Charter Hall Group’s Prime Office Fund (CPOF) and Investa Commercial Prime Office Fund (ICPF) have announced that their joint venture, the $800 million 360 Queen Street in Brisbane’s CBD has secured two major, 12-year pre-commitment tenants.
Accounting and advisory firm BDO and Australian law firm HopgoodGanim Lawyers will take-up more than a third of the commercial tower in the heart of Brisbane’s coveted Golden Triangle.
BDO will occupy 20 percent of building’s net lettable area (NLA) of 45,000 square metres (sqm), while HopgoodGanim will tenant 14 percent of the tower’s NLA.
According to Charter Hall, wellness, sustainability and connection to the natural environment are key to the design of the 33-floor tower. The building would feature:
- High-quality end-of-trip facilities and arrival experiences
- Innovative technology
- Business hub & wellness centre facilities
- Optimised natural light with floor-to-ceiling glass and vibrant outdoor spaces
- Mixed mode wintergardens and tiered tropical landscaped terraces
- 60 metre Queen Street frontage
- Retail laneway with food and beverage outlets.
Charter Hall’s Managing Director and Group CEO, David Harrison, said, “We are pleased to welcome major pre-commitment from high-quality tenant customers, BDO in Australia and HopgoodGanim Lawyers, for 360 Queen Street, which will provide a new benchmark for Queensland’s premium office sector when it opens in 2025.”
“These lease agreements signal a clear resurgence in the office sector. We are seeing flight-to-quality where premium, state-of-the-art office buildings are attracting the highest occupancy rates and providing outstanding returns for CPOF investors,” Mr Harrison said.
360 Queen is the result of collaboration between Charter Hall, Investa and Blight Rayner architects. Onsite works are already underway, with Charter Hall and Investa confirming Hutchinson Builders as the construction partner. Demolition is complete and the overall practical completed is expected in 2025.
CEO of Investa, Peter Menegazzo, said, “Investa is extremely excited to reach this milestone with our joint venture partner, Charter Hall. 360 Queen Street represents the execution of ICPF’s strategy as an owner of some of Australia’s most advanced and sustainable assets. The development of 360 Queen Street will add significant value to the portfolio and balance our weighting to the Brisbane market.”
BDO office managing partner, Steven Sorbello, said, “Our exciting move to 360 Queen Street will provide our people and clients with a state-of-the art environment in a central and convenient location. We will be working closely with our people to enhance our workplace and set ourselves up for the next chapter of growth in Brisbane.”
Bruce Humphrys, Managing Partner of HopgoodGanim Lawyers said, “The undeniable attraction of 360 Queen Street to a firm such as HopgoodGanim Lawyers is the premium amenity it offers our people and clients. 360 Queen affords us a workplace that will support our continued growth plans, while ensuring our people and clients are able to collaborate in an environment that promotes their wellness and changing workplace needs.
We were also very attracted to the project’s strong environmental credentials and wholeheartedly support the push to achieve these targets.”
360 Queen Street is targeting independently benchmarked environmental, social governance credentials, including:
- Platinum WELL Core and Shell rating
- Climate Active Carbon Neutral building
- 100% green power for all base building power
- 6 Star Green Star Building rating
- 5 Star NABERS Energy rating
- 4 Star NABERS Water rating
- 4 Star NABERS Waste rating
- 4 Star NABERS IEQ rating.
Charter Hall and Investa were advised by Chris Butters and Mark Curtain from CBRE in relation to the leases at 360 Queen Street. Andrew Harper from Cornerstone Properties represented BDO Australia and HopgoodGanim Lawyers.
Charter Hall Prime Office Fund (CPOF) is a wholesale pooled fund that provides investors with high-quality office buildings in Australia’s major capital cities.