Charter Hall and Investa further evidence the bifurcation of demand toward modern buildings in Brisbane
Charter Hall Group (Charter Hall) and Investa have secured a further 10-year pre-commitment for their $800 million state-of-the-art office development at 360 Queen Street in Brisbane, to international law firm Herbert Smith Freehills (HSF).
HSF has committed to up to 4,700 square metres (sqm) at the top of the premium-grade tower being constructed in the city’s Golden Triangle.
HSF will join global accounting and advisory firm BDO and Australian law firm HopgoodGanim Lawyers at the 45,000sqm building.
A joint venture between the Charter Hall Prime Office Fund (CPOF) and Investa Commercial Property Fund (ICPF) is developing the 33-floor building, which will be delivered at an opportune time in 2025, with no competing premium grade new buildings set for completion in that timeframe.
CPOF Fund Manager, Miriam Patterson said, “We are pleased to have secured another high-quality tenant customer at 360 Queen Street, which will set a new benchmark for office in Brisbane, due to its high sustainability credentials, location and workplace experience. Leasing momentum for early pre-commitments further supports our thesis that tenant demand will continue to bifurcate the market leading to high occupancy levels in modern buildings.”
“New office space is scarce in the heart of Brisbane’s CBD, especially along Queen Street, providing a key drawcard for occupiers considering their future office premises. The office floors offer many positive attributes including efficient typical office floors office floors of 1,500sqm plus, which are oriented to maximise aspect. Upon completion, this asset will further enhance the quality of ICPF’s CBD office portfolio, ensuring it remains attractive to both occupiers and investors.”
Brendan Looby, ICPF Fund Manager, Investa
HSF Managing Partner Brisbane, Matthew FitzGerald, said, “We’re thrilled to have secured a spot in Brisbane’s newest premium-grade building. By moving to 360 Queen Street, we have the opportunity to create a vibrant new workplace designed to enhance the experience of our people as we continue to deliver outstanding results for our clients.”
With innovative technology throughout the building, an integrated wellness centre and business hub, and extensive natural light complemented by vibrant outdoor spaces, the building has been designed to deliver an exceptional customer experience at every level.
The 60-metre Queen Street frontage and additional retail laneway will further contribute to the revitalisation of Queen Street and enhance the pedestrian experience through improved connectivity.
360 Queen Street is targeting:
- Platinum WELL Core and Shell rating
- Climate Active Carbon Neutral building certification
- 100% green power for all base building power
- 6 Star Green Star Building rating
- 5 Star NABERS Energy rating, and 4 Star NABERS energy rating for Water, Waste and IEQ.
360 Queen Street was designed by Blight Rayner Architects. It is currently being constructed by Hutchison Builders, with practical completion expected in 2025.
More information on 360 Queen Street can be found here.