QIC commits to premium Brisbane office

The Queen Street office (centre) is due for completion in 2025.

Queensland Investment Corporation is the latest business to lease a piece of 360 Queen Street, a premium grade office, construction of which started earlier this year.

Charter Hall and Investa have now filled two thirds of 360 Queen Street.

The investor, fund manager and developer – since last April led by Kylie Rampa – will take close to 10,000 square metres at the 33 level tower, which will overlook the Brisbane River.

With the deal, two thirds of the 45,000 sqm Blight Rayner Architects designed building is committed.

The c$800m complex will also include a 1546 sqm supermarket, gym, childcare centre, pedestrian arcade and 59 basement car and bike parks.

Charter Hall and Investa are the landlords.

360 Queen Street

QIC is headquartered at nearby 66 Eagle St – a 30 storey, 31,896 sqm skyscraper which Deka Immobilien acquired from the Abu Dhabi Investment Authority and Lendlease for $380m in 2020.

It has leased 360 Queen St for an initial 10 years.

“Providing our Brisbane team with a space that fosters productivity, collaboration and amenity is central to supporting our culture of excellence, respect and diversity at QIC,” Ms Rampa said (story continues below).

QIC is headquartered at 66 Eagle Street.

Due for completion in 2025, Charter Hall will hold its stake in the asset in the Prime Office Fund (CPOF), while Investa’s Commercial Prime Office Fund will own the balance.

The QIC deal comes a week since we reported law firm Herbert Smith Freehills committed to 4700 sqm, joining rival HopgoodGanim Lawyers, which previously took 6300 sqm, and BDO, which rented 9000 sqm.

“We are delighted to have secured QIC at 360 Queen St, with the high quality pre-committed tenant covenant further underpinning the premium offering underway,” Charter Hall Office chief executive officer, Carmel Hourigan, said.

“Having pre-leased two thirds of the office space well ahead of scheduled completion…our conviction for the need to modernise office portfolios and offer the latest in building technology remains strong, benefitting CPOF investors and our tenant customers,” she added.

“With innovating 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 exceptional customer experience at every level,” according to the executive.

“The 60-metre Queen St frontage and additional retail laneway will further contribute to the revitalization of Queen St and enhance the pedestrian experience through improved connectivity”.

The office is aiming to be carbon neutral, with a 6-star Green Star rating.

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Marc Pallisco

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