Harry Triguboff secures ‘best site in Brisbane’
Harry Triguboff has snapped up Brisbane’s spectacularly located The Gardens complex with plans for two build to sell residential towers – one which will contain serviced apartments.
The nonagenarian is paying the owners of 108 owners strata units within the 44 year old, 17 level complex at 204 Alice Street a total of over $130 million.
Overlooking Brisbane Botanic Gardens, also with Brisbane River views, the proposed towers could each rise more than 80 storeys – a significant reuse of the 5485 square metre holding.
The end value could also exceed $1 billion.
Buildings five times taller
The Alice St project would be Mr Triguboff’s first in Brisbane in a decade; in Queensland, the executive’s Meriton has in recent years focused on the Gold Coast.
“I’ve waited a long time to get the [204 Alice St] deal over the line but it’s been worth it – I now own the best site in Brisbane,” he told The Australian, which is reporting the deal (story continues below).
“Where else could you buy such a parcel of land with unimpeded views over the Botanic Gardens and across the river?” he added.
The deal comes eight months since a developer acquired a waterfront time share complex on the Gold Coast held by 51 parties, for $45m.
In Melbourne meanwhile, Oreana Property snapped up a prime South Yarra office and retail complex from 11 strata owners, in a deal negotiated by Emmetts’ Charles Emmett.
Mane Property Group brokered the 204 Alice St deal.
More to come.
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