This article is from the Australian Property Journal archive
DEVINE has built and sold the $75 million ICB Central building within 14 months of acquiring a vacant site.
Devine acquired the 4,900 sqm development site in June 2007 for $11 million as its first Brisbane near-city commercial development. The project was pre-sold to the Mirvac Domaine SEQ Growth Fund in mid 2007 on a “fund-through basis” with practical completion by Devine
Constructions achieved in August.
The Queensland Government has committed to the entire four-level building comprising 11,260 sqm of A grade space.
The transaction was negotiated by Tim Mahony and David Prosser of DTZ and Don Mackenzie and Tom Barr of Jones Lang LaSalle.
Australian Property Journal