Northshore announces Australand as preferred bidder
31 July 2008
AUSTRALAND, in a joint venture with BOS International, has won preferred bidder status for the first land released at Brisbane’s newest riverfront mixed-use precinct, Northshore Hamilton.
Port of Brisbane Corporation’s Chairman David Harrison confirmed today, the Board’s endorsement of the Australand consortium as the preferred bidder, following the two-stage selection process run by the Corporation’s Northshore Development Group.
“We are pleased to announce the Australand consortium as the preferred proponent for the purchase and development of 6.28 hectares of this prime riverfront land, which represents another step by the Corporation towards returning former port land back to the Brisbane community,” Mr Harrison said.
“We believe we have set a benchmark for the development of this riverfront precinct and are proud of the work that has gone in to preparing the initial master plan and the opening of the 2.5 hectare Northshore Riverside Park and Café.”
“The Corporation was extremely pleased with the quality of the Australand consortium’s proposal and its ability to best meet the various selection criteria, including a concept design incorporating a mix of housing styles and densities, significant sustainability initiatives, financial and development capability, and a timetable that will see the site develop over the next few years,” Mr Harrison said.
With the announcement made, Australand Managing Director and CEO Bob Johnston, confirmed that the Australand consortium is keen to progress with the development as soon as possible.
“We are delighted to have achieved preferred bidder status. Our consortium is looking forward to finalising our detailed development application for a landmark development on this prime waterfront site adjoining the Royal Queensland Golf Course, and located so close to the Brisbane CBD, international airport and Moreton Bay,” Mr Johnston said.
Craig Newnham, Director of Joint Ventures for BOS International said: “We are delighted to be able to build on our strong relationship with Australand and look forward to being an integral part of this exciting development opportunity”.
Australand will be required to lodge a development application with the assessment manager for Northshore Hamilton - the Urban Land Development Authority, consistent with the Northshore Hamilton Interim Land Use Plan, by the end of the year. Early works are expected to commence in 2009, with the first pre-sales release of the residences starting in second half 2010.
Australand Queensland General Manager, Mr Nigel Edgar, said his company would work closely with the local community and stakeholders to deliver a quality development.
Australand has the team in place to ensure a terrific outcome for all stakeholders,” Mr dgar said.
Australand is one of Australia’s largest residential developers. In Queensland it is currently ndertaking developments such as Cova, Ambience, the Montego Residences, and the Solito residential precinct at Carindale in Brisbane.
According to Mr Harrison the Corporation had a long history with the former port site, relocating the Hamilton trade progressively since the 1980s by investing significantly in new deep-water port facilities at Fisherman Islands.
“The Corporation has worked hard to relocate port business to Fisherman Islands for the purpose of redevelopment in Hamilton. It is very satisfying to see the next development stage unfold,” he said.
Northshore Development Group
The Northshore Development Group is a division of the Port of Brisbane Corporation and is responsible for infrastructure development and sale of the Corporation’s 64 hectares of former port land within the Northshore Hamilton Urban Development Area.
About Australand:
Australand (www.australand.com.au) is one of Australia’s leading diversified property development groups with offices in Sydney, Melbourne, Adelaide, Perth, Brisbane and Hong Kong. The $4.0 billion company is listed on the Australian and the Singaporean Stock Exchanges.
Australand comprises three core businesses: Residential, Commercial & Industrial and Investment Property. Australand has over 80 years experience in developing masterplanned residential communities across Australia. Australand’s Commercial & Industrial business is one of Australia’s largest industrial developers and has one of the largest industrial landbanks with strategic holdings in key industrial precincts around the country.
About BOSI:
BOS International (Australia) Ltd (BOSI), a subsidiary of HBOS Australia, with offices in Sydney, Melbourne, Brisbane, Auckland & Hong Kong, has been actively providing structured property finance solutions since 1995 within Australasia.
With over A$6bn in recently structured, arranged and underwritten transactions
ranging from A$25 - 500M, including a number of high profile projects, BOSI is a significant finance player with a long-term commitment to the property industry.
