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Report: Charter Hall circles A$110M tower in Brisbane, Australia

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Report: Charter Hall circles A$110M tower in Brisbane, Australia

Charter Hall Group is close to securing a roughly A$110 million deal for the office tower at 143 Turbot St. in Brisbane, Australia, The Australian Financial Review's Street Talk reported.

The listed developer's pursuit of the property is supported by an A$800 million mandate from Singaporean wealth fund GIC Pvt. Ltd., according to Street Talk.

The March 27 column, which focused on the changing office property market in the Australian city, also reported on Mirvac Group's search for a capital partner, which will take up a 50% stake in the development that it is planning at Brisbane's 80 Ann St.

According to the report, the proposed 75,000-square-meter tower will be 32 stories tall and is expected to be worth close to A$800 million upon completion. The project, earlier flagged as a "city within a building," is among the developments shortlisted to be the new headquarters of financial services provider Suncorp Group Ltd.