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A Brisbane base for Japanese property giant

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Japanese property giant Daikyo has returned to Queensland with some new ideas in mind.Brisbane Investor, Housing affordability, Home ownership, Property Management, Real Estate Brisbane, Mortgage Broker Brisbane, Brisbane property market, housing sales, Housing market

Daikyo — the one-time of owner of a string of Queensland tourism assets including five-star hotels, an island resort and championship golf courses — has returned almost a decade after exiting the Australian market.

It is expanding internationally again and Brisbane is its first port of call.

The Tokyo-based property giant’s “happy memories” from a heady era of Queensland property development and investment as well as research indicating “more opportunities” has led to it choosing Brisbane over Sydney as the headquarters for its future Australian ventures.

“We’re starting here again — from scratch,” said Daikyo Australia’s newly-appointed managing director Hiroshi Mori.

He said the company’s financial troubles from 2005 that led to it selling up its enviable Australian portfolio, most of which was on the Gold Coast and in Cairns, were water under the bridge.

“Financially, we are back in a very strong position,” he told Prime Site

Although the company’s new international office in Brisbane’s Edward St is still being fitted out, Mr Mori said it was already actively pursuing opportunities in the local market.

“We’re eager to bring our expertise to a joint venture partnership with a local Australian company,” he said.

But he said this time around the company was not rolling the dice on tourism assets but looking to invest in residential property developments — initially in the Brisbane CBD and fringe.

“Longer term, we’ll continue to look broadly at prospects around Australia,” he said.

Mr Mori said compared to Sydney and Melbourne, Daikyo’s research indicated the residential sector in Brisbane offered a “much bigger” window of opportunity to re-enter the Australian market.

He said it planned to build, sell and manage properties that targeted the owner-occupier rather than investment market and hoped to debut its Lions Mansion high-rise apartment brand for the first time outside of Japan.

“If there is an opportunity we would like to brand a building here with Lions Mansion,” he said.

Daikyo is one of Japan’s largest builders of condominiums and over the past 50 years has supplied about 400,000 units across 6800 complexes.

But Mr Mori said diminishing demand due to Japan’s contracting and ageing population also had prompted the company to look beyond the domestic market for new opportunities.

“The Japanese economy is facing a number of challenges stemming both from natural disasters and socio-economic influences,” he said. “So for Daikyo, a place like Queensland where the population is growing at a rate higher than the national average, economic growth is strong, and business conditions are favourable, offers excellent potential.”

 

Original article published at www.news.com.au by Phil Bartsch,  The Courier Mail  21/3/2014

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  1. Suzy Abbonizio

    July 20, 2016 at 11:18 pm

    Interested to learn the current housing market and investment in Brisbane and surrounds.

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Brisbane

Mirvac Continues Office Push with Brisbane’s ‘Healthiest’ Tower

Mirvac Continues Office Push with Brisbane's ‘Healthiest’ Tower

Listed developer Mirvac has broken ground on its $836 million 80 Ann Street Brisbane CBD tower, promoting it as Brisbane’s “healthiest” commercial building.

Mirvac’s continued push into the office sector has now made it Australia’s second-largest office manager, with $15 billion of assets under management.

Mirvac’s pipeline of commercial developments, including 477 Collins Street in Melbourne and Australian Technology Park in Sydney, has an estimated end value of more than $2 billion and is expected to add a further $90 million in recurring net operating income for the diversified developer.

The developer’s latest commercial project, spanning an entire block between Ann and Turbot Streets in Brisbane, will soon be home to financial services giant Suncorp.

At its construction commencement on Wednesday, Mirvac chief executive Susan Lloyd-Hurwitz was joined by Suncorp acting chief executive Steve Johnson and Trevor Evans MP on site to launch the project.

Mirvac Continues Office Push with Brisbane's ‘Healthiest’ Tower 1

Mirvac’s chief executive Susan Lloyd-Hurwitz said her team had worked closely with Suncorp over a number of months, as well as the architects on the project, Woods Bagot.

“This is of course going to be leading workplace for Suncorp and highly flexible in a way that we haven’t seen before in Australia,” Lloyd-Hurwitz said.

“With a focus on incorporating biophilia throughout the design, 80 Ann Street will be surrounded by an urban garden oasis while also providing cutting-edge smart building technology, flexibility and premium amenities.”

The tower will incorporate three-storey atriums and inter­connecting floors, breathing floors featuring gardens and a function facility.

Suncorp’s future Brisbane office building will also boast Brisbane CBD’s largest floor plates when completed and will feature new retail amenities on the ground floor.

“This building will be for the public not just for the customers that make their homes in this building,” Lloyd-Hurwitz said.

In a nod to the heritage of the site that once housed the Brisbane Fruit Market, a 1,098sq m retail offering on the ground floor would include a market place and market laneway.

“We’re going to revitalise the old markets on Turbot Street and create a place for the people of Brisbane to eat, connect and meet.”

Mirvac Continues Office Push with Brisbane's ‘Healthiest’ Tower 2

Suncorp acting chief executive Steve Johnson said the move was an opportunity to consolidate Suncorp’s teams in Brisbane together into one location, creating efficiencies as it has done in Sydney, Auckland and Melbourne.

“Suncorp has been providing Queenslanders with financial services for over 100 years, and the development of our new headquarters demonstrates our ongoing commitment to Queensland.”

“This is a reflection of bringing a number of our premises together in due course into one fantastic facility in the Brisbane CBD.”

Suncorp, currently Queensland’s largest privately listed company with market capitalisation of around $18 billion, will make up about 66 per cent of the premium-grade tower’s total space of 60,000 square metres on a 12-year lease, Brisbane’s largest leasing deal in a decade.

