$1bn mixed-use development in Brisbane seeks joint venture partners

PDS Australia – the development manager for a planned $1 billion mixed-use development known as the Queen’s Tower – is seeking joint venture partners to build and develop the future Brisbane landmark.

The Queen’s Tower - designed by international design and consulting firm, Woods Bagot - will rise at 545 Queens Street. The development will feature a 76-storey skyscraper with 891 luxury residential units and 100 serviced apartments. Queen’s Tower will also have 2,500 square metres of podium-level retail and commercial space.

Artist impression of Queen's Tower (source: The Australian and The Courier Mail)

The project was recently approved by the Brisbane City Council and according to PDS Australia’s Executive Chairman Sameh Ibrahim, the entire team at PDS is excited to have received the Development Approval for this project.

“Queen’s Tower is a highly significant project for Brisbane, with the team looking for partners that have a track record in high quality construction on developments of this size and scale,” Mr Ibrahim said.

Mr Ibrahim also said that discussions have already taken place between Double Gold Stone – the Chinese-owned consortium that owns the development site – and tier-one as well as listed Australian builders and developers.

Construction is expected to begin in 2019 when the current building leases expire and the skyscraper is expected to be completed by 2022.

“Construction will commence once existing site leases have expired in 2018-19, and in the meantime office space within the existing building is available,” Mr Ibrahim said.

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Source: The Australian Business Review and The Courier Mail