U/C [Excavation]» Soleil Tower: (75F/243m) [Meriton]

[KJBrissy]

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Project Rundown

Status| Under Construction [Excavation Phase]

Location| 501 Adelaide St

Developer| Meriton

Architect| DBI

Height| 75F/243m

Price tag| Unknown

Completion Date| Unknown

Project Site| Click Here

DA Code| A001927196

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Originally Posted by SoulVision

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WOW Here is another one on the old Intecap site at the corner of Adelaide and Boundary Street opposite Al Hallows in Petrie Bight.

Originally Posted by CULWULLA

BIG NEWS GUYS,lucky bastards/
story in todays fin rev about how the 400th richest guy in the world (Harry Trigubof) is to build a 70storey resi tower in Brisbane.
He has already bought the site!
everyones probably going , oh no, its going to look crap, but i have complete confidence in his developments. especially post 2000 when he brought architect Bob Nation on board who was involved with -Eureka and of course Sydney's greatest -World Tower.
Its all good. I think it should reach 200m-230m high. The article mentions its location and how he wants to beat Aurora in height.
He said he has tested the market in Sydney and Gold Coast and feels Brisbane is next!
I wish he wanted to build another in Sydney.

Return of the king
G.C. Bulletin
16May07

HARRY Triguboff, Australia's most prolific developer of high-rise apartments, is preparing to move into the Brisbane market with a bang by building a 70-level tower.

Mr Triguboff's Meriton group has amalgamated a site in the Brisbane central business district on which it plans a slimline apartment building.

The tower will have ground floor shops, a commercial podium, serviced apartments in the first 30 levels, and a mixture of one, two and three-bedroom apartments on the rest of the levels.

The project, which is subject to development approvals, will surpass the 67 floors in the Aurora tower, completed last year by Amalgamated Properties.

In height terms, its 250m elevation will match that of a 70-level tower planned by the APH consortium at 480 Queen Street.

The move into Brisbane represents the opening of a third development front by Mr Triguboff, who has been building in Sydney for more than 45 years.

He travelled to Brisbane in 1981 to explore property opportunities, decided the city was 'a backwater', and then went down the road to start developing projects on the Gold Coast.

He has built a dozen high rises in Australia's tourism capital and is part way through a $1 billion redevelopment of the former Sundale shopping centre site in the heart of Southport.

Mr Triguboff said yesterday that Brisbane had evolved into a vibrant city since his visit there 26 years ago.

"The market seems very buoyant and the city council appears to welcome development," he said.

Mr Triguboff said the Brisbane buy does not necessarily signal a major move into that market.

"We are in some ways testing the water with this project," he said.

"Brisbane has a lot of catching up to do in the residential high-rise field compared with Surfers Paradise."

Mr Triguboff said an influencing factor in his Brisbane move has been signs of an improvement in the Sydney market.

"When Sydney prices go up people sell and move to southeast Queensland.

"I want to be part of the welcoming party for them in Brisbane," said Mr Triguboff.

Meriton's Brisbane site is on the corner of Adelaide and Boundary streets and consists of five titles spanning 1500 square metres.

The price being paid for the holding, which is home to commercial-retail buildings, has not been disclosed.

The site settlement is due to take place in November.

Mr Triguboff, 74, was born in China and arrived in Australia when he was 14.

He has built thousands of high-rise apartments since embarking on a development career in Sydney in the early 1960s.

America's Forbes magazine in March rated him the 407th richest person in the world with a fortune of $US2.3 billion ($2.77 billion).

[bluebreak]

Crikey, not another one!
Well, way to go Brisbane!

[KJBrissy]

Meriton plans 70 storeys in Brisbane
Turi Condon, Property editor
May 16, 2007

THE country's biggest apartment developer, Meriton, is expanding out of the still-soft Sydney market with plans for its first Brisbane project, a 70-storey home unit and serviced apartment tower.
The company, owned by billionaire developer Harry Triguboff, has bought a 1500sqm CBD fringe site on the corner of Adelaide and Boundary Streets.

Brisbane would represent a "third development front", according to the company, which has been prolific in Sydney and the Gold Coast.

While Mr Triguboff said the Brisbane project did not necessarily signal a major move into that market, Meriton general manager Peter Spira acknowledged that once the group had carefully watched a market and committed to one project, it usually expanded into that city.

Mr Triguboff, 74, said that while he had been developing for 45 years, he had first visited Brisbane only in 1981, decided it was "a backwater", and went to the Gold Coast instead.

It had since evolved into a vibrant city, he said.

"We are testing the water with this project.

"Brisbane has a lot of catching up to do in the residential high-rise field compared to Surfers Paradise," Mr Triguboff said.

On the Gold Coast, Meriton is building 300 units at Broadbeach and about 1200 at Southport, of which about 40 per cent of the project - Brighton on Broadwater on the old Sundale shopping centre site - is complete.

The new Brisbane project, which is subject to development approvals, will be made up of ground floor shops, a commercial podium level, around 200 serviced apartments on the first 30 levels and another 200 apartments on the upper floors. At 250m, it will be taller than the 67-floor Aurora tower completed last year and in line with the 70-storey tower planned by the APH consortium at 480 Queen St.

Mr Spira said the average price for a two-bedroom apartment would be around $550,000 in a project likely to be completed in 2010.

Meriton, which has mostly concentrated on Sydney, is building about 1200 apartments a year, but expected to provide about 1500 apartments by next year as the market improved, Mr Spira said.

"Rents are increasing at a fast pace: about 15-20 per cent growth in the last 12 months," he said.

Late last year, when rising interest rates kept investors out of the market, Mr Triguboff said the building program was "nowhere near the 1500 to 2000 (apartments) we used to build a year".

Sahba Abedian, managing director of Gold Coast-based developer Sunland Group, said Mr Triguboff had done extremely well out of the Gold Coast, but that his move to Brisbane was an indication of how tough the Sydney residential market was.

"It's a really sick economy right now," Mr Abedian said of NSW. "Most developers are looking to diversify (out of the state), he said.

One of Queensland's wealthiest developers, Kevin Seymour, said the competition would benefit consumers.

He said Mr Triguboff built a product at the economy end of the scale, which was not normally available in the Brisbane CBD.

And on Mr Triguboff's lack of Brisbane exposure: "He is a pretty wily, experienced operator. He will do this very well," Mr Seymour said.

[SoulVision]

O my holy god!!! Another one!! This is getting crazy!

[KJBrissy]

Took your time Soul