This article is from the Australian Property Journal archive
MINING and resources giant BHP Billiton has signed a deal to anchor Grocon’s new $650 million office tower at 480 Queen St in Brisbane.
BHP Billiton has leased approximately 14,000 sqm of space in the 55,000 sqm 37-storey building.
The mining giant is the second tenant to come aboard, following law firm Freehills. In July the lawyers signed a heads of agreement to take the top three floors at 480 Queen St.
Freehills decided to move to Grocon’s new development after 18 years based at Central Plaza One. It also helped that Freehills and Grocon had an existing relationship after the law firm leased Grocon’s new Sydney office tower at 161 Castlereagh St.
BHP Billiton will move from Riparian Plaza at 71 Eagle St and its neighbour, KPMG is also be considering relocating to Grocon’s new development, for 8,000 sqm of space.
Grocon received development approval from the Brisbane City Council to develop 480 Queen St in September this year after buying the site in April last year from APH Properties.
The site previously had development approval and was earmarked for the $1 billion mixed-use failed Trilogy tower project.
APH Properties had approval from the BCC to build the city’s tallest tower – a 70-level 250m tall commercial office, 5-star apartment hotel and residences project.
APH bought the site from the Australian Red Cross in July 2006 for $32 million.
Property Review
