50% Mirvac, 50% M&G Real Estate
|Valuation at 30-JUN-20||$90.6m|
|Expected Development Value On Completion||$851m|
Valuation: Book value represents Mirvac ownership.
Expected Development Value On Completion: Represents 100% of expected development end value, based on cap rate sold-down.
With all demolition and civil works complete Mirvac took over as principle contractor in August last year and tower building works have commenced with the structure now up to level 3. Suncorp AFL obligations and milestones continue to be met. Practical completion is due on the first half of FY22. An additional 3 floors (~4,700 square metres) lease has been signed recently to a co-working operator which takes the building to 80% pre-leased
80 ANN STREET BRISBANE, QLD