This article is from the Australian Property Journal archive
SYDNEY developer Metacap Developments has unveiled plans for a $500 million office, hotel and residential apartment tower in Brisbane's CBD.
The Empire Square development will be developed on a 2,000 sqm CBD site fronting Elizabeth Street. The 65-level building will comprise 98 residential apartments, six penthouses and 306 luxury hotel suites. The exclusive two and three bedroom residences are priced from $1.3 million.
The development’s commercial component comprises a total 23,500 sqm of A-grade office space and will occupy 23 levels of the building.
Metacap Developments’ director Jerome Chopard said it is been years since a project of this quality has been developed in Brisbane’s CBD.
Metacap Developments purchased the site in April 2005 and the mixed-use development was given the go ahead from Brisbane City Council in December 2006.
“We’re proud to deliver the very first high-rise development in Australia which combines luxury branded residences with an international hotel and premium office space.
“The Empire Square residences represent a highly desirable opportunity for the discerning few. The demand for fully serviced apartment buildings is on the rise, people are attracted to the diversity of the superior facilities and services that are available 24-hours seven days a week and it’s all right at their fingertips,” he added.
Colliers International Brisbane has been appointed to market the Empire Square residences.
Colliers International’s associate director of residential project marketing Ben Langfield said on completion Empire Square will transform hotel apartment living in Brisbane.
“The development is located on a rare high profile CBD site, situated right in the heart of the city.
“With a project of this calibre we’re expecting both national and international interest and with only 104 deluxe apartments available we’d anticipate that they’ll be extremely well received by buyers,” Langfield said.
Metacap is the development vehicle of Newell Palmer Securities, which is a Sydney-based financial advisory firm established in 1984, and Alex Jimenez, a Brisbane based property developer.
Australian Property Journal
