Central Equity Wastes no Time Proposing New Southbank Tower

HIGH rise apartment developer Central Equity hasn’t wasted any time proposing a new skyscraper for a site it recently acquired in Southbank.

The developer is planning a 43-storey, 513-unit complex for the 141 -1 55 City Road site, which it purchased from Crown Casino for about $13 million late last year.

A second building is also expected to be developed on the 2,527 square metre site, formerly the casino’s training college.

Under Central Equity’s plan, historic buildings currently on the site will be demolished.

Central Equity also recently purchased a site at 620 Lonsdale Street – on the former Age site – and is reportedly considering demolishing another historic building, in order to build major apartment complexes.

Central Equity has strong marketing channels into South-East Asia, the AFR reports.

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