Singapore developer acquires Brisbane site

Singapore based Wee Hur Holdings Ltd has purchased Anthony John Group’s 1.7ha transit-oriented Buranda site in Brisbane for $51.3million.

The deal marks Wee Hur’s first foray into property development in Australia and plans a high-rise mixed use development comprising residential, retail and office on the site.

Anthony John Group CEO Shane Bulloch said Buranda’s strategic location, at the heart of major transport arterials, combined with Brisbane’s population and economic growth potential, drove strong interest from local and offshore investors.

In April 2014, German property giant Union Investment Real Estate purchased Flight Centre’s new global headquarters at Southpoint for $200 million from Anthony John Group.

“We are very proud to have shone an international spotlight on Brisbane and introduce two such significant investors. It is not only a testament to the attractiveness of Brisbane in the global real estate market, but to the strength of our vision for both projects. These transactions allow Anthony John Group to maintain its acute focus on delivering exquisite properties to our customers, which continues to be our major point of difference in the Brisbane market.”

CBRE’s Flint Davidson and Mike Walsh assisted Anthony John Group with the Buranda sale.

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