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Charter Hall, Investa plan 40-story tower in Brisbane, Australia

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Charter Hall, Investa plan 40-story tower in Brisbane, Australia

Charter Hall Group and Investa plan to develop a A$650 million, 40-story office tower on the site of Clive Palmer's Mineralogy House in Brisbane, Australia, The Australian Financial Review reported.

The 370 Queen St. project in Brisbane's Golden Triangle is a result of the partners' roughly A$53.8 million acquisitions of three buildings in June 2017. The site was also on a shortlist for insurer Suncorp Group's new headquarters.

The tower will have 50,000 square meters of office space, multiple sky parks, a rooftop recreation deck, childcare facilities and a gym, among other things.

DEXUS is also planning two towers in a A$1.4 billion plan to transform the Eagle Street Pier precinct in Brisbane, while Ashe Morgan and DMANN Corp. won approval for their A$500 million plan to combine two Brisbane buildings into an office tower, the March 28 report noted.