Luxe $400m Brisbane apartment tower nine years in the making finally complete

A long-delayed Brisbane apartment tower that sparked one of Australia’s biggest construction company collapses is finally finished — nine years after it was first launched.

The completed 443 Queen St. Picture: John Gass

A long-delayed Brisbane apartment tower that sparked one of Australia’s biggest construction company collapses is finally finished — nine years after it was first launched.

The first residents will soon begin moving in to the luxe $400 million, 264-unit tower at 443 Queen Street, which rises 47 storeys and has been dubbed “paradise in the air” for its sky gardens on every level and world-class green credentials.

The project was launched in June 2014, with construction started in 2017 and completion scheduled for 2020, but technical problems, Covid-19 restrictions, and scheduling setbacks plagued the riverfront CBD development up until the collapse of its builder, Probuild Group, last year.

Hutchinson Builders took over the final stages of construction of Brisbane’s first truly subtropical tower and are now adding the finishing touches to the Cbus Property development.

It is the first Queensland apartment project for Cbus, which also developed the $650 million ‘Tower of Power’ office building at 1 William Street, but it will soon start demolition works at a site in Wharf Street to make way for its second residential development.

The tower’s pool. Picture, John Gass

Cbus Property chief executive Adrian Pozzo could not wipe the smile of his face during a private tour of the building last week.

“I think it’s incredible,” Mr Pozzo said. “It’s special, having gone through all the problems and builder issues, just to see the finished product. No stone has been left unturned with respect to quality.”

The high-end building is a mix of one, two, three, and four-bedroom apartments, with the majority of buyers owner-occupiers downsizing from the suburbs.

After the five-and-a-half-year sunset clause expired, the majority of purchasers proceeded with their contracts, with 59 choosing not to proceed. A limited number of residences remain for sale.

Cbus CEO Adrian Pozzo. Picture: John Gass

Mr Pozzo said he was “not in a hurry” to sell the remainder because he was confident they would be snapped up quickly now the finished product could be inspected.

He did not want to comment on the overall losses for the project.

Mr Pozzo said Cbus was now looking for more sites across Brisbane and the southeast corner to expand its residential and commercial portfolio in Queensland.

“Every sector is in play,” Mr Pozzo said. “We believe the lack of housing is unfortunate right through the eastern seaboard, and if immigration keeps going the way it’s going, we need more housing.”

One of the apartments. Picture: John Gass

Mr Pozzo said the built-to-sell sector needed state government support in order for developers to provide more affordable housing solutions — not just the build-to-rent sector.

“We’re happy to do an affordable aspect as long as there’s compensation,” he said.

Singapore-based design practice WOHA modelled the project on the Park Royal Hotel in Singapore and designed it so that every apartment would have river views.

With sustainability a key focus, the building was awarded Australia’s first 6 Star Green Star by the Green Building Council of Australia.

Light wells throughout the building project natural brightness and ventilation, and significantly reduce energy consumption.

Inside the tower. Picture: John Gass

The tower includes a 1500 sqm recreation deck that would be one of the biggest in Brisbane, and offers stunning views of the river, Story Bridge and Kangaroo Point.

A 25m, infinity-edge lap pool overlooks the water, with breakaway cabanas, yoga lawns, and a gym.

One of the original purchasers in the building, Anne Patmore, said she and her husband, David, were relieved to see the project finally reach completion.

The couple moved to Brisbane from Adelaide in 2020 thinking they would be moving in, but ended up renting for three years next door in Admiralty Towers.

“It allowed us to observe what was happening every day,” Mrs Patmore said. “We were very lucky that Cbus stuck with it and didn’t walk away.

“Nobody likes treading water, and we were treading water for three years, which puts a tremendous lot of strain on everything.”

The tower is finally finished. Picture: John Gass

Mrs Patmore said she and her husband considered pulling out of their purchase and buying elsewhere, but are glad they didn’t now they had seen the finished product.

“It’s absolutely amazing,” she said. “They say some things are worth waiting for and 443 certainly was. To know we’ll be moved in before Christmas brings us absolute joy.”

The project was approved by Brisbane City Council in 2015 just days before Christmas and without public consultation, sparking outrage among critics at the time, including the Queensland Heritage Council because of its proximity to the heritage-listed Customs House.

The anger was so intense that the University of Queensland, which owns Customs House, launched legal action to stop the project.

But the court sided with Cbus in mid-2016 and UQ, which had initially sought to appeal the decision, abandoned the fight after reaching a deal with the company.

Under the terms of the settlement, Cbus agreed to alter the building profile to preserve views, build a smaller car park and prune a nearby fig tree to a minimum.

The building industry has been hit by a perfect storm of labour shortages and material price rises that has resulted in the demise of several builders including Probuild, Condev, Privium Homes and Pivotal Homes.