red tape that would disallow that. :lol:

I personally think all the underground platforms for all stations should move the escalators/stairs/platform offices to the very ends of the platforms. Probably a very expensive and difficult task but it would remove most of the platform clutter & obstacles.

Wynyard Railway Refreshment Room, 1936
http://farm6.staticflickr.com/5214/5454626856_19b43d75a7_b.jpg

Is that now the Concourse Bar?

Actually it was where McDonalds at Wynyard is now.

http://www.railpage.com.au/f-t11302048-s105.htm

Actually it was where McDonalds at Wynyard is now.

http://www.railpage.com.au/f-t11302048-s105.htm

Actually? It looks so much bigger there then it does now. Weird how things change!

From that information it was there. I cannot say if there was just the one access point or the two we have now at Wynyard Walk.

Yes, I was wondering if a 2nd entrance was opened during the construction of the office building atop the station on George Street. Was that around 1963?

As an interesting aside, the Draft NSW Transport Masterplan released today indicated that 110,000 people use Wynyard Station every weekday. Take away weekends and public holidays and you have 27.72 million people every year solely on weekdays.

Barangaroo is expected to add an extra 14,000 people on a typical weekday. This would push the number of commuters on weekdays per year to over 30 million. One would also expect an uplift in commuters with the construction of towers in the Wynyard catchment (like 200 George, City One, 333 George, 5 Martin Place and 383 George).

If I was the Government, I'd be keen for Brookfield to takeover Thakral and get at least the lower level upgrades complete by the time Barangaroo starts to open in 2015.

As an interesting aside, the Draft NSW Transport Masterplan released today indicated that 110,000 people use Wynyard Station every weekday.

That's a huge number. To give some perspective, the busiest subway station in New York, 42nd Times Square, has 164,000 passengers a day on 9 platforms. And the busiest tube station in London, Waterloo station, has 224,000 passengers a day on 19 platforms. Wynyard's 4 platforms are already at or past crowding levels of these much bigger cities. Clearly Wynyard needs an upgrade, hopefully will come with the second harbour crossing.

^^
Yes, it shows the CityRail network's huge dependency on the successful operation of three stations - Central (170,000/weekday), Town Hall (150,000/weekday) and Wynyard. There's a huge drop off to the next busiest station - Circular Quay - and it could be said that the remaining CityCircle stations are underutilised a lot.

A big decision the Government will have to make with the second harbour crossing is which alignment - 'MetroWest' or 'MetroPitt?' There are powerful cases for both...

I think any major upgrade of the platforms themselves will only be conducted after the second harbour crossing is built.

Yes, it shows the CityRail network's huge dependency on the successful operation of three stations - Central (170,000/weekday), Town Hall (150,000/weekday) and Wynyard. There's a huge drop off to the next busiest station - Circular Quay - and it could be said that the remaining CityCircle stations are underutilised a lot.
The 4th busiest station is Parramatta, then North Sydney no. 5.
Circular Quay only comes 13th.

Source:
http://www.skyscrapercity.com/showpost.php?p=94311535&postcount=4749

^^
Shows how underutilised the rest of the CBD stations are.

Not immediate news, as such, but good news for the overall project. Brookfield has officially taken over Thakral and as such will assume ownership and control of this site. Brookfield see it as a golden redevelopment opportunity - no word on whether they will pursue a redevelopment of the site as approved, or if they will seek some modifications.

Thakral sees the writing on wall
BY: BRIDGET CARTER From: The Australian September 13, 2012 12:00AM

ACQUISITIONS: Diversified property owner Thakral Holdings will be delisted from the Australian Securities Exchange after Brookfield Multiplex secured support from more than 90 per cent of the company's shareholders for its takeover bid.

The entity acting for Brookfield, Bidco, yesterday said that after receiving 93 per cent support for the offer, it was compulsory for the remaining shareholders to accept its proposal.

Brookfield bid $410 million for Thakral in April after initially vying for Thakral's $1 billion-plus mixed-use redevelopment site at Wynyard train station in the heart of Sydney's central business district.

But last month, Brookfield sweetened its initial 70c-a-share offer in the form of a two-tiered bid, where shareholders would receive 81c a unit if more than 90 per cent accepted.

Thakral, with a market value of $471m, owns hotels including the Sofitel Brisbane, the Menzies Hotel at Wynyard, retail centres and residential development properties.

For the 2012 financial year, Thakral Holdings rebounded from a $21m loss to post a $2.6m net profit. The Thakral board had previously advised shareholders to reject Brookfield's initial offer.

