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Leighton set to build on $29m Valley site
09 Mar 2007
Leighton Holdings is planning a 28,000sqm office building on a big development site it has contracted to buy for about $29 million in Brisbane's Fortitude Valley.
Leighton Properties and Leighton Contractors will jointly develop the 1ha site, which is home to the Brisbane Indoor Sports Centre, on the corner of Wickham and Brookes streets.
The move further strengthens Leighton's push into Queensland, where it outlaid about $95 million last month for a 40 per stake in a Brisbane-based home builder, Devine, and where it already has a strong work-book in development and construction.
Leighton Contractors is planning to move from its Coronation Drive headquarters to occupy "a significant portion" of the new building on completion early in 2009.
Leighton Properties managing director Vyril Vella confirmed yesterday that contracts for the site purchase had been exchanged.
The vendor, Australian Hearing Aids, occupies space on the site and will move to a new facility elsewhere.
Leighton Properties director and Queensland manager Andrew Borger said the "highly visible" corner was on the main route out of the city, close to public transport and to the north-south bypass tunnel.
"The size of the site offers us flexibility in planning and allows us to stage the construction," Mr Borger said.
It was also in the heart of Fortitude Valley's new lifestyle precinct, close to the Anthony John Group's $225 million Emporium mixed-use development and to the James Street dining and entertainment zone.
Leighton Contractors northern region manager Darren Weir said the project would allow his company to consolidate its offices under one roof in "a vibrant growth corridor".
"Attracting and retaining staff is a key challenge for the construction industry and I am confident this location will be a place where people want to work," he said.
Mr Weir said the new venture would build on the successful partnership between the two Leighton arms that created the award-winning Green Square project nearby.
The new development meant Leighton Properties would have 115,000sqm of office space in the Brisbane market, with Green Square, Wickham Street and the CBD office tower at 400 George Street, a joint venture with Grosvenor Australia, now planned or under construction.
Meanwhile, near the Wickham Street site, the Valley Police Station is also scheduled for redevelopment soon.
09 Mar 2007
Leighton Holdings is planning a 28,000sqm office building on a big development site it has contracted to buy for about $29 million in Brisbane's Fortitude Valley.
Leighton Properties and Leighton Contractors will jointly develop the 1ha site, which is home to the Brisbane Indoor Sports Centre, on the corner of Wickham and Brookes streets.
The move further strengthens Leighton's push into Queensland, where it outlaid about $95 million last month for a 40 per stake in a Brisbane-based home builder, Devine, and where it already has a strong work-book in development and construction.
Leighton Contractors is planning to move from its Coronation Drive headquarters to occupy "a significant portion" of the new building on completion early in 2009.
Leighton Properties managing director Vyril Vella confirmed yesterday that contracts for the site purchase had been exchanged.
The vendor, Australian Hearing Aids, occupies space on the site and will move to a new facility elsewhere.
Leighton Properties director and Queensland manager Andrew Borger said the "highly visible" corner was on the main route out of the city, close to public transport and to the north-south bypass tunnel.
"The size of the site offers us flexibility in planning and allows us to stage the construction," Mr Borger said.
It was also in the heart of Fortitude Valley's new lifestyle precinct, close to the Anthony John Group's $225 million Emporium mixed-use development and to the James Street dining and entertainment zone.
Leighton Contractors northern region manager Darren Weir said the project would allow his company to consolidate its offices under one roof in "a vibrant growth corridor".
"Attracting and retaining staff is a key challenge for the construction industry and I am confident this location will be a place where people want to work," he said.
Mr Weir said the new venture would build on the successful partnership between the two Leighton arms that created the award-winning Green Square project nearby.
The new development meant Leighton Properties would have 115,000sqm of office space in the Brisbane market, with Green Square, Wickham Street and the CBD office tower at 400 George Street, a joint venture with Grosvenor Australia, now planned or under construction.
Meanwhile, near the Wickham Street site, the Valley Police Station is also scheduled for redevelopment soon.
