Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Wednesday, 15 June 2016

Towering concerno

Buy shares in cement!

Brisbane's tallest apartment tower is under construction at 222 Margaret, the street being mostly blocked off yesterday with cement mixers.

The main tower will be 270 square metres tall when completed, which is just about as high as the current building height restrictions rules allow, give or take 4 metres.

Brisbane's City Council has previously held discussions with the city's international airport in order to propose a relaxation of the rules.

Earlier plans for Vision Brisbane had, erm, envisioned one monster building incorporating retail and residential space, but current plans instead allow for a hotel to be constructed separately. 

At a massive 90 storeys, the tallest residential tower in the city will eventually include more than 1,100 apartments.

There are a number of other developments underway in the Central Business District and its immediate surrounds too.

Brisbane has seen a record number of unit, apartment, and townhouse approvals in the past 12 months, and the city business district is one of the oversupply hotspots.