Future Proposal» Eagle St Pier: [T1-278m] [T2-249m] (mixed use) [Stockland]

[SoulVision]

Project Rundown

Status| Proposed

Location| Eagle St Pier

Developer| Stockland

Height| 2x70F/270m

Price tag| $1.1 billon estimate

Completion Date| 2012

Project Site| Coming soon...

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[Proposed Designs]


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$300m plan for riverfront site
Fiona Cameron, AFR 5 October 2006

STOCKLAND has begun planning a $300 million mixed-use tower development for its Eagle Street Pier site in Brisbane's CBD.

The company intends lodging an initial proposal with Brisbane City Council by mid-next year, but has not decided if its plan will have one or two towers on the 4206sqm site.

Managing director Matthew Quinn said Eagle Street Pier was "one of the most high-profile sites in Brisbane".

"We have to get it right," he said. "The legacy of that development will go on for 50 to 100 years."

Stockland's national general manager of the apartments development division, Hugh Martin, said the plan was likely to include a combination of commercial, retail, residential and hotel space.

Restaurant and retail tenants were in place in the existing pier until the end of 2008, so construction work would start after that.

Stockland had begun working with architects on site plans.

"We are aiming to have everything completed (planning) by mid-07," Mr Martin said.

No decision had been made yet on whether to build a larger number of apartments or a smaller "boutique" residential segment in the project, he said.

Mr Quinn said the Brisbane office market would be a factor in the final make up of the project.

"The office market is certainly showing a lot of strength and a very real structural imbalance between supply and demand, and office space in that location on the river in the `golden triangle' would be certainly at a premium," he said. "We need to structure that into the equation."

A Stockland spokeswoman said yesterday that Eagle Street would be one of the company's biggest mixed-use projects.

"We are focussed on delivering a world-class development," she said.

Stockland bought 50 per cent of Waterfront Place in February 2004, with Westpac buying the other half at the same time in a deal that valued the building at $291 million.

Westpac subsequently sold its share into Stockland's first unlisted property fund offered to retail investors, the Stockland Direct Office Trust No1, which has the 59,000sqm building as its sole asset. Stockland bought the Eagle Street Pier site in its own right in February 2004 for $16 million. After strong rental growth in Waterfront Place -- where the top face rents have risen from around $500 a square metre to $600/sqm in the past year -- the property is now valued at $356 million.

Tenants in the office tower -- which has the largest floorplates in the Brisbane CBD -- include Minter Ellison; Corrs; Phillips Fox; and Ernst & Young.

Last month, Stockland announced a 39 per cent jump in annual net profit to $1.06 billion.

The company's development division increased its earnings by 30 per cent to $239 million.

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Big plans for Eagle Street Pier
6 October 2006, The Courier-Mail

THE fate of Brisbane's famous Eagle Street Pier is becoming clearer with Stockland's plans for a $300 million redevelopment of the waterfront site moving a step closer.

Stockland's national general manager of the apartments development division, Hugh Martin, said planning was still in its early stages, but the development was likely to include a mixture of residential, retail and commercial space.

Mr Martin said the company hoped to submit a development application with Brisbane City Council mid next year, with plans to start construction in early 2009.

"The site is probably the best in Brisbane and we need to think about a development which is world class and befitting of Brisbane as a city," Mr Martin said.

He said several concepts for the development were being explored, but it would most likely be something completely different from its current form.

Mr Martin said the leases of tenants in Eagle Street Pier were due to expire at the end of 2008, so the timing of the redevelopment had to fit in with them.

He said the company would look at options to incorporate existing tenants in the new development.

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Courier Mail:

"Speaking of the Eagle Street Pier area, aka the Bermuda Triangle, we hear whispers that the demolition of the precinct is less than two years away.
Word is that an architect's plan for two 70-storey tall towers is being wheeled around tenants at the Pier by Stocklands, the owners."

[bluebreak]

Is it an unlimited height zone? Stockland should be aspiring to go higher if thats the case - 140 floor tower... which is a bit ambitious, but I'd rather a 90/100 up against a 40/50 next to one another.

[SoulVision]

yeah same and 150 sounds good to me... no height limit due to the river being next to it.

[KJBrissy]

I'm just hoping for an Australian tallest on this site!

[bluebreak]

Australian tallest, so were aiming at 323m plus here?

Using cul's building measurement guide where we can calculate the approxiamte height range of what we can expect from a single storey tower (140f)

2.7m floors (minimum height) - 378m
3.3m floors (average height) - 462m
4.0m floors (maximum height) - 560m

If we say 2x 70 storey twins we can expect....

2.7m floors - 189m
3.3m floors - 231m
4.0m floors - 280m

Or if they designed two towers of varying floor numbers we can expect...

from a 30f small, 110f large
2.7m floors - 81m / 297m
3.3m floors - 99m / 363m
4.0m floors - 120m / 440m

from a 40f small, 100f large
2.7m floors - 108m / 270m
3.3m floors - 132m / 330m
4.0m floors - 160m / 400m

from a 50f small, 90f large
2.7m floors - 135m / 243m
3.3m floors - 165m / 297m
4.0m floors - 200m / 360m

from a 60f small, 80 large
2.7m floors - 162m / 216m
3.3m floors - 198m / 264m
4.0m floors - 240m / 320m

I got bored.... lol but hopefully this will give some bright indications of what we can expect. from each of the scenarios, i would prefer 3.3m/4.0m floors on the 2x70 or 3.3m floors on the 50/90 or 4.0m floors on the 60/80.