Leighton Holdings has announced it has entered a 50/50 joint venture with global alternative asset management firm, the Carlyle Group, to acquire the 3,752 square metre Mosaic site from the Brisbane Housing Company.

 

Located in Brisbane’s Fortitude Valley, the $150 million site will feature an 18-storey residential tower, comprising 212 apartments, over than 3,500 square metres of retail and commercial space and a proposed 48-room boutique hotel.

 

Mark Gray, Managing Director of Leighton Properties, said the market has responded strongly to Mosaic’s mixed-use offering.

 

“The majority of residential apartments and commercial space at Mosaic have already been pre-sold,” Mr Gray said.

 

“Leighton Properties has had a significant role in the revitalisation of Fortitude Valley and Mosaic will be our fifth tower development in the area over the past five years – now representing a total investment of more than  $750 million.”