$150 million office proposal

International property group, Grosvenor Australia has purchased a two sites on the corner of Hassall and Station streets, for more than $21 million. The company, in a joint venture with Leighton Properties, propose to develop a 14-storey, 22,500-square-metre office building worth more than $150 million on a 3203-square-metre site. A completion date is expected in late 2009, subject to council approval. Grosvenor and Leighton developed the recently completed $60 million office building on the corner of Smith and Macquarie streets.