495-501 Adelaide Street, Brisbane CBD, Queensland
Another profitable project from the Reid property group.
2002 to 2007
Commercial Consolidation and Refurbishment. A consolidation of three old warehouses which had been converted into commercial offices. Originally 501 Adelaide Street was purchased in 2002 by our group in association with joint venture partners. This was an old 4 Storey Commercial CBD Building, largely tenanted.
We obtained a Development Approval for a 35 Storey Student Accommodation tower. Subsequently the same group purchased 499 Adelaide Street, and later 495 Adelaide Street. Plans were drawn for both the refurbishment of the existing buildings, and for the complete re-development of the site with a commercial/residential tower. At the peak of the commercial cycle the project was sold in 2007 to the Meriton group for high-rise development.