Approved The westin Brisbane|68 floors|240m|2012

SoulTrilogy · #1 Posted **Sep 12, 2008, 12:45 AM**

This tower will start construction in Mid september 2009. It shoudl be finished by by late 2012. Rising 240m high above brisbane's skyline the tower will be brisbane 3-4 tallest once completed yet other skyscrapers will still overtake it in the near future to the brisbane boom.

MyFavco · #2 Posted **Nov 9, 2008, 2:45 AM**

This project has been cancelled. Some of the facts around the demise of this beautiful tower:

they never at any time did they have finance in place. The article suggests that they did and that it was withdrawn.
they did not have that many pre-sales - only 20 or so. The 80% sold figure is reference to Expressions of Interest prior to official release (normally many of these are from tyre kickers).
The Residential Unit pre-sales alone would have never secured them finance. They also needed the office sale.
They had very poor interest in their commercial component. They where only 2 parties that even considered it. It is a very poor office product compared to the others in the 'planned' projects.
Westin was not the purchaser of the Hotel, only the Manager. The hotel component was unsold and would have been retainined by the Developer.
They almost had a construction contract in place with Hutchinson Builders, and this a part of the puzzle was sorted.
The Site has unoffically been on the market for about a month now. Meriton very nearly bought the site but lost out to APG.

Austin55 · #3 Posted **Jan 31, 2009, 7:49 AM**

Ah Hell that sucks bigtime.

Australiasian · #4 Posted **Jan 31, 2009, 11:02 AM**

better cancel now than having the tower half finished midway - i think everybody's feeling the credit crunch!?

Austin55 · #5 Posted **Feb 1, 2009, 9:10 AM**

Oh for sure.

MyFavco · #6 Posted **Jul 17, 2009, 1:41 PM**

Well, since the last post APG progressed their design to this:

but now it seems that APG have pulled out. The site now remains as it always way. Alas.

Quote:

Originally posted by MyFavco

APG have been shaky on this purchase since the collapse of the office market late last year. Typical of APG to walk, it's not the first time.

Metcap obviously wanted the sale desperately - they went to the point of suing APG for not completing the sale.

Metcap is out of funds. IMO, any suggestion that they are going to re-start the project is a smoke screen. They are re-leasing the shops..... so no development will be occuring soon. Choppard suggests a new sheme will be released in 2011.