Development Overview
Development of high quality Australian retail, office and industrial real estate provides the ability to access, enhance and expand assets for GPT and our wholesale funds. Consistent with a commitment to create sustainable investments, GPT is committed to the development of assets incorporating a focus on environmental and social, as well as economic, outcomes.
Current Developments
Charlestown Square, NSW
A $470 million refurbishment and expansion of Charlestown Square (NSW) which will add approximately 43,000 sqm to one of Australia’s most productive shopping centres, was commenced in 2008 and is anticipated to be complete in 2010.
Melbourne Central, Melbourne
Work is set to commence on a $30 million development which will see the introduction of a unique food precinct and a new ontrend fashion offer featuring iconic international and Australian brands. With construction works beginning in September 2010, the project is programmed for completion late 2011.
One One One Eagle Street, Brisbane
One One One Eagle Street, Brisbane is a new 54-level commercial office tower located in Eagle Street in the Brisbane CBD, targeting a 6 Star Green Star rating. The development commenced in 2008 and is due at the end of 2011. GPT has a one third interest in the development, having sold a one third interest in the asset to GWOF and another capital partner.
161 Castlereagh Street, Sydney
161 Castlereagh Street in Sydney is a new Premium-Grade office tower featuring 54,000 sqm of accommodation over 43 floors. Combined with unrivalled views and a landmark design, the asset will provide new and dynamic public spaces complete with 2,800 sqm of premium ground level retail, extensive transport, parking and wide range of amenities in a prominent Sydney CBD location.
7 Parkview, Sydney Olympic Park
7 Parkview Drive forms part of the Sydney Olympic Park commercial precinct and is located in close proximity to the Olympic Park Rail Station. In June 2010, GPT announced that it will commence stage 1 of 3 stages, delivering 12,200 sqm of A-Grade office space.
Future Development Opportunities
A significant pipeline of planned developments exist across GPT's three portfolios in the retail, office and industrial/business park sectors. These opportunities are subject to the Group’s investment criteria which include both short-term earnings and long-term return hurdles.
Recently Completed Developments
GPT has a proven track record in developing high quality real estate. Click below for fact sheets on the Group's recently completed developments.
workplace6 Online Case Study
Rouse Hill Town Centre Online Case Study
Connect @ Erskine Park Case Study (PDF - 2MB)
Quad 4 Online Case Study
Quad Business Park Case Study (PDF - 2MB)