This article is from the Australian Property Journal archive
THE Queensland government is seeking tenders to redevelop the old Brisbane Supreme and District Court site on George St, into a mixed-use commercial, entertainment and hotel precinct.
Premier Anna Bligh said the government would offer the building to the market for uses such as a luxury hotel site, office accommodation and retail and also seek expressions of interest for a privately owned and operated theatre as part of the complex.
The Premier said tenders would go to market in the New Year.
“The site is in a prime position and we would expect to see considerable interest from the market to build a new five star hotel for Brisbane.
“We will attach to the tender a proposal for a new inner city performance space that can be owned and run privately like so many theatres in Melbourne. The exact form that would take will depend on the market interest but this is an incredibly exciting prospect for Brisbane,” she added.
Occupying an entire city block and with a gross floor area of 34,488 sqm, the Brisbane Supreme and District Court site is the 13th largest single lot land parcel within the Brisbane CBD. Only six privately owned lots and six government lots exceed it in land area.
Bligh said the site is very significant in terms of its size, exposure, redevelopment potential and proximity to the Brisbane River.
The precinct was vacated when the Brisbane Supreme Law Courts moved to a new $600 million, 64,000 sqm on the Queensland Place site which is bounded by George, Roma and Turbot Streets.
Bligh said a portion of the proceeds of the sale would go towards the state government’s one third contribution towards the new $154 million Cairns Cultural Precinct.
“The site on George St is a prime location and I would expect that its sale will more than cover the state’s contribution,” she concluded.
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