BSP Life acquires iconic Regal building
BSP Life acquires iconic Regal building
Regal building. [Image: PBase.com]
Managing Director, Michael Nacola says this is an important acquisition for them.
BSP Life owns the buildings next to the Regal building that houses McDonald’s on one side and the Fiji Airways travel centre on the other.
He says they are confident that its location in the heart of the much sought-after Victoria Parade area will provide sustainable returns.
The Regal building is a landmark property in Suva’s CBD, having housed the original Regal cinema, one of the most popular cinemas in Suva from the 1960s to 1990s.
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Increased development opportunities for local business and investors
Rockhampton Regional Council through Advance Rockhampton has upped the ante when it comes to creating investment opportunities for new investors and for local businesses looking to expand. The new development incentive complements the other development incentives currently offered in targeted industries.
Last month, Council expanded the current Development Incentives Policy to include multiple residential unit developments in specific areas near the CBD (diagram attached). The policy also extends the current incentives policy for investment in tourism, health, resources, education, aged care and retirement investment sectors.
Rockhampton Region Acting Mayor Neil Fisher said these development incentives have played an important part in stimulating the Rockhampton Region’s economy over the past seven years.
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Rockhampton acting mayor Neil Fisher and Advance Rockhampton executive manager Greg Bowden spoke on Thursday about the extension of a development zone meant to stimulate investment in the city.
The new policy came into effect on January 1 and covers the residential area bounded by Victoria Parade and North, Alma, and Fitzroy streets.
Under it, the council will refund up to 75 per cent of infrastructure charges to any private development that meets its criteria - one of which is increasing job opportunities.
The incentives are available for investment in residential dwellings, health and community services, aged care and retirement, education and training, the resource industry, tourism, and farm stay accommodation.
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St Vincent s Hospital plans to demolish its building overlooking Carlton Gardens and replace it with a new 11-storey tower, raising concerns the glass alien would impact the World Heritage value of the Royal Exhibition Building.
The redevelopment would see the 11-storey Aikenhead building on the corner of Victoria Parade and Nicholson Street razed, along with parts of the Daly Wing and Brenan Hall where the facade would be retained.
The proposed development on the corner of Victoria Parade and Nicholson Street.
Credit:Denton Corker Marshall
The new 11-storey building, set to be called the Aikenhead Centre for Medical Discovery, would house a research and training hub, a ground-floor cafe and boast additional rooftop and basement floors.