INDUSTRY NEWS
Suncorp to sell Forestry House
FORESTRY House in Mary Street, Brisbane, is for sale by the owner financial and insurance giant Suncorp Group Ltd. Built in 1987, Forestry House has a net annual income of $6.5 million. Forestry House and Health House in Charlotte Street owned by Suncorp are both 100% leased to the state government. The lease on the Mary Street building expires in five years. Industry sources expect the sale of the B-grade towers to realise at least $100 million. Last year, Suncorp sold its head office, Suncorp Tower, at 310 Ann Street for $64 million in line with the group’s strategy of
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SURE
the timber product you are buying has been
Forestry House .. rents for $6.5 million a year.
simplifying its operations and focusing on its core businesses.
Gunns sells another mill in SA
GUNNS Ltd hasreportedly sold a sawmill in South Australia to a Mount Gambier company. It was reported that the buyer, South East Pine sales, would retain the 18 employees. The
price has not been revealed. It is also understood buyers have been looking at the Bell Bay softwood sawmill and the Tarpeena mill also in South Australia.
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Be sure, safe – and satisfied – that the plywood, wood panel or furniture you choose meets Australian and New Zealand standards. All products manufactured by members of the Engineered Wood Products Association of Australasia are guaranteed to comply with these standards and are BELOW formaldehyde levels recommended by health authorities. EWPAA products are certified
EO and E1
A race that goes sky high
From Page 3
Site work on Forte commenced in February. Once complete, it will house 23 boutique residential apartments and four townhouses with prices ranging from $430,000 to $795,000. Lend Lease has beaten the Grollo family in the race to build Australia’s first high-rise timber apartment tower. Forte
under strict JAS-ANZ rules.
rises 242 cm above the world’s tallest similar buildings – Bridport House and Stadthaus in London.
The Grollo family announced plans last year to build a timber high-rise at the old Carlton United Brewers site on Swanston Street. That structure has been shelved until next year.
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www.ewp.asn.au issue 239 | 17.09.12 | Page 11