OfficeLindsay SaundersWed 28 Oct 26
Hutchies, Consolidated Lock in $1bn Pipeline Across Three Projects
Consolidated Properties Group and Hutchinson Builders have signed $1 billion in construction contracts across three Brisbane projects, including a new Australian Federal Police headquarters backed by institutional investor Charter Hall.
Signed over a 30-day period, the agreements cover 422 residences across two residential developments and a 10-level commercial building at 949 Ann Street, Fortitude Valley.
The deals again bring together Consolidated Properties Group chairman and chief executive Don O’Rorke and Hutchinson Builders chairman Scott Hutchinson, who grew up together in Brisbane.
Charter Hall paid $32.775 million for three amalgamated blocks at 925-949 Ann Street, where Consolidated Properties Group will deliver the new AFP command centre with Hutchinson Builders under a development management agreement.
The 2335sq m site has approval for a 10-level office building with 11,856sq m of gross floor area, ground-floor retail, two basement levels and a 535sq m public plaza.
The AFP has pre-committed to 10,494sq m of space, including 7112sq m of offices and 3066sq m of specialist and technical accommodation.
The agency plans to consolidate its Brisbane Northern Command operations, currently spread across leased offices in Newstead and Fortitude Valley, into the new headquarters.
The building is expected to accommodate about 576 staff, including an additional 95 officers by 2029, as well as the Australian Centre to Counter Child Exploitation.
The AFP expects to occupy the building by July 2029, ahead of the expiry of its existing leases in 2029 and 2030.
The proposed fitout is estimated to cost $89.3 million excluding GST, funded through a lease incentive from the developer rather than existing AFP departmental funds.
The development has an estimated end value of $85 million to $90 million, based on comparable Fortitude Valley office transactions.
The two residential projects covered by the construction agreements are Consolidated Properties Group’s Castile at Newstead and Gloriette at Yeerongpilly Green.
Castile will deliver 229 apartments in a 25-storey tower and 12 residences in a separate six-storey building at 47 Skyring Terrace, on a riverfront site.
Designed by Woods Bagot, the development has secured 25 pre-sales ahead of its formal launch, with construction activity marked by a sod-turning ceremony on October 27.
Gloriette will add 181 apartments to the Yeerongpilly Green precinct, bringing the combined residential pipeline across the two projects to 422 homes.
The contracts span residential and commercial development, with the AFP headquarters adding a long-term government occupier to the mix.
O’Rorke said the agreements provided greater certainty for buyers, financiers and government, while giving subcontractors confidence in payment.
“Scott and I have known each other for decades. There’s a lot of trust there, backed by a long history of our businesses working together,” O’Rorke said.
Hutchinson said the relationship helped both businesses understand what was required to deliver projects of this scale.
“Don and I understand how each other works, and we know what it takes to deliver projects of this scale,” Hutchinson said.
“Having these contracts signed allows us to plan our teams, engage subcontractors and get on with construction.”