Mirvac also recently secured the Commonwealth Bank for a new building at the Australian Technology Park in Sydney’s Redfern.

“There’s a long way to go yet and we certainly look forward to seeing the development emerge over time which will bring together three CBD operations together for us and makes our operations more efficient,” Johnson said.

The development will provide 6 Star Green Star, 5 Star NABERS Energy and Gold Shell and Core WELL ratings.

Demolition of the eight-storey Primary Industries building has now concluded and construction is now set to move ahead on the tower which is set to be delivered in the first quarter of 2022 as planned.

 

 

Source: theurbandeveloper.com

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Developments

Habitat’s $83m Sunshine Coast Development Greenlit

Habitat's $83m Sunshine Coast Development Greenlit

Queensland developer Habitat has received approval for a $83 million multi-use development targeted at entrepreneurs, which will be part of the Maroochydore’s new tech-centric city centre.

The proposal is for two residential towers comprising 152 units and six Small Office-Home Office (SOHO) townhouses to be built on a 4,158sq m parcel of land in the new $2.1 billion CBD.

Part of a massive 53-hectare swathe of land currently being transformed, the multi-use development will be part of a wider CBD vision with its extensive use of smart technology to create a cleaner, greener, more liveable and dynamic city centre.

Habitat's $83m Sunshine Coast Development Greenlit 1

Maryoochydore’s 20 year plan not only involves construction plans to become a 21st century smart city but will also feature Australia’s fastest data connection to Asia from the East Coast.

The prospect of high-speed internet could be a major draw card for start-up and established technology entities, one that Habitat has identified with its project planning.

“The Sunshine Coast has been called the entrepreneurship capital of Australia because there are more than 35,000 small businesses across the region,” Habitat managing director Cleighton Clark said.

According to the Australian Bureau of Statistics, the Sunshine Coast out-performed Brisbane in the growth of new small businesses in 2018, increasing 2.5 per cent, more than double the growth in Brisbane.

“The SOHOs have clearly hit the mark for this sector, providing a perfect combination of work and home in one property,” Clark said.

“Even before we received approval for the project, we had numerous inquiries from potential buyers about the town homes.”

Each SOHO will have non-residential space downstairs, with street frontage, which can be used for an office, shop, food and drink outlet or other kinds of business use.

Habitat's $83m Sunshine Coast Development Greenlit 2

The 53-hectare site of the new Sunshine Coast’s central business district, formerly Horton Park Golf Club, was purchased by the Sunshine Coast Council for $42 million in 2015.

SunCentral Maroochydore, established by the Sunshine Coast Regional Council, is the company overseeing the design and delivery of the new city centre.

SunCentral chief executive John Knaggs said the project showcased the type of urban design and innovation the new CBD would deliver.

“Habitat recognised early on the Maroochydore city centre will be a place that people will want to live and work,” Knaggs said.

“I expect demand from owner occupiers and investors to be strong, not just for the SOHOs but the residential apartments and the retail space at the base of the towers as well.”

Construction is expected to start on the project in February 2020, after it was signed off by the Economic Development Queensland.

Meanwhile, construction officially commenced at the new city centre site last month, with ground breaking on the precincts first commercial building, the $30 million Foundation Place by local developer Evans Long.

The new CBD will also feature a 167 room hotel by developer Pro-Invest, 100 residential apartments, and 40,500sq m of retail.

 

 

Source: theurbandeveloper.com

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Brisbane

Brisbane’s Narrowest Commercial Tower Approved

Brisbane’s Narrowest Commercial Tower Approved

A development application has been approved for an ultra-skinny mixed use tower located in Brisbane’s CBD.

The 30-storey development, lodged by Sydney-based Lionmar Holdings, will sit atop the heritage-listed Grosvenor Hotel on the corner of George and Ann Streets.

Lionmar, who purchased the site for $4.4 million in November 2010, submitted the development application to council in December 2016.

The office development, located in Brisbane’s legal precinct, will be just nine and a half metres wide and 30 stories tall, making the tower the narrowest building of a comparable height in Brisbane.

The building, designed by Hames Sharley, will feature 9,100sq m of boutique commercial office space, three levels of restaurant space, two apartments and 17 carparks.

The development will also feature a rooftop bar on level 29 with views across the Brisbane River to South Brisbane and through the CBD as well as a 400sq m city room and garden on level 14.

Brisbane’s Narrowest Commercial Tower Approved 1

Hames Sharley principal Jason Preston said the building’s narrowness meant the design needed to be innovative in dealing with the challenges of structural tension, compression and stability.

“At just nine and a half metres wide and 30 stories tall, we believe this would be the narrowest building of a comparable height in Brisbane,” Preston said.

“Given the building’s four lifts are designed as a ‘side core’ to the west boundary wall, a building of this kind will twist and sway differently to a traditional tower, which is usually anchored by a number of central lifts, stair cores and a larger floor plate.”

The building will feature a hybrid ‘exo-skeleton’ bracing system, both as a structural necessity and to visually anchor the building.

Last year, council outlined several concerns about the height and scale of the proposed tower as well as the need for construction details compromising the heritage value of the 140-year-old hotel.

The developer agreed to reduce the tower site coverage from the initially proposed 68.5 per cent to 67.9 per cen and enlisted expert guidance of heritage architect Malcolm Elliot from Vault Heritage Consulting.

Preston said Hames Sharley’s design incorporated the client’s desire for a grand entrance that honoured the heritage status of the existing building.

Construction of the development is expected to start December and once complete the building is expected to earn premium A-grade commercial development status due to its sustainability characteristics, high-end lobby finishes, express lifts and high-performing services.

 

 

Source: theurbandeveloper.com

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