Mirvac shortlisted for new Suncorp Tower

Mirvac shortlisted for new Suncorp Tower

2 March 2018

Mirvac Group is the first developer to present plans for a new Suncorp tower at 80 Ann Street in Brisbane’s CBD, proposing a “city within a building”, says The Australian.

Three developers remain in contention to provide up to 40,000 square metres of inner-city office space for the bank in what is thought to be the biggest leasing deal in Brisbane in a decade.

After whittling an initial 23 submissions down to a short-list of five, Suncorp is now considering the Mirvac proposal, Investa/Charter Hall’s 370 Queen St and ISPT’s plans for former cinema site The Regent in the Queen Street Mall.

Two previous contenders, Lendlease and the Morris Property Group, have withdrawn from the contest.

Mirvac purchased the 5,482 square metre site from Singaporean developer Wee Hur Holdings for $79 million in December 2017. Wee Hur had previously lodged an application to develop a 36-storey student accommodation tower on the site.

Eyeing what the lucrative Suncorp leasing deal, Mirvac last week proposed to build a 32-storey building spanning a whole city block and connecting Turbot and Ann Streets via new cross block linkages.

The building would incorporate three-storey atriums and interconnecting floors, breathing floors and a function facility. In a nod to the heritage of the site that once housed the Brisbane Fruit Market, a retail offering on the ground floor would include a Market Place and Market Laneway.

Described as being “designed from the inside out”, the development application says the project has the potential to be an urban catalyst for the northwest quadrant of the city.

The Ann Street site formerly housed the Brisbane Fruit Market, which dated back to 1906 and was once declared Australia’s ‘cleanest’ fruit market, with 15,000 cases of fruit being sold per week.

The proposal seeks to pay tribute to the heritage of the site by creating ‘Market Place’ which would become a new heritage-inspired retail market featuring freestanding market pods located within the heritage structure.

The application provides flexibility for the upper ground level to become a health and wellness centre or possibly an innovation hub for smaller start-up businesses.

Suncorp staff are currently spread over 38,000 square meters at three sites across Brisbane’s CBD.

The leases expire in the next four years, prompting the search for a single building.

A Suncorp spokesman says a selection from the three-shortlisted sites is expected to be made by mid-year.

Mirvac’s application is conditional on Suncorp taking up the property and would require the demolition of the eight-storey Primary Industries building on the site.