This article is from the Australian Property Journal archive
BRISBANE based private developer, Stockwell is seeking approval from the World Trade Centre Association to build an $800 million World Trade Centre in Queensland.
Brisbane’s World Trade Centre currently operates from the offices of Commerce Queensland, Queensland’s Chamber of Commerce and Industry at 375 Wickham Terrace.
Yesterday, QLD Premier Peter Beattie gave Stockwell the Queensland government’s support.
Beattie joined the Stockwell’s managing director Mark Stockwell for high level talks aimed at securing WTCA approval for the venture.
The Premier, who is leading a trade mission to the United States, joined Stockwell to meet with WTCA president Guy Tozzoli and executive vice-president Robert DiChiara.
“In October 2006, Stockwell signed an agreement with Commerce Queensland to take over the rights to establish a World Trade Centre in Brisbane.
“For the formal transfer between Commerce Queensland and Stockwell to take place, approval must be granted from the WTCA Board of Directors,” Beattie said.
“Commerce Queensland had held the rights to establish a World Trade Centre for several years before signing over to Stockwell.
“Now that Stockwell has come on board, the project is rapidly gaining momentum. Negotiations are already underway between Stockwell and the Brisbane Airport Corporation about building at the international terminal,” he added.
Beattie said it was an exciting venture that would generate more business for QLD and lift the state’s profile internationally.
“It is an excellent concept and has the government’s strong support,” he added.
If successful, the WTC in Brisbane will be Stockwell’s largest project to be undertaken.
Stockwell’s largest project to date, the $150 million retail and commercial Noosa Civic development completed its first stage in 2005.
And last year, Stockwell secured a 999-year leasehold over the land at 199 Grey Street, South Bank in Brisbane from the South Bank Corporation
Stockwell has proposed a $65 million commercial office tower for the site.
Australian Property Journal
