Property development company Austcorp‘s subsidiary will resume construction of the $1bn Vision tower, which is scheduled to become the tallest building in Brisbane, Australia.

The Bank of Scotland has offered a loan to the developer to restart work on the development, which had been stopped due to a lack of funding.

The 246m tower has 79 storeys and features a retail plaza, an observation deck, private residents lobby, business centre, meeting rooms and a private theatre room.

Designed by Buchan Group, the tower is scheduled to become the third-tallest building in Australia once complete.