This article is from the Australian Property Journal archive
SHAYHER Group has expanded its Brisbane footprint, acquiring a 1.5-hectare riverfront site from the Investa Commercial Property Fund for $98 million.
Part of Taiwanese apartment developer Par Jar Group, Shayher purchased the property, known as Kings Row and overlooking Coronation Drive, with redevelopment approval for two residential buildings comprising 293 apartments.
The site has a 180-metre frontage to the Brisbane River and currently features two office buildings, and adds to its portfolio of three other waterfront sites in the city.
Shayher also launched its $1 billion-plus Brisbane Quarter project at 300 George Street in June, with developer Brookfield Multiplex beginning construction nearly a year ago.
The mixed-use development covers an entire city block and will include a 40-storey prime-grade office tower with 1,400sqm floorplates, an 82-storey residential building and a W Hotel.
Shayher also owns Brisbane residential developments in Indooroopilly and Hamilton, and purchased the Capalaba Central sub-regional shopping centre from Dexus last year for $148.5 million.
Australian Property Journal
