Quintessential secures electricity giant to ex-CBA HQ

The King William Street office prior to a makeover.

Quintessential has secured another tenant to the ex-Commonwealth Bank of Australia headquarters, which is undergoing a swank refurbishment.

Electricity giant AGL has committed for a decade to 3000 sqm over two floors of 100 King William Street.

It will relocate some 300 staff from Greenhill Road.

The deal comes three months since the Melbourne based fund manager secured engineering firm KBR to 2000 sqm on levels 21 and 22 of a neighbouring office, 30 Pirie St.

CBRE’s Michael Pfitzner and Andrew Bahr with JLL’s Tom Budarick and James Parkyn were the agents.

AGL to 100 King William

Renovation of the c18,460 sqm King William St office is scheduled for completion in July.

AGL’s rental agreement, commencing next March, includes signage and naming rights (story continues below).

It will join DW Tucker Fox in the tower and CBA which has leased a ground floor branch space for 10 years.

“Competition is always hot and for us its how we differentiate ourselves in the market and make ourselves an attractive offering that’s going to win the race to the occupier group,” Quintessential head of assets, Noah Warren, told The Australian which is reporting the deal.

“It’s about the flight to quality and occupiers, be it SMEs or corporates, needing to attract staff back to the office – what’s going to retain and attract the best talent and that’s definitely led by amenity within and around the building,” he added.

Quintessential paid ex-Video Exy chairman Bob Maidment $71.5m for 100 King William St in 2021.

Coincidentally that executive bought out the asset from Quintessential and Stan Waldren in 2008.

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Marc Pallisco

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