This article is from the Australian Property Journal archive
THE Tatts Group is packing up and moving out of its corporate headquarters on St Kilda Rd Melbourne and relocating to Brisbane, following a series of disappointments in Victoria.
Tatts Group will move out of 615 St Kilda Rd, owned by BlackRock Property Trust (Australia), where it has been since 1997. The Tattersalls Building comprises 8,608.8 sqm and is one of the oldest buildings on St Kilda Road with a 0 star NABERS energy rating.
The move to Brisbane is also a significant blow to state, because Tatts Group has called Victoria home since 1954.
In announcing the move Tatts Group Chairman Harry Boon did not disclose the location in Brisbane but said the company will relocate by the middle 2013.
Boon said almost 1,000 people will lose their jobs in Melbourne, although 80 to 100 senior executives will be given the opportunity to move to Brisbane.
He added Tatts Group will employ more than 1,250 Queenslanders in Brisbane.
Queensland Premier Campbell Newman said his government secured Tatts Group by granting the company a 25 years extension on its sports betting licence.
Boon listed several reasons for abandoning Victoria, including the group not securing the wagering license, the gaming machine monitoring license, and the Scratchies lottery licence.
Whereas in other states, Tatts Group has been able to secure a 40-year license in New South Wales and the extension from the Newman government will see its licensed in QLD extended to 85 years.
Property Review
