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| ISPT and Multiplex to redevelop Brisbane CBD landmarks Leading international property fund and investment manager, Industry Superannuation Property Trust (ISPT), in partnership with Multiplex Developments, is planning an $800 million redevelopment of three landmark Brisbane CBD assets – the historic Regent Theatre, the Wintergarden Shopping Centre and the Hilton Hotel. The significant development opportunity has been made possible following ISPT's acquisition of the Regent Theatre in December 2007, which it was able to do after securing the rights to the site from Multiplex Developments. Acquired for its $6.3 billion ISPT Core Fund and inclusion as part of the redevelopment of the Fund's Wintergarden Shopping Centre, the 2,240 square metre Regent Theatre site is located at 167 Queen Street and is bounded by ISPT's Hilton Hotel, Queen Street Mall and Elizabeth Street. ISPT, in conjunction with Multiplex Developments, proposes to construct a new A grade office tower of approximately 55,000 square metres over 38 levels at the rear of the Regent Theatre site and above the Wintergarden Shopping Centre. The proposed development will incorporate the heritage listed Grand Foyer of the Regent Theatre in the design. While ISPT will own the site, Multiplex Developments will provide development management services to the project on a fee and profit share basis. write your comments about the article :: © 2008 Construction News :: home page |