ARA Reveals Design of Brisbane Office Tower
BRISBANE – Singapore-based ARA Asset Management has just recently lodged a development application for a 22-storey office tower that it plans to build within the central business district (CBD) of Brisbane in Australia, reported The Urban Developer on Thursday (1 October).
Its development application shows a commercial building – designed by Fender Katsalidis – whose lower levels are enclosed by a brown terracotta exoskeleton to pay homage to the architectural style of past buildings along Edward Street.
Located at the CBD’s Midtown precinct in the corner site of 133 Mary Street, which cuts across Edward Street, the site is presently occupied by a 16-storey Grade-B office building and a 2-storey retail structure. But the shorter edifice will be torn down to make way for the new building.
The office tower will have a proposed net lettable area (NLA) of 12,226 sqm and a proposed gross floor area (GFA) of 13,882 sqm, with floor plates measuring 631 sqm on average. It will also come with 93 car parks.
Previously, property investment firm ARA acquired the 2,900 sqm site in March 2019 along with the two buildings collectively spanning 140,000 sq ft (approx. 13,000 sqm) for A$96.5 million
Architectural firm Fender Katsalidis said the layout and the size of the office component is in line with contemporary boutique offices that incorporate design elements that take into account the changing nature of the workplace.
The unveiling comes after the Brisbane City Council launched the Edward Street Vision in 2019, which aims to create a pedestrian-friendly shopping boulevard by trimming motorist streets to three lanes to make way for wider footpaths.
Edward Street Vision is estimated to cost A$11.4 million and will be implemented over three years. It’s the fruit of a large-scale consultation regarding the city centre master plan that contains feedback and suggestions from industry experts, local businesses, and property owners.
Moreover, 133 Mary Street is just a stone’s throw from Brisbane’s A$190 million Kangaroo Point pedestrian bridge, which is expected to open by 2023. It’s also just a stroll from the A$2.1 billion redevelopment of Eagle Street Pier and Waterfront Place being carried by real estate giant Dexus.
Near the top of Edward Street, Destination Brisbane Consortium is pushing ahead with its A$3.6 billion Queen’s Wharf project.
Farther away in Brisbane’s fast-growing North Quarter precinct, Cbus Property and Nielson Properties have teamed up to submit plans for a 37-storey Grade-A office tower costing A$600 million.