WATPAC BUILDS PORTFOLIO WITH $126M CONTRACT

Written on the 13 May 2015

WATPAC BUILDS PORTFOLIO WITH $126M CONTRACT

WATPAC Limited (ASX:WTP) has been awarded a $126 million contract to design and construct the York & George tower in Sydney.

Fife Capital appointed the Brisbane-based company to develop the mixed-use project, for its Terra Australis Property Fund.

Watpac will also complete restoration works to neighbouring heritage buildings, Spiden House and Carlton House, to maintain their integrity.

The 39-storey tower is located in the CBD and will front onto both York Street and George Street.

Watpac managing director Martin Monro says the deal is a testament to the company's experience in the luxury residential market.

"Last year Watpac delivered the $600 million award-winning Central Park precinct, including the landmark residential tower, One Central Park, and this project builds on our growing reputation for building luxury residential projects," Monro says.

"We are proud to be involved in another central Sydney project and one that is helping develop the popular George Street precinct of the CBD."

York & George is Watpac's second project in the precinct, with works underway on commercial tower 333 George Street.

Fife Capital CEO Allan Fife says the partnership with Watpac marks an important milestone in the development.

"Watpac brings the skills and experience Fife Capital is looking for to deliver this complex CBD landmark retail and residential project," Fife says.

The tower is scheduled for completion in 2018, and is expected to create up to 600 jobs throughout the duration of the project.


Latest News

GUVERA ESCAPES WIND-UP ORDER

GUVERA has avoided being wound up after a claim for a $1.78 million debt by Kwong Properties was dismissed at the ...

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

WESFARMERS' COAL BUSINESS ON FIRE

WESFARMERS (ASX: WES) has lifted its first-half profit guidance due to surging coal prices and higher than expected c...

SIXTH CONSECUTIVE RECORD PROFIT FOR AP EAGERS

AP EAGERS (ASX: APE) will beat guidance with its sixth-consecutive record profit when it reports its full year result...

Related News

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whe...

SMES TAKE RETAIL MARKET SHARE AS CONSUMERS CHOOSE PERSONALISATION

IN a battle for the hearts and wallets of Australian consumers, it appears that small and medium retail businesses...

KNOWLEDGE WORKERS AMONG MOST SOUGHT AFTER IN 2017

BUSINESSES searching for efficiencies and improved systems are in search of knowledge workers early this year, say...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter