19/09/2014 - 15:30

Brookfield preferred for Elizabeth Quay sites

19/09/2014 - 15:30

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Brookfield Multiplex has been given the inside run on two development sites at Elizabeth Quay, after the Metropolitan Redevelopment Authority selected the building giant from a large field of developers for exclusive negotiations over the sites.

Elizabeth Quay.

Brookfield Multiplex has been given the inside run on two development sites at Elizabeth Quay, after the Metropolitan Redevelopment Authority selected the building giant from a large field of developers for exclusive negotiations over the sites. 

The MRA announced today that Brookfield had won the right over the other shortlisted developer, Mirvac Group, to negotiate the right to buy lots 5 and 6 at the Riverfront project.

Sites 5 and 6 are approximately 3,600sqm each and form the northern edge of the inlet. 

The sites are zoned mixed use, which would allow for residential, commercial and retail developments. 

MRA chief executive Kieran Kinsella said the expressions of interest campaign launched last year garnered significant international interest.

“The MRA appreciates the substantial work invested by Brookfield, Mirvac and all developers who expressed an interest in developing lots 5 and 6,” Mr Kinsella said.

“We are now looking forward to continuing our negotiations with Brookfield and to securing not only the best outcome for Elizabeth Quay, but also the best financial return for the state.”

A preferred developer will be named by the end of the year.  

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