Leighton signs off on Brisbane CBD tower

The tower will be built by Thiess for stable mate Leighton Properties, which said the 27-storey, 28,000 square metre King George Central A-grade office tower at 145 Ann Street, Brisbane, was already more than 65% pre-leased.Leighton Properties managing director Mark Gray said the announcement was an outstanding result for the vendor and the buyer. “King George Central will be the first major new commercial CBD development to commence construction in Australia since the onset of the global financial crisis,” he said. “It’s not only the first since the crisis, it’s the first of its kind with its occupant health features.“It suggests there is a renewed level of confidence in the Australian property market and means that A-grade office accommodation will be available when the economy begins to grow strongly.”Gray said bank funding restrictions had put many other commercial projects on hold.“Unless developments can commence soon, in two to three years time there will again be a shortage of high-quality office accommodation in Australia’s CBDs,” he said.“Our development is also targeting world-class levels of sustainability practices, a key attraction to many tenants.”The project is scheduled for completion in 2012.

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