WATPAC WINS SOUTHPOINT CONTRACT

Watpac Limited (ASX: WTP) has been awarded a $114 million contract to build Anthony John Group’s new Southpoint commercial tower in South Bank, Brisbane.

The heritage-listed Collins Place will become the centrepiece of the project, linking the new ground-floor retail esplanade to the adjacent Southbank railway station, which will also undergo a major upgrade including new station facilities, a ticket office and sheltered passenger waiting areas.

Located on the corner of Grey and Vulture Streets, the 21-level transit-oriented development has a gross floor area of 48,000sqm comprising 24,000sqm (NLA) of A-grade commercial office space, 3,000sqm of ground floor retail and dining, a gymnasium and basement parking.

WTP CEO Martin Monro (pictured) says the landmark mixed-use tower project will provide a vibrant retail and commercial link between Southbank railway station and Grey Street.

“The master planned development further bolsters South Bank’s status as Brisbane’s foremost cultural and leisure precinct, offering a dynamic mix of office, retail and dining, while preserving and celebrating an important heritage listed icon,” says Monro.

“It will also set a new benchmark for successful, sustainable transit-oriented developments in Brisbane and deliver improved access and amenities for commuters at Southbank railway station. We are thrilled to be working with Anthony John Group on such a significant project.

“Watpac’s capacity to undertake projects of this size and calibre is backed by a strong balance sheet, available capital, and three decades of leadership in the national construction sector, and we continue to competitively pursue opportunities to further grow our workbook.”

In November 2013 Flight Centre announced it would be relocating its global headquarters to Southpoint, signing a 10-year lease agreement for more than 20,000sqm of A-grade commercial space.

State Manager for Watpac Construction in Queensland, Mark Spry says works will commence in April 2014.

“Southpoint will be one of the largest transit oriented developments in Queensland and will draw on our considerable experience in the delivery of major CBD tower projects in Brisbane and across the country,” he says.

“The building will be an exemplar of environmentally responsive design and is targeting a Green Building Council of Australia 5 star Office ‘Design’ and ‘As-built’ v3 rating, and NABERS Base Building Energy rating of 4.5 stars.

“Key features include optimal use of natural light, high indoor air quality, high standards of energy and water conservation, and easy access to public transport including Southbank railway station and the South Eastern Busway.”

Spry says the project will create up to 300 jobs during construction and is scheduled for completion in mid-2016.