The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Interested in a Corporate TUD+ Membership? Access premium content, site tours, event discounts and networking opportunities
Interested in a Corporate Membership? Access exclusive member benefits today
Enquire NowEnquire
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
OtherAna NarvaezTue 13 Feb 18

Mirvac Ditches Student Accommodation for Ann St Office Tower

TUD+ MEMBER CONTENT
550a51d8-79f6-4c80-817c-3de44755b9a6
SHARE
32
print
Print

Diversified property group Mirvac has lodged an application for the development of a commercial office tower in Brisbane's Ann Street, moving away from the current proposal for a 36-storey student accommodation tower.

The application was submitted to the Brisbane City Council this week by Mirvac, who acquired the 5,482sq m site from Singaporean developer Wee Hur Holdings in December 2017.

Wee Hur entered into a put and call option to sell the Ann Street site to Mirvac for $65 million. The agreement was contingent on approval from Wee Hur's shareholders and Mirvac securing a major tenant for the office tower.

The Ann Street site forms part of a larger acquisition made by Wee Hur in 2015 which also included a smaller lot at 71-97 Turbot Street that the developer intends to retain.

Related reading: 5 Minutes with Mirvac CEO Susan Lloyd-Hurwitz

The proposal includes the development of a 31-storey office tower with ground level retail and service space.


In December, Mirvac agreed to purchase both sites for $79 million. Wee Hur’s board said the sale of both sites was "in the best interest of the group" with the proceeds to be used to finance other projects in Australia.

Designed by Woods Bagot, the proposal includes the development of a 31-storey office tower with ground level retail and service space, comprising approximately 72,540sq m of gross floor area and office floor plates of greater than 1,500sq m NLA.

Related reading: Brisbane Developer Ditches Residential Tower for Office Scheme


The proposal comes at the same time banking and insurance giant Suncorp is looking to consolidate its office space in Brisbane, which consists of 38,000sq m over three sites.

In what could become Queensland’s biggest leasing deal Suncorp is understood to be strongly considering three options including this proposal from Mirvac at Ann Street, ISPT’s proposed 40-storey Regent development on Elizabeth Street and the Shayher Group’s 300 George Street office tower in its Brisbane Quarter development.

The 62-80 Ann Street site currently houses an eight-story commercial office building, the Department of Primary Industries building, leased to the Queensland government.

Related reading: 30-Storey Mixed-Use Tower in Brisbane Proposed to Replace Suncorp

Singapore-listed Wee Hur previously lodged an application proposing 918 student rooms.


The Singapore-listed Wee Hur previously lodged an application proposing 918 student rooms for the 71-97 Turbot Street and 62-80 Ann Street site with centre activities at ground level.

The 36-storey tower was to include studios and “cluster units” set around balconies and landscaped terraces.

Wee Hur is currently building Brisbane's Buranda UniLodge Park Central, comprising 1578 student rooms and 12 office tenancies. The company is also looking at developing student accommodation in Adelaide and Melbourne.

OtherRetailResidentialOfficeAustraliaMelbourneBrisbaneAdelaideOther
AUTHOR
Ana Narvaez
The Urban Developer - Editorial Director
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Brains, Balls and Determination: How Salvo Property Has Shaped Melbourne’s Skyline

Marisa Wikramanayake
5 Min
Fraser and Partners founder Callum Fraser
Exclusive

Saving Our CBDs: Architect’s Blueprint Paves Way for Office-to-Resi that Works

Leon Della Bosca
8 Min
Exclusive

Watchdog’s Court Loss Throws Spotlight on Union Balancing Act

Clare Burnett
6 Min
Time and Place's The Queensbridge Building at 90 Queens Bridge Street in Melbourne's Southbank.
Exclusive

Innovation Keeps Time & Place’s Southbank Skyscraper Rising

Marisa Wikramanayake
6 Min
Breathe Architecture founder Jeremy McLeod in front of his Featherweight Home design
Exclusive

Nightingale Founder’s Bid for Affordable Architectural Kit Homes

Leon Della Bosca
7 Min
View All >
West End Stockwell Vulture Street DA hero
Development

Stockwell Files Tower Plans in West End Stomping Ground

Phil Bartsch
Exclusive

Brains, Balls and Determination: How Salvo Property Has Shaped Melbourne’s Skyline

Marisa Wikramanayake
PBSA DA Hindmarsh Square student accomodation tower
Student Housing

Student-Friendly Adelaide Draws 35-Storey PBSA Proposal

Renee McKeown
The lowest charges for student digs in the country have helped lure the 488-bed proposal to the city’s East End...
LATEST
West End Stockwell Vulture Street DA hero
Development

Stockwell Files Tower Plans in West End Stomping Ground

Phil Bartsch
3 Min
Exclusive

Brains, Balls and Determination: How Salvo Property Has Shaped Melbourne’s Skyline

Marisa Wikramanayake
5 Min
PBSA DA Hindmarsh Square student accomodation tower
Student Housing

Student-Friendly Adelaide Draws 35-Storey PBSA Proposal

Renee McKeown
3 Min
Woolworths Fabcot West Footscray EDM
Retail

Fabcot’s ‘Underdeveloped’ Footscray Scheme Greenlit

Clare Burnett
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/mirvac-ditches-student-accommodation-for-ann-st-office-tower