BoQ to relocate HQ

BANK of Queensland will pre-committed to a new headquarters – part of a $1 billion mixed-use project at Brisbane’s inner north Newstead.

The occupier has committed to 12,500 square metres for 12-years.

It presently leases about half this space, spread within two CBD buildings.

Its next base is costing $500 per sqm, per annum.

It will form part of the Gasworks project set to include apartments and a hotel.

Construction is set to begin in 2012 and end a year later, according to the AFR.

CBRE Global Corporate Services’ Angus Harvey Ross represented Bank of Queensland.

“The deal demonstrates that traditional CBD tenants are no longer confined to the CBD and that workplace requirements are overriding location,” the agent said.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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