One of Brisbane's most sought after CBD sites has been earmarked for one of the City's largest multi-use projects by rising development group Austcorp.
The former Bloomberg owned site, with Mary and Margaret Street frontages, was originally earmarked for yet another residential tower, however, Austcorp’s ambitious plans for the major CBD were revealed earlier this week.
Austcorp, which recently paid around $24 million for the 5500 sqm site, is planning a $400 million office tower with a major ground floor retail component as well as several hundred highrise apartments.
The growing development group has been extremely active in the boutique end of the development market in recent years; however, its proposal for the Margaret Street site is by far its most ambitious.
Austcorp are the developers of the highly successful $35 million North Shore Business Centre in Sydney; the 376 ha Coomera Waters Village and Resort in Queensland, and the 300 plus lot Rolling Meadows residential subdivision in Sunbury, the group’s only Victorian development.
