Taiwanese-backed developer Shayher makes Quay play for major site
Developer Shayher has swooped on yet another project in the Queensland capital as it builds up its pipeline ahead of the 2032 Olympics.
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Taiwanese-backed developer Shayher is betting on Brisbane’s property market, picking up a major development site from Charter Hall and a Canadian backer.
The private developer has quietly stepped up to acquire 309 North Quay for $46m, according to title searches, and is looking to draw up a scheme that will add to its pipeline in the city.
Shayher has a wide range of projects in Brisbane, including plans for a $300m, four-tower “urban village” on the riverfront 1.5ha Kings Row office park in Milton.
Shayher founder John Lin is already making a mark on the skyline with projects such as the Barracks urban renewal project in Bulimba, the W Hotel, a $250m commercial hub next to Capalaba Central shopping Centre, a luxury housing estate at the old CSIRO site in Long Pocket and the Brisbane Quarter precinct.
The sale was negotiated by JLL’s Seb Turnbull off-market. He declined to comment, as did the parties.
In early 2021, Charter Hall and Canada-based real estate investor QuadReal bought the riverfront development site and flagged the potential for a major office project.
But rising costs and still uncertain demand tempered its large-scale plans.
The group is still pressing ahead with a tower at 360 Queen St, alongside Investa, where it has strong precommitments.
The 6400sq m parcel of land overlooks the Brisbane River and is in the North Quarter precinct, offering the potential for a major scheme.
Charter Hall had lodged development applications for a single 50,000sq m commercial tower and a separate application for two smaller office towers of 23,000sq m and 36,000sq m. It had planned to develop a major single tower, but lodged a separate DA for the two tower schemes at the same time, to provide flexibility.
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Originally published as Taiwanese-backed developer Shayher makes Quay play for major site
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