Metro plans 23-level tower in Brisbane
Brisbane-based developer Metro Property Development hopes to start work next month on a 253-apartment tower at Brisbane’s Kangaroo Point.
A development application has been lodged for the building to be known as Riverview Towers, according to executive chairman David Devine. The 23-storey apartment building is to be built on the corner of Lambert and Cairns streets, complete with rooftop sky terrace.
Currently 976 apartments are under construction in Brisbane led by the Infinity Tower in the CBD being deveoped by Harry Triguboff’s Meriton with 546 apartments over 81 levels.
Mr Devine said Metro sold more than 600 apartments in the past year. “90% of our sales are to investors. The price is very important because they have to get a return that meets their repayments.”
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