Brisbane’s first integrated, mixed use precinct, Brisbane Quarter at 300 George Street, has officially launched with the office tower and retail precinct offered to the market for lease for the first time.
Brisbane Quarter encompasses a complete city block with Brisbane River views and will include Australia’s first purpose-built W Hotel, two levels of riverside dinning and luxury retail shopping beneath a 40 storey state-of-the-art Prime Grade office tower, as well as an 82 storey luxury residential apartment building.
The mixed use development which will cost more than one billion Australian dollars to complete is owned by Shayher Group. Colliers International has been appointed to lease the retail component, with CBRE and JLL leasing the office tower.
The construction commenced in September last year, with Brookfield Multiplex engaged to complete the first stage which includes a 7 storey basement carpark, the retail and hotel facilities and the hotel tower. The first tenants are expected to occupy Brisbane Quarter by mid to late 2018.
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Comprising approximately 48,000sqm of net lettable area, the 40 level office tower to be known as 300 George Street will feature large floor plates of 1,400sqm, a double height glass lobby fronting George Street and an unprecedented level of onsite amenity.
Tenants will have direct access to an exciting food and beverage precinct with alfresco dining overlooking the Brisbane River; meeting and conference facilities, premium accommodation; some of Brisbane’s most exciting bars and restaurants; 2 levels of spa facilities at the W Hotel; and a rooftop park land on level 4.
“Occupiers are very focused on on-site amenity that improves productivity and efficiency for their staff. Shayher is lifting the bar to a new level by introducing one of the world’s leading hotel brands to the development. This will provide building occupants with an unpredicted level of tenant amenity,” said Mark Curtain, Senior Director of Office Advisory and Transaction Services at CBRE.
“George Street has an exciting future in Brisbane with both Brisbane Quarter and Queens Wharf development injecting $4 billion worth of investment into this location. Some of Australia’s largest corporate organisations are already in this precinct and we expect this new investment activity to drive further tenant activity,” said Mr Curtain.
Peter Sia, General Manager of Shayher Group, said: “The mixed use nature of the precinct is quite unique, there is currently nothing else on offer of this calibre. Brisbane will be on the world stage, attracting international and interstate visitors and will be a signature destination for the business community and local residents.”
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According to Kym Thrift, Associate Director of Retail Leasing at Colliers International, the luxury retail and dining demand is outpacing supply. “There is limited opportunity of high profile locations in the Brisbane CBD which presents a challenge to new entrants to the market.
“Brisbane Quarter will look to entice new luxury brands into Brisbane that are not already present in Queensland, particularly with its flagship tenancy, a prime two level corner position totalling 378sqm.
“There is a total of 4,209sqm net lettable space across two levels offering riverside dining and luxury retail shopping. The second podium will feature expansive balconies with alfresco dining taking advantage of the Brisbane River views and our subtropical climate. Ground floor retail is positioned on the entrance to the W Hotel providing luxury retailers the opportunity to leverage off this high profile brand.”
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CBRE senior director Mark Curtain said that all three basements were being built at the same time by construction company Brookfield.
“Shayher is working through the final design of the office tower with the intension of appointing a builder to complete the office tower in the second half of 2016.”
“The program is not subject to a tenant commitment” he said.