French Quarter Site

Property group Devine Limited has appointed Ray White Transact agents Rick Bird and Brad Hanson for the sale of the internationally renowned ‘French Quarter’ site, located on the corner of Margaret and Albert streets, in the Brisbane CBD.

The 4,061sqm French Quarter site was amalgamated by Devine for a planned residential, hotel and retail development, and is configured as two individual parcels of 1,994sqm (Camelot) and 2,067sqm (Carrington).

The property group’s vision includes two cutting edge residential towers, a five star hotel and a Parisian themed retail precinct.

Ray White Transact Principal, Rick Bird, said the value added component of advanced development planning would provide an acquirer with a significant head start in delivering the project to market.

“The site demands a landmark project and Devine has adopted this attitude throughout the extensive planning process,” he said.

“It is now time for somebody else to move the project forward.”

Mr Bird said the site was being marketed internationally and he expected a competitive bidding process, with interest being shown already from South East Asia investors.

The project’s position will also be a significant selling point.

“The area has long been recognised as Brisbane’s best apartment address, being in the immediate vicinity of the Botanical Gardens, Parliament House, the Queensland Club, Quay West, the Queensland University of Technology and The Grosvenor,” Mr Bird said.

The sale is being undertaken by an offers-to-purchase campaign which closes on 12 November, 2009.

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