12-06-2013, 10:50 PM
Consortiums jostle for $2.6bn prize
BY:SARAH DANCKERT From: The Australian June 13, 2013 12:00AM
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Work proceeds on the $2.6bn Elizabeth Quay site, one of the city's biggest infrastructure developments. Picture: Daniel Wilkins Source: Supplied
THE Far East Consortium is among the groups vying for the residential and hotel component of the $2.6 billion development of Elizabeth Quay in Perth.
The WA government has reduced the list of around 12 bidding consortiums to just three.
The cull leaves a shortlist that includes a consortium led by Brookfield/Frasers Property Group, another led by Leighton in partnership with Sheraton and a third spearheaded by Hong Kong company Far East Consortium with Ritz Carlton believed to be involved in its tender. Far East Consortium, which has a Melbourne office, is also behind the mega apartment project Upper West Side in the Melbourne CBD, which has more than 2000 apartments. Sources said FEC made its tender through a separate business entity.
FEC did not respond to a request for comment.
The proposals are being tightly guarded by the three consortiums and the state government, with one party referring to the confidentiality agreements as being "encyclopedic".
But the proposals are thought to include a hotel large enough to hold more than 200 rooms with a similarly sized residential tower next door. Fast-growing Perth is well known for its dearth of hotel options, with room rates often cited at up to $500 a night.
Other consortiums previously reported as vying for the contract, including groups led by Lend Lease, Perth-based builder Pindan, and architects Cox Howlett and Bailey Woodland, have not made the shortlist.
Elizabeth Quay is a sprawling development on the Perth waterfront that will also include offices, though the rollout of that part of the development might be slowed after key prospective tenant Chevron signed a 10-year lease at nearby QV1 building.
In a separate segment of the Elizabeth Quay development, Leighton Contractors and Broad Constructions have already won the contract to build roads, an island and a bridge as well as a 2.7ha inlet that will connect the Perth CBD with Swan River.
Last week, it was reported that Brookfield had snared Corrs Chambers Westgarth and Deloitte as major tenants to the developer's Brookfield Place project in Perth. Late last year, Leighton secured Shell Australia as an anchor tenant on its $190m Kings Square project, also in Perth.
BY:SARAH DANCKERT From: The Australian June 13, 2013 12:00AM
Increase Text Size
Decrease Text Size
Work proceeds on the $2.6bn Elizabeth Quay site, one of the city's biggest infrastructure developments. Picture: Daniel Wilkins Source: Supplied
THE Far East Consortium is among the groups vying for the residential and hotel component of the $2.6 billion development of Elizabeth Quay in Perth.
The WA government has reduced the list of around 12 bidding consortiums to just three.
The cull leaves a shortlist that includes a consortium led by Brookfield/Frasers Property Group, another led by Leighton in partnership with Sheraton and a third spearheaded by Hong Kong company Far East Consortium with Ritz Carlton believed to be involved in its tender. Far East Consortium, which has a Melbourne office, is also behind the mega apartment project Upper West Side in the Melbourne CBD, which has more than 2000 apartments. Sources said FEC made its tender through a separate business entity.
FEC did not respond to a request for comment.
The proposals are being tightly guarded by the three consortiums and the state government, with one party referring to the confidentiality agreements as being "encyclopedic".
But the proposals are thought to include a hotel large enough to hold more than 200 rooms with a similarly sized residential tower next door. Fast-growing Perth is well known for its dearth of hotel options, with room rates often cited at up to $500 a night.
Other consortiums previously reported as vying for the contract, including groups led by Lend Lease, Perth-based builder Pindan, and architects Cox Howlett and Bailey Woodland, have not made the shortlist.
Elizabeth Quay is a sprawling development on the Perth waterfront that will also include offices, though the rollout of that part of the development might be slowed after key prospective tenant Chevron signed a 10-year lease at nearby QV1 building.
In a separate segment of the Elizabeth Quay development, Leighton Contractors and Broad Constructions have already won the contract to build roads, an island and a bridge as well as a 2.7ha inlet that will connect the Perth CBD with Swan River.
Last week, it was reported that Brookfield had snared Corrs Chambers Westgarth and Deloitte as major tenants to the developer's Brookfield Place project in Perth. Late last year, Leighton secured Shell Australia as an anchor tenant on its $190m Kings Square project, also in Perth.