Canadian private equity giant Brookfield made the takeover approach after it secured control of the majority of the Thakral family's 43 per cent stake in the company through a debt purchase.

Previously, just under half of Thakral's board comprised family members.

Meanwhile, Austock Property Management also yesterday announced that its shareholders had approved the sale of its property funds management business to the Greg Paramor-backed listed property group Folkestone.

http://www.theaustralian.com.au/business/property/thakral-sees-the-writing-on-wall/story-fn9656lz-1226472894669

Brookfield eyes hotel value
SEPTEMBER 27, 2012 BY THE MP REPORT LEAVE A COMMENT

Canadian giant Brookfield Asset Management will look to “monetise” about $550 million of hotels it picked up in its takeover of Thakral Holdings Group.
Brookfield’s offer for Thakral closed earlier this week, garnering about 97 per cent of the register, and it will now privatise the group.
Brookfield chief financial officer Brian Lawson told a conference in Canada last week that the group had pursued the Australian trust mainly due to its planned $1.3 billion Wynyard City One development in the Sydney CBD.
“The thing that really attracted us to it was they have an outstanding development site in central Sydney,” he said.
Hotels were “not a core investment strategy for us, although we do own a few now”, he added.
Brookfield took a position on Thakral last year after buying up the debt to a 38.6 per cent bundle of shares held by the Thakral family from Singapore’s GIC Real Estate.
It called in receivers PPB in April and launched a full bid for Thakral.
Mr Lawson said that Brookfield had “enough conviction” from observing what was going on in the takeover process to “feel that we’ll be able to monetise those [hotels] at a good rate”.
Brookfield’s senior managing partner in Australia, Brian Kingston, said that now the group had closed the transaction, the next step would be assessing each of the assets and deciding its strategies.
Brookfield, advised by UBS, won over investors after sweetening its bid to 81¢ per Thakral security. Macquarie Capital and Investec advised Thakral.
Thakral’s hotel portfolio of six four- to five-star hotels along Australia’s eastern seaboard is one of the last prizes in the sector.
The hotels are managed by Accor – Sofitel Brisbane and Gold Coast, the Menzies and Novotel Brighton and Wollongong in NSW – and Hilton, which runs the Hilton on the Park in Melbourne.
Thakral’s entire portfolio of hotels, retail and office buildings, apartments and development properties comprises just over $1 billion. Hotels made up about $684 million of this on the latest valuations.
Independent expert Grant Samuel said that excluding The Menzies Hotel – which is part of the Wynyard site – the portfolio was worth between $559 million and $565 million.

http://thempreport.com.au/2012/09/27/brookfield-eyes-hotel-value/

Bump

Things happening behind the scenes, not sure what it means time wise...

That said, 301 George Street (Thakral House) has commercial space available for lease with ''flexible lease terms available.''

http://www.realcommercial.com.au/property-offices-nsw-sydney-5770791

I'm hopeful that Brookfield are able to secure pre-commitments that enable this project to be completed at least around the same time as the first towers at Barangaroo South.

Its a case of business as usual for me with the tower. Still no closer to knowing when construction will begin.

Bump.

This project is now known as 'One Carrington Street.'

If I skimmed correctly, Brookfield Multiplex is going to hold a design competition for the commercial tower which will form Phase 1 of the project, along with the refurbishment of the Wynyard Walkways east of Carrington Street. Phase 2 of the project will seek the refurbishment of RailCorp owned space west of Carrington Street.

https://majorprojects.affinitylive.com/public/f02af24b33414dea603721fc4756c141/One%20Carrington%20Street_%20Final%20DGR%20Request%201Feb13.pdf

http://majorprojects.planning.nsw.gov.au/index.pl?action=view_job&job_id=5824

Because this project will inevitably draw a lot of posts on the railway station and retail component, I've asked the mods to edit the title from office to mixed. Furthermore, I've asked them to revert the title to proposed from approved so we are more clear of where it is in the planning pipeline.

This is my favourite office building in the cbd the glass looks really good

Wrong thread sorry guys thought it was anz building

Thought they'd already had a design competition for this site?
Had a scroll through the documents but there's no significant detail beyond what Sky posted. The tiny wonder is, will they try for something a little taller if they aren't going with the current - rather good! - design?

Yeah I actually like the design. So I hope a comp will give us something even better and taller.

Fat chance that will happen. The request for DGRs was quite clear that the proposal should not cast shadows over the GPO steps or northern facade.

I'm only expecting a refinement to the existing design. Not much else.