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QIC lodges plan for $560m next phase of Castle Towers

QIC lodges plan for $560m next phase of Castle Towers

Queensland Investment Corporation (QIC), has lodged a development application for a $560 million project, the next phase of its Castle Towers Shopping Centre precinct, in Castle Hill, Sydney. QIC is the Queensland government’s investment company.

In 1982 Castle Towers first opened, and a further $180 million expansion opened in December of 2019, with further redevelopment and expansion occurring since.

The planned 560 million investment of a mixed-used lifestyle precinct in Castle Hill includes plans for 3 levels of retail that will house more than 70 retail brands, a 200-room hotel designed by renowned architects Woods Bagot, and a 12 storey A-grade commercial tower; which the developer says is the first of its kind in the area.

Aptly named ‘The Village’, the proposed projects  hotel and office building are gaining great recognition for forecasted employment levels, with the ability to draw in more than 2,000 combined workers daily. There is also the added benefit of around 200 jobs expected during the construction phase.

QIC’s Investment general manager, Matthew James, said “The evolution of Castle Towers into a vibrant, multifaceted urban hub is an example of how we’re bringing QIC’s town centre vision to life”.

Recently the QIC lodged a separate DA for a $750 million, 40 storey subtropical tower, right in the heart of the Brisbane CBD. The tower is planned to be located right opposite the Albert Street Cross River Rail (CRR) station.

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