Cen­tral in­jects life

Kens­ing­ton Tower gets the coun­cil green light

Townsville Bulletin - - Investor - by Martin Rasini martin. rasini@ townsville­bul­letin. com. au

HON­EY­COMBES Prop­erty Group ap­pears poised to add a nine-level tower to Townsville’s fore­most in­ner-city re­ju­ve­na­tion pro­ject, the mul­ti­stage $ 400 mil­lion Cen­tral.

The tower, Kens­ing­ton, was ap­proved by Townsville City Coun­cil’s plan­ning and eco­nomic de­vel­op­ment com­mit­tee yes­ter­day, an in­di­ca­tion it will likely garner strong sup­port when it comes be­fore full coun­cil for fi­nal ap­proval.

The $ 17 mil­lion Kens­ing­ton will oc­cupy a 1859sq m site in front of Hol­born fac­ing Flin­ders St and will have 44 one­and two-bed­room units above ground-level park­ing. Ameni­ties will in­clude a pool, gym­na­sium and other re­cre­ation fa­cil­i­ties which will share the first level with ter­race apart­ments.

It is the fourth build­ing to be de­vel­oped on the 6.5ha Cen­tral site on Flin­ders St West, which abuts Ross Creek and for­merly housed Queens­land Rail fa­cil­i­ties.

Honey combes prin­ci­pal Peter Hon­ey­combe has said he ex­pects to launch the tower to the mar­ket within weeks and for con­struc­tion to start mid-year.

The coun­cil com­mit­tee de­ci­sion comes just weeks af­ter set­tle­ment of pur­chases in­Cen­tral’s sec­ond stage , Hol­born, a $ 44 mil­lion part­five-level, part-nine - level build­ing with 78 apart­ments and recre­ational fa­cil­i­ties

MAR­KET LEADER: Peter Hon­ey­combe and Lachlan Bell look over the Flin­ders Cen­tral site above ground level com­mer­cial and re­tail space.

Al­most all apart­ments have sold in Hol­born , which oc­cu­pies a 6375sq m site over­look­ing Ross Creek.

Cen­tral’s $ 50 mil­lion first stage com­prises one nine- level and two four-level build­ings shar­ing 95 apart­ments, and a three-storey re­tail and of­fice build­ing fronting Flin­ders St with 3600sq m of floorspace that was sold to Syd­ney-based Valad. Deputy Mayor David Crisa­fulli said af­ter the com­mit­tee meet­ing the Kens­ing­ton pro­ject ex­cited him to the core.

‘‘ It is fan­tas­tic that, in a mar­ket where de­vel­op­ers across Aus­tralia are strug­gling to sell apart­ments, a Townsville-based de­vel­oper has a prod­uct so right it is rac­ing out the door,’’ he said.

‘ ‘ Kens­ingt o n wil l bring more peo­ple to the cen­tral busi­ness district and has the po­ten­tial to recharge the ex­ist­ing recre­ational venues on Flin­ders St West help­ing to transform the area.’’

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