Brisbane’s ‘ugly sisters’ makeover set to transform CBD precinct

THE Brisbane CBD’s “ugly sisters” are in new hands and set for a major makeover, providing the catalyst for a transformation of the city’s mid-town precinct.

CATALYST: Plans for the redevelopment of the Health and Forestry House buildings herald a mid-town revival for Brisbane’s CBD.

THE Brisbane CBD’s “ugly sisters” — the Health and Forestry House buildings — are set for a major makeover providing the catalyst for a transformation of the city’s mid-town precinct.

Plans for the redevelopment of the two towers fronting Mary and Charlotte streets are expected to breathe new life into a forgotten cross-block hub in the CBD.

A development application is being tweaked for possible lodgement early next week by wealth manager AsheMorgan and partner DMANN Corporation, who this week finalised their $66 million acquisition of the two towers.

Until then, the details of the Midtown Centre redevelopment are being kept strictly under wraps.

But with the project coming off the back of the success of the partnership’s Fortitude Valley revitalisation of the historic TC Beirne and Burlington buildings into a thriving tech start-up hub, it is likely to bring a similar workplace evolution to the CBD.

DMANN Corporation director David Mann said the project would not only “transform the ugly sisters” into more than 42,000sq m of A-grade office space but also reconnect the mid-town hub to surrounding precincts via a ground floor retail component.

He said the redevelopment, if approved, was deliverable by 2019.

“Midtown Centre will embrace an opportunity to connect, evolve and activate a workplace and destination that embodies what Brisbane is and what it is becoming,” Mr Mann said.

“These buildings have been occupied by the state government for 34 years with no real upgrades done to them at all.

“It’s time they were refurbished, repurposed and re-leased back to the market as an agile, well-connected and integrated workplace environment that links directly to adjacent precincts.”

The mid-town precinct is currently the tightest office market within the CBD with a prime vacancy of 2.3 per cent.

The towers at 147-163 Charlotte St and 146-160 Mary St were purchased vacant possession in an off-market transaction negotiated by JLL’s Seb Turnbull and Luke Billiau.

They were offloaded by Cromwell Property Group, which purchased the buildings in 2013 for $65 million with plans to convert them into student accommodation.

Built in 1984 and 1987, each of the towers has four levels of car parking (with a combined 276 bays), ground floor and 17 levels of office accommodation with floor plates of 776-779sq m totalling a net lettable area of 26,650sq m. They are linked by ‘air bridges’ on three upper floors.