This article is from the Australian Property Journal archive
ALLIANZ Insurance is relocating in Brisbane, but it isn’t moving far, securing office space next door in ISPT’s Central Plaza at 345 Queen Street.
The firm has signed a 10-year lease across three floors in a deal jointly brokered by JLL’s Amanda Foggo who acted for Allianz, and ISPT’s Malcolm Kemp, alongside JLL’s James Vardanega.
It will move from 324 Queen Street, owned by Abacus Property Group.
The deal comes after ISPT invested more than $30 million on refurbishments in the last five years, including a multimillion-dollar ground floor, annex redevelopment and dedicated facilities.
Foggo said the timing for the deal was fortuitous, with demand for commercial property in the CBD expected to surge ahead of the 2032 Olympics, set against a backdrop of limited new supply.
ISPT head of office Nicole Ward said Allianz’s Brisbane team was looking for modern office spaces that were purpose-built to support their dynamic and flexible ways of working.
“We are pleased to welcome Allianz Insurance to Central Plaza, one of Brisbane’s marquee office buildings.
“Our ongoing focus on investing and developing the building’s facilities, and its market-leading sustainability credentials, demonstrates our confidence and ongoing commitment at an asset and portfolio level to the Brisbane property market,” she added.
“The strong sustainability credentials of the building, as well as the focus on tech-powered spaces to support in-person and virtual collaboration, align perfectly with Allianz’s values and workplace culture.” Allianz workplace services general manager Gwendy Arnot said.
Vardanega said the deal as a showcase of the market’s ongoing flight to quality, where work environments were cleverly reimagined to both attract new staff and draw people back to the office.
“It also has strong sustainability credentials, offering high-quality accommodation to organisations with a de-carbonisation strategy or Net Zero carbon targets,” he concluded.
