Commercial

Hamilton Harbour ready to set sail

Courier Mail - Friday 25 August 2006

PLANS to redevelop the acquired former Butter Board site at Hamilton will now push ahead following the acquisition of land next door. Devine has paid $3.3 million for the 2069sq m parcel of land, which will be used to help form part of its Hamilton Harbour mixed-use development.

The latest buy brings the total site area to 17,555sq m.

In a statement to the stock exchange David Devine said now that it had the extra parcel of land, which is currently occupied by the Seafarers Mission, the residential apartments in the Hamilton Harbour development could be positioned closer to the river.

The land was previously owned by the Corporation of the Synod of the Diocese of Brisbane as trustees for the Mission of Seafarers.

Matthew Curtain of Curtain O’Donnell Property Group negotiated the deal. The combined purchase price of the Seafarers and Butter Board sites equates to $1300/sq m. Devine paid $19.5 million for the Butter Board site earlier this year.

At the time national manager commercial Jim Watson said they were negotiating with adjoining land owners so that the
planned development could reach its full potential.

Hamilton Harbour will be Devine’s first major mixed-use project in Brisbane.

Michelle Hele

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