BOQ, Virgin Money Australia, move in at Sydney

Bank of Queensland has taken naming rights at the office (orange) which stares down Bridge Street.

Bank of Queensland will relocate Sydney headquarters to 255 George Street, where it has also committed to naming rights.

The c5800 square metre lease is for an initial 10 years.

It marks the first time the company and subsidiary Virgin Money Australia will operate under a roof.

At the south west corner of Grosvenor St – also a T-intersection staring down Bridge – the 28-level tower is owned by AMP Capital Wholesale Office Fund (AWOF).

Its office area is Prime grade – a combination between Premium (the best available) and A.

National Australia Bank previously had naming rights; that bank is now headquartered at Wynyard Place.

BOQ will move in later this year (story continues below).

Building being refurbished

In January, Corrs Chambers Westgarth committed to 10,000 sqm at Quay West, an office owned equally by AWOF and AMP Capital Diversified Fund.

AMP Capital head of Real Estate, Kylie O’Connor, said 255 George St is being refurbished with a new lobby, work zones, wellness studio and end-of-trip facilities.

“This deal indicates confidence in prime office space in the Sydney CBD and the importance of workplace accommodation for collaboration,” the executive added.

“Together, these leases provide a strong base for deals moving forward and are testament to the team’s commitment to delivering sustainable outcomes for investors and providing customer centric environments for businesses to thrive”.

BOQ Group chief financial officer and chief operating officer, Ewen Stafford, said “in selecting the right space to bring our multi-brand teams together in the one location, we wanted a building that provided a market-leading level of amenities to our people”.

Bank of Queensland has taken on naming rights at 255 George Street.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of