38 Morehead Street, South Townsville
Builder: Watts Constructions
Local builders Watts Constructions erected yet another tower crane on the $25 million Abode unit development site in South Townsville which, at last count, makes for an unprecedented 12 cranes on the skyline – a number which will probably increase even further when other major CBD commercial developments such as the $200 million Flinders Plaza project.
Watts Constructions is building Abode, designed by Townsville firm MacCallum and Partners, for a partnership led by Sydney-based property fund manager Marq Capital and its development arm the Silverhall group.
The six-level project will provide 50 apartments priced around $500,000 each, set around a pool and amenities.
Silverhall CEO Cameron Anderson said they had been introduced to Townsville through a partnership with local company although they had been looking to invest in the city for years.
"There's a lot of good reasons why you would look at Townsville," he said, pointing to fundamentals of strong employment and population growth and major infrastructure development.
"It's the fundamentals of Townsville which attracted us," he said.
The tower crane, a 316 Leibherr capable of lifting 12 tonnes at 28m along its 40m boom, will be used to move in place the project's pre-cast panels being cast at the Abby plant in Townsville.
However Townsville was being shielded to some extent through developments in areas such as defence and transport.
"The Commonwealth is spending a lot of money on infrastructure projects in Townsville and that translates into lots of jobs and good times ahead."
He said the cranes on the skyline reflected planning on projects which had been going on behind the scenes for as much as five years.
The number of cranes was unprecedented, he said.
"You'd have to acknowledge it's a sign of a buoyant regional economy," he said.
"There's a lot of optimism.
"It's not only just one developer or a few local developers, they are coming from far and wide, from Brisbane, Melbourne, Cairns ... Australia-wide."