$325m luxury tower to lead CBD revival

A $325 million inner city tower with a five-star hotel, executive residences and a vibrant mix of restaurants and bars will be the catalyst in creating a stylish precinct in the evolving new world city of Brisbane.Developer Mary 111 Pty Ltd, associated with local businessman Sam Chong, has launched the 38 level mixed-use project, to be known as Mary Lane.Set to rise at 111 Mary Street, the building will comprise 184 luxury apartments and 286 hotel rooms with separate facilities for residents and guests.The fusion of apartments, hotel and high-end retail is a concept popular in bustling cities around the world but new to the Australian market, says development manager Ian Pert, of GMP Management.Mr Pert said Mary Lane took its cues from landmark projects such as the Park Royal in Singapore and St. Regis in San Francisco and would deliver a new style of executive accommodation to Brisbane’s inner city.“Mary Lane will be a lifestyle precinct and destination of its own which will activate the Mary Street frontage and draw people in,” he said.“The cross link between Mary and Margaret streets provides an opportunity to incorporate laneway retail with an eclectic selection of chic cafes, restaurants and bars.“This part of the project is a nod to Melbourne’s famed laneways and high energy precincts in Europe and the United States.“Brisbane’s CBD tends to go quiet on weekends, so a large part of this project is the revival of the city as a sought after destination for both work and leisure.”Woods Bagot has designed the project which is being marketed in an expressions of interest campaign by Colliers International.Colliers International director residential Andrew Roubicek said Mary Lane would be the only project to launch in Brisbane’s CBD in the second half of 2015.Mr Roubicek said Mary Lane’s unique lifestyle offering would draw interest both locally and from afar.“We are anticipating high demand from young professionals and working empty nesters who want to position themselves in the heart of the city,” he said.“Apartment residents will have exclusive use of the rooftop and its facilities as well access to world-class restaurants and bars at their doorstep.”Residents will have exclusive use of the level 37 recreation deck with a pool, gymnasium, BBQ and function area.Mary Lane will comprise a mix of one-, two- and three- bedroom residences as well as four penthouses.Apartments are priced from $460,00 to more than $2 million.The five-star international hotel will have four podium levels with a large resort style pool with swim up bar, gymnasium, day spa, function space, lobby bar and restaurant.Brisbane City Council issued DA approval for the tower in late September 2015 and the developer plans to start construction in early 2016.An agreement with an international hotel operator is being finalised.Mr Chong holds significant interests in the resource and property sectors and also owns the neighbouring Four Points by Sheraton hotel at 99 Mary Street.