This article is from the Australian Property Journal archive
LEGAL eagle HWL Ebsworth has signed a heads of agreement to relocate its Queensland headquarters to Dexus' 480 Queen St in Brisbane's CBD.
HWL Ebsworth will move from 123 Eagle St to 480 Queen St after securing 5,000 sqm of space, occupying three floors.
Dexus Property Group and Dexus Wholesale Property Fund jointly acquired 480 Queen St from Grocon on a fund-through basis, with Grocon providing a two-year income guarantee on any remaining vacancies at practical completion. Grocon is both the developer and builder for the project. The project is due for completion in early 2016.
HWL Ebsworth will join other corporates including PricewaterhouseCoopers, Allens, BHP Billiton, Herbert Smith Freehills and The Executive Centre. This commitment increases the total space pre-committed at 480 Queen St to 71% from 38% at acquisition in April 2013.
“This latest commitment reinforces the trend of a flight to quality in the Brisbane market, with strong demand for quality product that provides first-class amenities, views and a great location,” Dexus executive general manager, office and industrial, Kevin George said.
“We are delighted to have entered into this heads of agreement to relocate our Brisbane office to 480 Queen St,” HWL Ebsworth managing partner Juan Martinez said.
“One of HWL Ebsworth’s core principles is to deliver unrivalled value for money, and we believe that this move will contribute to this by providing our Brisbane team members with a workplace designed to maximise efficiency, productivity and collaboration.” Martinez concluded.
Property Review
